State Financial Institutions : Mandates, Governance, and Beyond

Rudolph, Heinz P.

关键词: ACCESS TO CREDIT;    ACCESS TO FINANCE;    ACCESS TO FINANCIAL SERVICES;    AFFILIATES;    AGRICULTURAL SECTOR;   

DOI  :  10.1596/1813-9450-5141
RP-ID  :  WPS5141

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

There is no doubt that on average theperformance of state financial institutions around the worldhas been below the lowest expectations. Lack of governance,management skills, regulation, and transparency, andmisguided incentives have contributed to discredit theseinstitutions for supporting the development of localfinancial markets. However, the pro-active role that somestate financial institutions have played in the recentcrisis in allocating credit to sectors cyclically notattractive for commercial banks has brought back thequestion of whether some state ownership in the bankingsystem would be preferable. This paper analyzes theexperience of four state financial institutions that haveperformed relatively well in the past: Canada'sBusiness Development Bank, Chile's BancoEstado, SouthAfrica's Development Bank of Southern Africa, andFinland's Finnvera plc. The author finds that theseinstitutions have different checks and balances to mitigateeventual mismanagement of resources. The author also findsthat little progress has been made in measuring the policyperformance of these institutions.