Show simple item record

dc.contributor.authorLa Porta, Rafael
dc.contributor.authorLopez-De-Silanes, Florencio
dc.contributor.authorShleifer, Andrei
dc.date.accessioned2017-03-09T16:21:30Z
dc.date.issued2002
dc.identifier.citationLa Porta, Rafael, Florencio Lopez-De-Silanes, and Andrei Shleifer. 2002. Government Ownership of Banks. The Journal of Finance 57, no. 1: 265–301. Portico. doi:10.1111/1540-6261.00422.en_US
dc.identifier.issn0022-1082en_US
dc.identifier.urihttp://nrs.harvard.edu/urn-3:HUL.InstRepos:30747188
dc.description.abstractIn 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.en_US
dc.description.sponsorshipEconomicsen_US
dc.language.isoen_USen_US
dc.publisherWiley-Blackwellen_US
dc.relation.isversionofdoi:10.1111/1540-6261.00422en_US
dash.licenseLAA
dc.titleGovernment Ownership of Banksen_US
dc.typeJournal Articleen_US
dc.description.versionAccepted Manuscripten_US
dc.relation.journalThe Journal of Financeen_US
dash.depositing.authorShleifer, Andrei
dc.date.available2017-03-09T16:21:30Z
dc.identifier.doi10.1111/1540-6261.00422*
dash.contributor.affiliatedShleifer, Andrei


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record