Preprintgreen2005

Politicians and Banks: Political Influences on Government-Owned Banks in Emerging Markets

106 citations0/0 files storedSSRN Electronic Journal

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Banking stability, regulation, efficiency Fiscal Policies and Political Economy Political Influence and Corporate Strategies

Abstract

Government ownership of banks is very common in countries other than the United States. This paper provides cross-country, bank-level empirical evidence about political influences on these banks. It shows that government-owned banks increase their lending in election years relative to private banks. This effect is robust to controlling for country-specific macroeconomic and institutional factors as well as bank-specific factors. The increase in lending is about 11% of a government-owned bank's total loan portfolio or about 0.5% of the median country's GDP per election per government-owned bank.

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