Banking system control, capital allocation, and economy performance
by Randall Morck
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"We observe less efficient capital allocation in countries whose banking systems are more thoroughly controlled by tycoons or families. The magnitude of this effect is similar to that of state control over banking. Unlike state control, tycoon or family control also correlates with slower economic and productivity growth, greater financial instability, and worse income inequality. These findings are consistent with theories that elite-capture of a country's financial system can embed "crony capitalism""--National Bureau of Economic Research web site.
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Banking system control, capital allocation, and economy performance
2009, National Bureau of Economic Research
Electronic resource
in English
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Title from PDF file as viewed on 12/28/2009.
Includes bibliographical references.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.
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| October 29, 2020 | Edited by MARC Bot | import existing book |
| February 9, 2019 | Created by MARC Bot | import existing book |