Open AccessPosted Content
Government Ownership of Banks
TLDR
In this article, the authors investigate a neglected aspect of financial systems of many countries around the world; government ownership of banks and find that government ownership is associated with slower subsequent financial development.Abstract:
In this paper, we investigate a neglected aspect of financial systems of many countries around the world; government ownership of banks. We assemble data which establish four findings. First, government ownership of banks is large and pervasive around the world. Second, such ownership is particularly significant in countries with low levels of per capita income, underdeveloped financial systems, interventionist and inefficient governments, and poor protection of property rights. Third, government ownership of banks is associated with slower subsequent financial development. Finally, government ownership of banks is associated with lower subsequent growth of per capita income, and in particular with lower growth of productivity rather than slower factor accumulation. This evidence is inconsistent with the optimistic "development" theories of government ownership of banks common in the 1960s, but supports the more recent "political" theories of the effects of government ownership of firms.read more
Citations
More filters
Journal ArticleDOI
From State to Market: A Survey of Empirical Studies on Privatization
TL;DR: In this paper, the authors survey the literature examining the privatization of state-owned enterprises (SOEs) and the types of privatization, if and by how much privatization has improved the performance of former SOEs in nontransition and transition countries, how investors in privatizations have fared, and the impact of privatization on the development of capital markets and corporate governance.
Journal ArticleDOI
A New Database on the Structure and Development of the Financial Sector
TL;DR: In this paper, the authors introduce a new database of indicators of financial structure and financial development across countries and over time, which is unique in that it combines a wide variety of indicators that measure the size, activity, and efficiency of financial intermediaries and markets.
Cross-country determinants of bank income smoothing by managing loan loss provisions
TL;DR: In this paper, the determinants of income smoothing by management of loan-loss provisions in banks around the world were studied using a panel database of 3221 bank-year observations from 40 countries.
Journal ArticleDOI
Information or Regulation: What Drives the International Activities of Commercial Banks?
TL;DR: In this article, the authors empirically determine the impact of information costs and regulatory barriers on international financial markets from national ones using panel data on bilateral assets and liabilities of commercial banks, and isolate intra-EU financial linkages.
International business responses to institutional voids
TL;DR: A review and synthesis of existing research on institutional voids, tracking the evolution of institutional void scholarship since the inception of the concept, can be found in this article, where the authors highlight four different strategies for responding to them: internalization, substitution, borrowing and signaling.