We assemble data on government ownership of banks around the world. The data show that such ownership is large and pervasive, and higher in countries with low levels of per capita income, backward financial systems, interventionist and inefficient governments, and poor protection of property rights. Higher government ownership of banks in 1970 is associated with slower subsequent financial development and lower growth of per capita income and productivity. This evidence supports "political" theories of the effects of government ownership of firms. Copyright The American Finance Association 2002.
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La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei, 2001.
"Government Ownership of Banks,"
Working Paper Series
rwp01-016, Harvard University, John F. Kennedy School of Government.
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Rafael La Porta & Florencio Lopezde-Silanes & Andrei Shleifer, 2000.
"Government Ownership of Banks,"
NBER Working Papers
7620, National Bureau of Economic Research, Inc.
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