Shawn Cole
Financial Development, Bank Ownership, and Growth: Or, Does Quantity Imply Quality?
1980 india nationalized large private banks induced different bank ownership patterns across different towns allowing credible identification effects bank ownership financial development lending rates quality intermediation well employment investment credit markets nationalized banks experienced faster credit growth period financial repression nationalization led lower interest rates lowerquality intermediation may slowed employment gains trade services development lending goals met impact real economy