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The Threat of Capital Drain: A Rationale for Public Banks?
Hakenes, Hendrik; Schnabel, Isabel - Max-Planck-Institut zur Erforschung von … - 2006
This paper yields a rationale for why subsidized public banks may be desirable from a regional perspective in a financially integrated economy. We present a model with credit rationing and heterogeneous regions in which public banks prevent a capital drain from poorer to richer regions by...
Persistent link: https://www.econbiz.de/10005612394
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The Threat of Capital Drain: A Rationale for Public Banks?
Hakenes, Hendrik; Schnabel, Isabel - Volkswirtschaftliche Fakultät, … - 2006
This paper yields a rationale for why subsidized public banks may be desirable from a regional perspective in a financially integrated economy. We present a model with credit rationing and heterogeneous regions in which public banks prevent a capital drain from poorer to richer regions by...
Persistent link: https://www.econbiz.de/10005614486
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The Threat of Capital Drain: A Rationale for Regional Public Banks?
Hakenes, Hendrik; Schnabel, Isabel - In: Journal of Institutional and Theoretical Economics (JITE) 166 (2010) 4, pp. 662-689
This paper yields a rationale for why subsidized public banks may increase regional welfare in a financially integrated economy. We present a model with credit rationing and heterogeneous regions in which public banks prevent a capital drain from poorer to richer regions by subsidizing local...
Persistent link: https://www.econbiz.de/10008727984
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A reappraisal of State-Owned Banks
Levy-Yeyat, Eduardo; Micco, Alejandro; Panizza, Ugo - In: ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN … (2007)
We revisit the public banks debate, survey the theoretical arguments and test the robustness (and expand) the existing empirical evidence. While we find some support for the view that public banks do not allocate credit optimally, we also report indicative evidence that they exert a positive...
Persistent link: https://www.econbiz.de/10009021313
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From soft and hard-nosed bankers: bank lending strategies and the survival of financially distressed firms
Höwer, Daniel - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2009
Do private banks act as hard-nosed bankers when firms get financially distressed compared to public banks that have the mandate to support regional economy? For German firms in the period 2000-2005, I find that the probability of leaving the market after financial distress is higher for firms...
Persistent link: https://www.econbiz.de/10008533682
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The privatization of public banks: will it always turn out to be satisfactory?
Apak, Sudi; Atakisi, Ahmet; Ozkan, Levent; … - Volkswirtschaftliche Fakultät, … - 2006
The concept of privatization has been deepened due to the liberalization progress in the world economy since the … resolutions, after the collapsing of socialist regimes in the Eastern Block. Needless to say thai, the concept of privatization in … public bank privatization trends by focusing on to the privatization conception. As a final point, the public bgnks …
Persistent link: https://www.econbiz.de/10011267845
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Does bank ownership affect lending behavior? Evidence from the Euro area
Ferri, Giovanni; Kalmi, Panu; Kerola, Eeva - In: Journal of Banking & Finance 48 (2014) C, pp. 194-209
We analyze the differences in lending policies across banks characterized by different types of ownership, using micro-level data on Euro area banks during the period 1999–2011 to detect possible variations in bank lending supply responses to changes in monetary policy. Our results identify a...
Persistent link: https://www.econbiz.de/10011077995
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Wie privatisieren und wer privatisiert? Zur Erklärung der Wahl der Privatisierungsmethode und -organisation
Siegmund, Uwe - Institut für Weltwirtschaft (IfW) - 1997
With this theoretical survey the thesis is put forward that the method of privatization as well as the structure of the … privatization agency is choosen by the politicians for politico-economic reasons, and not for reasons of saving transaction costs or … for reasons of ideological preferences. The method of privatization (auction, bargaining, giveaway) is the one that is …
Persistent link: https://www.econbiz.de/10009276794
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Privatize or Not? Escaping Budget Temptation and Nirvana Fallacy
Afontsev, S. - In: Journal of the New Economic Association 20 (2013) 4, pp. 150-153
The article argues that most objections against a new wave of privatization in Russia suffer from a 'Nirvana fallacy …', i.e., rely on undue comparison of limited (yet positive) results of actual privatization policies with the alleged … optimal policy choice is to combine privatization with proactive competition policies. …
Persistent link: https://www.econbiz.de/10010752659
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THE FIRST PRIVATIZATION: SELLING SOEs AND PRIVATIZING PUBLIC MONOPOLIES IN FASCIST ITALY (1922-1925)
Bel, Germa - Facultat d'Economia i Empresa, Universitat de Barcelona - 2009
Italys first Fascist government applied a large-scale privatization policy between 1922 and 1925. The government … private firms to build and operate motorways. While ideological considerations may have had a certain influence, privatization … and the Partito Nazionale Fascista. Privatization also contributed to balancing the budget, which was the core objective …
Persistent link: https://www.econbiz.de/10008546736