The 2007-8 global financial crisis has shown the failure of private finance to efficiently allocate capital to finance real capital development. The resilience and stability of Brazil’s financial system has received attention, since it navigated relatively smoothly through the Great Recession...

In the wake of the recent financial crisis, many governments extended public guarantees to banks. We take advantage of a natural experiment, in which long-standing public guarantees were removed for a set of German banks following a lawsuit, to identify the real effects of these guarantees on...

Between 2003 and 2013, according to Zephyr (BvD) data, 22% of M&A deals between banks have involved state-owned banks, either as targets (12%) or as acquirers (10%). The behavior of state-owned banks in the market control is, however, under-researched. The standard Inefficient Management...

"This book is a pivotal reference source for the latest perspectives on the performance and evaluation of National Promotional Banks (NPBs) within European economic contexts and their impact on social welfare. Featuring relevant coverage across innovative topics, such as funding, productivity,...

Introduction -- System structure -- Political control and corporate governance -- Economic reform and corporate governance -- System function -- Political effectiveness and corporate governance -- Political stability and corporate governance -- Political adaptability and corporate governance --...

The developmental mindset and the revival of financial activism -- Developmental states : bringing ideas back in -- Makings of a mindset and emergence of strategy mark I -- Rise of financial activism -- Fracturing consensus and the abandonment of financial activism -- Return of the state --...

Some of the German “Landesbanken” engaged in highly risky business with the acceptance of local politicians and then demanded bailouts during the financial crisis. The HSH Nordbank, the world’s largest provider of ship financing, based in northern Germany, lost almost 2.8 billion euros in...

State-owned banks may help to soften the financing constraints of public sector entities and consequently become a factor that hampers fiscal discipline. Using a panel dataset, we find that a larger presence of state-owned banks in the banking system is associated with more credit to the public...

Das Ziel der vorliegenden Arbeit liegt in der Identifikation von Public Corporate Governance-Steuerungsdimensionen und der entsprechenden Ausgestaltungsvarianten für Kantonalbanken im Spannungsfeld zwischen ökonomischer und politischer Steuerung aus Sicht der Kantone als Allein- oder...

Should the European Union grant state aid through an institution like the European Investment bank? This paper evaluates the efficiency of different measures for granting state aid. We use a theoretical model with firms that differ in their creditworthiness and compare different types of...