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Is Government Ownership of Banks Really Harmful to Growth?

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Author Info

  • Svetlana Andrianova

    ()

  • Panicos Demetriades

    ()

  • Anja Shortland

    ()

Abstract

We show that previous results suggesting that government ownership of banks has a negative effect on economic growth are not robust to adding more 'fundamental' determinants of economic grwoth, such as institutions. We also present regression results from a more recent period (1995-2007) which suggest that, if anything, government ownership of banks has been associated with higher long run growth rates, even after controlling for institutions and other variables suggested by the growth literature. Drawing on the current global financial crisis, we provide a conceptual framework which explains why under certain circumstances government owned banks could have a greater effect on economic growth than privately-owned banks.

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Bibliographic Info

Paper provided by Centre for Economic Development and Institutions(CEDI), Brunel University in its series CEDI Discussion Paper Series with number 09-05.

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Length: 17 pages
Date of creation: May 2009
Date of revision:
Handle: RePEc:edb:cedidp:09-05

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Blog mentions

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  1. Regulation vs nationalization
    by chris dillow in Stumbling and Mumbling on 2009-07-08 13:13:51
  2. What do nationalized banks do?
    by chris dillow in Stumbling and Mumbling on 2010-05-28 12:47:51
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Cited by:
  1. Gutierrez, Eva & Rudolph, Heinz P. & Homa, Theodore & Beneit, Enrique Blanco, 2011. "Development banks : role and mechanisms to increase their efficiency," Policy Research Working Paper Series 5729, The World Bank.
  2. Andrei Vernikov, 2011. "Government Banking in Russia: Magnitude and New Features," IWH Discussion Papers 13, Halle Institute for Economic Research.
  3. Körner, Tobias & Schnabel, Isabel, 2010. "Public Ownership of Banks and Economic Growth - The Role of Heterogeneity," CEPR Discussion Papers 8138, C.E.P.R. Discussion Papers.

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