Privatising Multi-product Banks

Oved Yosha

Economic Journal, 1995, vol. 105, issue 433, 1435-53

Abstract: In October 1983, following a stock market crash, the Israeli government became the owner of most of the banking system in the country. The government is now getting ready to privatize the banks. Using a simple model of imperfect competition between multiproduct banks, the paper evaluates two proposals which have been raised in this context: spinning off entire divisions versus splitting the banks into smaller banks. The degree of substitutability between banking products (e.g., short- and long-term credit) plays a key role in the analysis. Implications for banking reform in other countries are briefly discussed. Copyright 1995 by Royal Economic Society.

Date: 1995
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