Abstract
Este artículo explora por qué los bancos españoles se internacionalizan y por qué América Latina ha sido la región principal para la expansión internacional de BBVA y Santander. Se muestra que antes de 1986 la banca española tenía una presencia limitada en el exterior y se analizan los principales impulsores de esta expansión inicial (remesas y conexiones comerciales). Sin embargo, a partir de 1986 se produjo una confluencia de factores internos (liberalización bancaria española, creciente competencia y aumento de la IED española) y externos (cambios económicos y regulatorios en América Latina) que incentivaron las incursiones internacionales de BBVA y Santander.
Highlights
Since the 1990s, BBVA and Banco Santander have undergone a huge transformation; they have gone from being two of Spain’s largest banks to two of the world’s biggest
This paper argues that the timing of the changes in the Spanish and Latin American financial sectors, occurring just when other transnational banks were focusing their attention on other regions, created the optimal conditions for the natural and unexpected expansion of BBVA and Banco Santander in the Latin American region
The advantages of cross-country analysis are evident, it is important to consider some specific case studies to obtain evidence about how local conditions in the host countries could act as incentives for attracting foreign banking investments and to contrast whether the general conclusions stemming from cross-country analyses hold true for a specific case study
Summary
Since the 1990s, BBVA and Banco Santander have undergone a huge transformation; they have gone from being two of Spain’s largest banks to two of the world’s biggest. This paper argues that the timing of the changes in the Spanish and Latin American financial sectors, occurring just when other transnational banks were focusing their attention on other regions, created the optimal conditions for the natural and unexpected (in term of size and scope) expansion of BBVA and Banco Santander in the Latin American region. Taking a long-run perspective, this paper discusses different hypotheses about the factors that affected the pattern and timing of Spanish banks’ entry into the Latin American region. The Latin America region was definitely the natural choice for Spanish banks’ internationalisation, we detail the factors that accelerated and give an unexpected boost to this expansion.
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: Revista de Historia Industrial. Economía y Empresa
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
