Banking Systems Around the Globe : Do Regulation and Ownership Affect the Performance and Stability?

Barth, James R. ; Caprio, Gerard, Jr. ; Levine, Ross

World Bank, Washington, DC

关键词: BANK ASSETS;    BANK PERFORMANCE;    BANK REGULATION;    BANK STRUCTURE;    BANK SUPERVISION;   

DOI  :  10.1596/1813-9450-2325
RP-ID  :  WPS2325

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The authors report cross-country data oncommercial bank regulation and ownership in more than 60countries. They evaluate the links between differentregulatory/ownership practices in those countries and bothfinancial sector performance and banking system stability.They document substantial variation in response to thesequestions: Should it be public policy to limit the powers ofcommercial banks to engage in securities, insurance, andreal estate activities? Should the mixing of banking andcommerce be restricted by regulating commercial bank'sownership of non-financial firms and non-financialfirms' ownership of commercial banks? Should states owncommercial banks, or should those banks be privatized? Theyfind: 1) There is no reliable statistical relationshipbetween restrictions on commercial banks' ability toengage in securities, insurance, and real estatetransactions and how well-developed the banking sector, howwell-developed securities markets and non-bank financialintermediaries are, or the degree of industrial competition.Based on the evidence, it is difficult to argue confidentlythat restricting commercial banking activities benefits-orharms-the development of financial and securities markets orindustrial competition. 2) There are no positive effectsfrom mixing banking and commerce. 3) Countries that moretightly restrict and regulate the securities activities ofcommercial banks are substantially more likely to suffer amajor banking crisis. Countries whose national regulationsinhibit banks' ability to engage in securitiesunderwriting, brokering, and dealing--and all aspects of themutual fund business--tend to have more fragile financialsystems. 4) The mixing of banking and commerce is associatedwith less financial stability. The evidence does not supportadmonitions to restrict the mixing of banking and commercebecause mixing them will increase financial fragility. 5) Onaverage, greater state ownership of banks tends to beassociated with more poorly developed banks, nonbanks, andstock markets and more poorly functioning financial systems.