Who Owns the Media?*

  title={Who Owns the Media?*},
  author={Simeon Djankov and Caralee McLiesh and Tatiana Nenova and Andrei Shleifer},
  journal={The Journal of Law and Economics},
  pages={341 - 382}
We examine the patterns of media ownership in 97 countries around the world. We find that almost universally the largest media firms are owned by the government or by private families. Government ownership is more pervasive in broadcasting than in the printed media. We then examine two theories of government ownership of the media: the public interest (Pigouvian) theory, according to which government ownership cures market failures, and the public choice theory, according to which government… Expand
Government Control of the Media
We present a formal model of government control of the media to illuminate variation in media freedom across countries and over time. Media bias is greater and state ownership of the media moreExpand
Manipulating the Media
This paper investigates the methods that government uses to manipulate the media where it is unfree. Using data from original fieldwork, we provide a detailed anatomy of state controlled mediaExpand
Government Control of the Media
We present a formal model of government control of the media to illuminate variation in media freedom across countries and over time. Media bias is greater and state ownership of the media moreExpand
Who Captures the Power of the Pen?
We study how government control affects the roles of the media as an information intermediary and a corporate monitor. Comparing a large sample of news articles written by state-controlled andExpand
The Corporate Governance Role of the Media
In this paper we discuss the role of the media in pressuring corporate managers and directors to behave in ways that are 'socially acceptable'. Sometimes this coincides with shareholders' valueExpand
The Political and Economic Impact of Media Ownership Structures and Concentration on Global Communication
The global media is not limited to disseminating information but also plays the role of fostering ideas, diffusing stories, and exchanging culture. The content produced by global media, however, mayExpand
State versus private ownership : A look at the implications for local media freedom
  • 2009
The availability of information and its accessibility is central to the functioning of contemporary democracies and in modern economies and societies in general. It is vital to the ability ofExpand
Media as a Mechanism of Institutional Change
A large literature establishes the connection between institutions and economic performance. Comparatively little work, however, explores the process of institutional change. How doExpand
The changing face of culture: gauging the impact of a free media
This paper empirically assesses the relationship between culture and a free press. The results reveal that a privatized or ‘free media’ strongly influences informal institutions of a country or whatExpand
The role of authoritative media in Economics
The paper explores the link between authoritative media, which is called the public court in the paper, and economic prosperity. Three types of evidence are used. First, arguments of the superiorityExpand


Handcuffs for the Grabbing Hand? Media Capture and Government Accountability
It is widely recognized that active media can play a role in enhancing political competition by informing voters. Collusion between government and media can, however, undermine this role. We extendExpand
The Political Economy of Government Responsiveness: Theory and Evidence from India
The determinants of government responsiveness to its citizens is a key issue in political economy. Here we develop a model based on the solution of political agency problems. Having a more informedExpand
The Structure of Corporate Ownership: Causes and Consequences
This paper argues that the structure of corporate ownership varies systematically in ways that are consistent with value maximization. Among the variables that are empirically significant inExpand
The media's role in curbing corruption
The role of the media is critical in promoting good governance and controlling corruption. It not only raises public awareness about corruption, its causes, consequences, and possible remedies butExpand
Corporate Ownership Around the World
We present data on ownership structures of large corporations in 27 wealthy economies, making an effort to identify ultimate controlling shareholders of these firms. We find that, except in economiesExpand
Law and Finance
This paper examines legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries. The results show thatExpand
Press Freedom and the Democratic Peace
A persistent question in the study of international conflict centers on the role of democratic political institutions and the initiation of war. Several dyadic examinations of data on regime type andExpand
Radio's Impact on Public Spending
If informed voters receive favorable policies, then the invention of a new mass medium may affect government policies since it affects who is informed and who is not. These ideas are developed in aExpand
Legal Determinants of External Finance
Using a sample of 49 countries, we show that countries with poorer investor protections, measured by both the character of legal rules and the quality of law enforcement, have smaller and narrowerExpand
Freedom of the Press
THE lively debate on the control and ownership of the Press in the House of Commons on October 29, which issued in a resolution urging the appointment of a Royal Commission to inquire into itsExpand