Banking on politics: When former high-ranking politicians become bank directors

World Bank Economic Review

Volumn 24, Issue 2, 2010, Pages 234-279

  Braun, Matías ^a   Raddatz, Claudio ^b  

^a Universidad Ibañez   (Chile)

^b WORLD BANK   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

BANKING; ECONOMIC DEVELOPMENT; POLITICAL ECONOMY; POLITICS; REGULATORY FRAMEWORK;

EID: 77956311880     PISSN: 02586770     EISSN: 1564698X     Source Type: Journal    
DOI: 10.1093/wber/lhq007     Document Type: Article

References (40)

1. Acemoglu, Daron, and Simon Johnson. 2005. "Unbundling Institutions." Journal of Political Economy 113 (5): 949-95.
2. Agrawal, Anup, and Charles Knoeber. 2001. "Do some Outside Directors Play a political Role?" Journal of Law and Economics 44: 179-98.
3. Ansolabehere, Stephen, John de Figueiredo, and James Snyder, 2003. "Why Is There So Little Money in US Politics?" Journal of Economic Perspectives 17: 105-30.
4. Barth, James, Gerard Caprio, and Ross Levine. 2003. "Bank Supervision and Regulation: What Works Best?" Journal of Financial Intermediation 13: 205-48.
5. Barth, James, Gerard Caprio, and Ross Levine. 2006. Rethinking Bank Regulation: Till Angels Govern. Cambridge, U.K.: Cambridge University Press.
6. Beck, Thorsten, Asli Demirguc-Kunt, and Ross Levine. 2000. "A New Database on Financial Development and Structure." World Bank Economic Review 14 (3): 597-605. Updated and accessed through worldbank.org.
7. Braun, Matias, and Claudio Raddatz. 2007. Trade Liberalization, Capital Account Liberalization, And The Real Effects Of Financial Development. Journal of International Money and Finance 26 (5): 730-61.
8. Braun, Matias, and Claudio Raddatz. 2008. "The Politics of Financial Development: Evidence from Trade Liberalization." Journal of Finance 63 (3): 1469-508.
9. Bureau van Dijk. 2006. Bankscope. www.bvdinfo.com/Products/Company-Information/International/BANKSCOPE.aspx.
10. Burnside, Craig, and David Dollar. 2000. "Aid, Policies, and Growth." American Economic Review 90 (4): 847-68.
11. How Countries Supervise Their Banks, Insurers and Securities Markets. 2000. London: Central Banking Publications, 1999.
12. How Countries Supervise Their Banks, Insurers and Securities Markets 2002. London: Central Banking Publications, 2001.
13. How Countries Supervise Their Banks, Insurers and Securities Markets 2003. London: Central Banking Publications, 2002.
14. Cull, Robert, and Colin Xu. 2005. "Institutions, Ownership, and Finance: The Determinants of Profit Reinvestment among Chinese Firms." Journal of Financial Economics 77: 117-46.
15. Dal Bó, Ernesto. 2006. "Regulatory Capture: A Review." Oxford Review of Economic Policy 22 (2): 203-25.
16. Dreher, Axel, Michael Lamla, Sarah Lein, and Frank Somogoyi. 2009. "The Impact of Political Leaders' Profession and Education on Reforms." Journal of Comparative Economics 37: 169-93.
17. Economist Intelligence Unit. Various years. Country Reports, 1996-2005. London: Economist Intelligence Unit. http://countryanalysis.eiu.com/country_reports.html.
18. Faccio, Mara. 2006. "Politically Connected Firms." American Economic Review 96 (1): 369-86.
19. Faccio, Mara, Ronald Masulis, and John J. McConnell. 2005. "Political Connections and Corporate Bailouts." Journal of Finance 61 (6): 2597-635.
20. Fisman, Raymond. 2001. "Estimating the Value of Political Connections." American Economic Review 91 (4): 1095-102.
21. Goldman, Eitan, Jörg Rocholl, and Jongil So. 2009. "Do Politically Connected Boards Affect Firm Value?" Review of Financial Studies 22 (6): 2331-60.
22. Guiso, Luigi, Paola Sapienza, and Luigi Zingales. 2004. "The Role of Social capital in Financial Development." American Economic Review 94 (3): 526-56.
23. Haber, Stephen H. 1991. "Industrial Concentration and the Capital Markets: A Comparative Study of Brazil, Mexico, and the United States,1830-1930." Journal of Economic History 51: 559-80.
24. Heckman, James. 1979. "Sample Selection Bias As a Specification Error." Econometrica 47: 153-61.
25. Heston, A., R. Summers, and B. Aten. 2006. Penn World Table Version 6.2. University of Pennsylvania, Center for International Comparisons of Production, Income, and Prices, Philadelphia, Pa. Available at http://pwt.econ.upenn.edu.
26. IMF (International Monetary Fund). 2009. Special Data Dissemination Standard. http://dsbb.imf.org/Pages/SDDS/Home.aspx.
27. Kaufmann, Daniel, Aart Kraay, and Massimo Mastruzzi. 2004. "Governance Matters III: Governance Indicators for 1996, 1998, 2000, and 2002." World Bank Economic Review 18 (2): 253-87.
28. Khwaja, Asim Ijaz, and Atif Mian. 2005. "Do Lenders Favor Politically Connected Firms: Rent Provision in an Emerging Financial Market." Quarterly Journal of Economics 120 (4): 1371-411.
29. La Porta, Rafael, Florencio López-de-Silanes, Andrei Shleifer, and Robert Vishny. 1997. "Legal determinants of external finance." Journal of Finance 52 (3): 1131-50.
30. La Porta, Rafael, Florencio López-de-Silanes, Andrei Shleifer, and Robert Vishny. 1998. "Law and finance." Journal of Political Economy 106 (6): 1113-55.
31. Levine, Ross. 2006. "Finance and Growth: Theory and Evidence." In Handbook of Economic Growth, Vol. 1A., ed. Philippe Aghion, and Steven Durlauf. Amsterdam: North Holland.
32. Maurer, Noel. 2002. The Power and the Money: The Mexican Financial System, 1876-1932. Palo Alto, CA: Stanford University Press.
33. Maurer, Noel, and Andrei Gomberg. 2005. "When the State Is Untrustworthy: Public Finance and Private Banking in Porfirian, Mexico." Journal of Economic History 64 (4): 1087-107.
34. Milanovic, Branko, Karla Hoff, and Shale Horowitz. Forthcoming. "Turnover in Power As a Restraint on Investing in Influence: Evidence from the Post-Communist Transition." Economics and Politics.
35. Pagano, Marco, and Paolo Volpin. 2001. "The Political Economy of Finance." Oxford Review of Economic Policy 17 (4): 502-519.
36. Pagano, Marco, and Paolo Volpin. 2005. "The Political Economy of Corporate Governance." American Economic Review 95 (4): 1005-30.
37. Rajan, Raghuram, and Luigi Zingales. 2003. "The Great Reversals: The Politics of Financial Development in the Twentieth Century." Journal of Financial Economics 69 (1): 5-50.
38. Razo, Armando. Forthcoming. Social Foundations of Limited Dictatorship: Networks and Private Protection during Mexico's Early Industrialization. Palo Alto, CA: Stanford University Press.
39. Schnell, Rainer, Tobias Bachteler, and Stefan Bender. 2004. "A Toolbox for Record Linkage." Austrian Journal of Statistics 33 (1-2):125-33.
40. Stulz, Rene, and Rohan Williamson. 2003. "Culture, Openness, and Finance." Journal of Financial Economics 70: 313-49.