THE PHENOMENON OF NATIONAL DEVELOPMENT BANK: THEORETICAL FOUNDATION AND EFFECTIVENESS
Abstract
Virtually every country has at least one institution regarded as a development bank. However, there is a marked gap in studies of development banks on national scale. Following this demand, the current paper aims to shed light on a phenomenon of national development banks. This article identifies theoretical roots of development bank’s existence and investigates its effectiveness. Based on the substantial amount of data observed we suggest an umbrella definition of a development bank. Further, we suggest relevant taxonomy to avoid potential misleading benchmarks. Descriptive statistics on macro-level of analysis demonstratesidiosyncratic nature of national development banks and its extreme heterogeneity. Constructed empirical model identifies general positive association between development bank’s foundation and national economic growth.
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Review
For citations:
Selyavina E. THE PHENOMENON OF NATIONAL DEVELOPMENT BANK: THEORETICAL FOUNDATION AND EFFECTIVENESS. Review of Business and Economics Studies. 2015;3(1):34-56. (In Russ.)
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