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State-Owned Banks, Stability, Privatization, and Growth; Practical Policy Decisions in a World without Empirical Proof

  • Michael Andrews
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    This paper provides an overview of the possible linkages between state-owned banks, privatization, and banking sector crises. Data on privatizations in over 65 countries is used together with data from the banking crisis literature to consider the relationship between state-owned banks and financial sector stability. The paper draws on the existing literature to provide guidance to policymakers regarding bank privatization.

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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=17950
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    Paper provided by International Monetary Fund in its series IMF Working Papers with number 05/10.

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    Length: 54
    Date of creation: 01 Jan 2005
    Date of revision:
    Handle: RePEc:imf:imfwpa:05/10
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    1. Udaibir S. Das & Marc Quintyn & Kina Chenard, 2004. "Does Regulatory Governance Matter for Financial System Stability? An Empirical Analysis," IMF Working Papers 04/89, International Monetary Fund.
    2. Reinhart, Carmen & Kaminsky, Graciela, 1999. "The twin crises: The causes of banking and balance of payments problems," MPRA Paper 14081, University Library of Munich, Germany.
    3. Anna Meyendorff & Edward A. Snyder, 1997. "Transactional Structures of Bank Privatization in Central Europe and Russia," William Davidson Institute Working Papers Series 2, William Davidson Institute at the University of Michigan.
    4. Makler, Harry M., 2000. "Bank transformation and privatization in Brazil Financial federalism and some lessons about bank privatization," The Quarterly Review of Economics and Finance, Elsevier, vol. 40(1), pages 45-69.
    5. Steven Fries & Anita Taci, 2002. "Banking reform and development in transition economies," Working Papers 71, European Bank for Reconstruction and Development, Office of the Chief Economist.
    6. Ceyla Pazarbasioglu & Claudia Helene Dziobek, 1997. "Lessons From Systemic Bank Restructuring; A Survey of 24 Countries," IMF Working Papers 97/161, International Monetary Fund.
    7. Rafael La Porta & Florencio Lopezde-Silanes & Andrei Shleifer, 2000. "Government Ownership of Banks," NBER Working Papers 7620, National Bureau of Economic Research, Inc.
    8. International Monetary Fund, 2002. "Banking Crises and Bank Resolution; Experiences in Some Transition Economies," IMF Working Papers 02/56, International Monetary Fund.
    9. Aliber, Robert Z, 1984. "International Banking: A Survey," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 16(4), pages 661-78, November.
    10. NessJr., Walter L., 2000. "Reducing government bank presence in the Brazilian financial system Why and how," The Quarterly Review of Economics and Finance, Elsevier, vol. 40(1), pages 71-84.
    11. Oli Havrylyshyn & Donal McGettigan, 1999. "Privatization in Transition Countries; A Sampling of the Literature," IMF Working Papers 99/6, International Monetary Fund.
    12. Petya Koeva Brooks, 2003. "The Performance of Indian Banks During Financial Liberalization," IMF Working Papers 03/150, International Monetary Fund.
    13. Burkhard Drees & Ceyla Pazarbasioglu, 1995. "The Nordic Banking Crises; Pitfalls in Financial Liberalization?," IMF Working Papers 95/61, International Monetary Fund.
    14. Sapienza, Paola, 2002. "What Do State-Owned Firms Maximize? Evidence from the Italian Banks," CEPR Discussion Papers 3168, C.E.P.R. Discussion Papers.
    15. Joe Peek & Eric S. Rosengren, 1996. "The international transmission of financial shocks: the case of Japan," Working Papers 96-1, Federal Reserve Bank of Boston.
    16. Clifford Zinnes & Yair Eilat & Jeffrey Sachs, 2001. "The Gains from Privatization in Transition Economies: Is "Change of Ownership" Enough?," IMF Staff Papers, Palgrave Macmillan, vol. 48(4), pages 7.
    17. Snyder, Edward A. & Kormendi, Roger C., 1997. "Privatization and Performance of the Czech Republic's Komercni Banka," Journal of Comparative Economics, Elsevier, vol. 25(1), pages 97-128, August.
    18. McComb, Robert P. & Gruben, William C. & Welch, John H., 1994. "Privatization and performance in the Mexican financial services industry," The Quarterly Review of Economics and Finance, Elsevier, vol. 34(Supplemen), pages 217-235.
    19. Barth, James R. & Caprio, Gerard & Levine, Ross, 2000. "Banking systems around the globe : do regulation and ownership affect the performance and stability?," Policy Research Working Paper Series 2325, The World Bank.
    20. Lopez-de-Silanes, Florencio, 1997. "Determinants of Privatization Prices," The Quarterly Journal of Economics, MIT Press, vol. 112(4), pages 965-1025, November.
    21. John R. Garrett & Hans-Joachim Beyer & Claudia Helene Dziobek, 1999. "Economic and Legal Considerations of Optimal Privatization; Case Studies of Mortgage Firms (Depfa Group and Fannie Mae)," IMF Working Papers 99/69, International Monetary Fund.
    22. Dani Rodrik & Arvind Subramanian & Francesco Trebbi, 2004. "Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development," Journal of Economic Growth, Springer, vol. 9(2), pages 131-165, 06.
    23. Claessens, Stijn & Demirguc-Kunt, Asl[iota] & Huizinga, Harry, 2001. "How does foreign entry affect domestic banking markets?," Journal of Banking & Finance, Elsevier, vol. 25(5), pages 891-911, May.
    24. Abarbanell, Jeffery S. & Meyendorff, Anna, 1997. "Bank Privatization in Post-Communist Russia: The Case of Zhilsotsbank," Journal of Comparative Economics, Elsevier, vol. 25(1), pages 62-96, August.
    25. Cull, Robert J., 1997. "Financial sector adjustment lending : a mid-course analysis," Policy Research Working Paper Series 1804, The World Bank.
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