haku: @indexterm financial markets / yhteensä: 470
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Tekijä:Körner, T.
Schnabel, I.
Otsikko:Public ownership of banks and economic growth
Lehti:Economics of transition
2011 : JUL, VOL. 19:3, p. 407-441
Asiasana:banks
economic growth
financial markets
development
political systems
institutions
models
profitability
Vapaa asiasana:initial conditions
public ownership
heterogeneity
GDP
Kieli:eng
Tiivistelmä:Based on the viewpoint that in an influential article, La Porta et al. (2002) argue that public ownership of banks is associated with lower gross domestic product (GDP) growth. The author expounds that this relationship does not hold for all countries, but depends on a country's initial conditions, in particular its financial development and political institutions. Public ownership is harmful only if a country has low financial development and low institutional quality. The negative impact of public ownership on growth fades quickly as the financial and political system develops. In highly developed countries, it is found no or even positive effects. Policy conclusions for individual countries are likely to be misleading if such heterogeneity is ignored.
SCIMA tietueen numero: 274025
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