Pages: 47-52
Published: 30.12.2014
Abstract: This article identifies theoretical roots of development bank’s existence. Based on the substantial amount of data observed we suggest an umbrella definition of a development bank. Further, reflecting diagnosed fundamental heterogeneity of national development banks, we suggest relevant taxonomy to avoid potential misleading benchmarks. The paper posits that a development bank is able to be an effective tool of intelligent government intervention aimed at providing economic growth and mitigating market failures.
Key words: development bank, development theory, political theory, development financial institution
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