State-owned banks and international shock transmission
研究1996-2019年商业银行所有权与信贷增长的关系，发现2008年金融危机前后国内外银行信贷行为发生转变，国有银行在危机中起到稳定作用。
This study re-examines the relationship between commercial bank ownership and lending growth from 1996-2019. The results show that before the 2008 financial crisis, both categories of foreign banks expanded lending, predominantly in developing countries. A shift occurred in the lending behavior of foreign banks post-2008. Bank-specific characteristics became more influential in determining credit growth. During host country banking crises, foreign state-controlled banks demonstrated higher loan growth rates than private-owned banks and reduced credit growth abroad during banking crises in home countries. Lastly, during the 2008 crisis, domestic state-controlled banks stabilized lending activity, while both types of foreign banks reduced lending.