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Les banques publiques inférieures aux banques privées ? Vraiment ?

Publié par Kiergaard sur 15 Octobre 2013, 15:54pm

Catégories : #Papiers économiques

Le bâtiment de la Banque de Finlande est assez joli

Le bâtiment de la Banque de Finlande est assez joli

Dans un document de réflexion de la banque de Finlande intitulé : "The Government’s Role in Government-owned Banks", trois chercheurs réexaminent la supposée infériorité des banques publiques sur les banques privées en établissant une nouvelle typologie de ces banques publiques et en recherchant les causes d'une supposée infériorité...

Chung-Hua Shen – Iftekhar Hasan – Chih-Yung Lin The government’s role in government-owned banks. 2013. 51 p.

  • Abstract :
    "In this study, we reinvestigate the question of whether government banks are inferior to private banks. We use cross country data from 1993 to 2007 to trace the different types of government banks. These types comprise banks that acquire distressed banks, normal banks, or no banks at all. Contrary to common belief, the evidence shows that unless government banks are required to purchase a distressed bank because of political factors (the government’s role), their performances are at par with that of private banks. This fact particularly holds true in countries with poor records on political rights and governance".


En clair, à moins que des banques publiques, pour des raisons politiques touchant à une volonté (parfois non nécessaire) de sauver des banques en détresse, acquièrent des banques privées en difficulté, les performances sont identiques entre des banques publiques ou privées que ce soit au niveau de la rentabilité des actifs, de la rentabilité des capitaux propres ou de la marge d'intérêt nette.

- "The government’s role in this study describes the government’s mandate to government banks to assist or even to purchase either private or public distressed banks"
- "We argue that the government effect does not exist in normal-acquirer and non-acquirer government banks because the political factor is not involved. Therefore, the government effect is minimal."
- "By using bank data from 100 countries for the periods between 1993 and 2007, we empirically confirm our hypothesis for the government’s role in which the political factor indeed creates the government effect, and that the effect is minimized if such a factor is removed"
- "Moreover, contrary to common belief, our results indicate that government banks that purchase normal banks and government banks that do not purchase any bank perform as well as private banks. That is, the government effect is significantly minimized when the political factor is removed."
- "Further, we test whether the government effect only exists in countries with worse institutional factors, namely political rights and country governance. We find that the underperformances of distressed-acquirer government banks are aggravated in countries with weak institutional factors.
In sum, our empirical results suggest that the stereotypical image of underperformance does not apply to all government banks. To improve the performance of government banks, the government should not provide excessive guidance"

Je m'arrête la, le papier est clair..., ne pas oublier que c'est un papier de discussion tout de même... On se réfèrera aux tables de fin d'article pour estimer la structure du système bancaire des 100 pays visés.

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