The effects of government ownership on bank lending

• 成果类型: Article
• 署名作者: Sapienza, P
• 署名单位: Northwestern University; Centre for Economic Policy Research - UK
• 刊物名称: JOURNAL OF FINANCIAL ECONOMICS
• ISSN/ISSBN: 0304-405X
• DOI: 10.1016/j.jfineco.2002.10.002
• 发表日期: 2004
• 页码: 357-384
• 关键词: Banking; GOVERNMENT; OWNERSHIP

摘要

This paper uses information on individual loan contracts to Study the effects of government ownership on bank lending behavior. State-owned banks charge lower interest rates than do privately owned banks to similar or identical firms, even if firms are able to borrow more from privately owned banks. State-owned banks mostly favor large firms and firms located in depressed areas. The lending behavior of state-owned banks is affected by the electoral results of the party affiliated with the bank: the stronger the political party in the area where the firm is borrowing, the lower the interest rates charged. (C) 2003 Elsevier B.V. All rights reserved.