Government Ownership of Banks
收集全球银行政府所有权数据，发现其在低收入国家普遍且规模大，并与后续金融发展缓慢、人均收入和生产增长率低相关，支持政府所有权的政治理论。
ABSTRACT 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.