This paper presents new data from 150 countries showing that former cabinet members, central bank governors, and financial regulators are many orders of magnitude more likely than other citizens to become board members of banks. Countries where the politician-banker phenomenon is more prevalent have higher corruption and more powerful yet less accountable governments, but not better functioning financial systems. Regulation becomes more pro-banker...
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INFORMATION
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2009/04/01
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Document de travail de recherche sur les politiques
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WPS4902
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1
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1
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2010/07/01
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Disclosed
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Banking on politics
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financial development across country