Bank Ownership and the Effects of Financial Liberalization: Evidence From India
Do financial sector reforms necessarily result in expansion of credit to the private sector? How does bank ownership affect the availability of credit to the private sector? Empirical evidence is somewhat mixed on these issues. We use the Indian experience with liberalization of the financial sector...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2011
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| Schriftenreihe: | IMF Working Papers
Working Paper No. 11/50 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
| Zusammenfassung: | Do financial sector reforms necessarily result in expansion of credit to the private sector? How does bank ownership affect the availability of credit to the private sector? Empirical evidence is somewhat mixed on these issues. We use the Indian experience with liberalization of the financial sector to inform this debate. Using bank-level data from 1991-2007, we ask whether public and private banks deployed resources freed up by reduced state preemption to increase credit to the private sector. We find that even after liberalization, public banks allocated a larger share of their assets to government securities than did private banks. Crucially, we also find that public banks were more responsive in allocating relatively more resources to finance the fiscal deficit even during periods when state pre-emption (measured in terms of the requirement to hold government securities as a share of assets) formally declined. These findings suggest that in developing countries, where alternative channels of financing may be limited, government ownership of banks, combined with high fiscal deficits, may limit the gains from financial liberalization |
| Beschreibung: | 1 Online-Ressource (45 p) |
| ISBN: | 1455218928 9781455218929 |
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| index_date | 2024-07-03T20:13:26Z |
| indexdate | 2024-07-10T09:35:35Z |
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| spelling | Gupta, Poonam Verfasser aut Bank Ownership and the Effects of Financial Liberalization Evidence From India Gupta, Poonam Washington, D.C International Monetary Fund 2011 1 Online-Ressource (45 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 11/50 Do financial sector reforms necessarily result in expansion of credit to the private sector? How does bank ownership affect the availability of credit to the private sector? Empirical evidence is somewhat mixed on these issues. We use the Indian experience with liberalization of the financial sector to inform this debate. Using bank-level data from 1991-2007, we ask whether public and private banks deployed resources freed up by reduced state preemption to increase credit to the private sector. We find that even after liberalization, public banks allocated a larger share of their assets to government securities than did private banks. Crucially, we also find that public banks were more responsive in allocating relatively more resources to finance the fiscal deficit even during periods when state pre-emption (measured in terms of the requirement to hold government securities as a share of assets) formally declined. These findings suggest that in developing countries, where alternative channels of financing may be limited, government ownership of banks, combined with high fiscal deficits, may limit the gains from financial liberalization Online-Ausg Kochhar, Kalpana Sonstige oth Panth, Sanjaya Sonstige oth http://elibrary.imf.org/view/IMF001/11699-9781455218929/11699-9781455218929/11699-9781455218929.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Gupta, Poonam Bank Ownership and the Effects of Financial Liberalization Evidence From India |
| title | Bank Ownership and the Effects of Financial Liberalization Evidence From India |
| title_auth | Bank Ownership and the Effects of Financial Liberalization Evidence From India |
| title_exact_search | Bank Ownership and the Effects of Financial Liberalization Evidence From India |
| title_exact_search_txtP | Bank Ownership and the Effects of Financial Liberalization Evidence From India |
| title_full | Bank Ownership and the Effects of Financial Liberalization Evidence From India Gupta, Poonam |
| title_fullStr | Bank Ownership and the Effects of Financial Liberalization Evidence From India Gupta, Poonam |
| title_full_unstemmed | Bank Ownership and the Effects of Financial Liberalization Evidence From India Gupta, Poonam |
| title_short | Bank Ownership and the Effects of Financial Liberalization |
| title_sort | bank ownership and the effects of financial liberalization evidence from india |
| title_sub | Evidence From India |
| url | http://elibrary.imf.org/view/IMF001/11699-9781455218929/11699-9781455218929/11699-9781455218929.xml |
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