Bertay, Ata Can; Demirgüç-Kunt, Asli; Huizinga, Harry - In: Journal of Banking & Finance 50 (2015) C, pp. 326-339
This paper finds that lending by state banks is less procyclical than lending by private banks, especially in countries with good governance. Lending by state banks in high income countries is even countercyclical. On the liability side, state banks expand their total liabilities and, in...