Süße, Marvin; Grigoriadis, Theocharis - In: IBF paper series (2022) 1, pp. 1-38
Can state-owned banks spur development? Gerschenkron (1962) identified the State Bank of the Rus- sian Empire as the main institutional driver of the country's catch-up industrialization. In this paper, we test this assertion by evaluating the outcome of a policy experiment (1892-1903) under the...