Autorentext

Diana V. Barrowclough is a Senior Economist at United Nations Trade and Development (UNCTAD). Her research focuses on development finance, regional integration and cooperation, and sustainable economic policies. She has co-edited and authored numerous UN and other publications, including Southern-Led Development Finance: Solutions from the Global South (2021) and South-South Regional Financial Arrangements: Collaboration Towards Resilience (2022)

Thomas Marois is Professor of Political Economy, Canada Research Chair in Public Banking, and Director of the Public Banking Project at McMaster University, Canada. His research investigates the role of public financial institutions in addressing climate change and promoting equitable development. He is the author of the award-winning Public Banks: Decarbonisation, Definancialisation, and Democratisation (2021).

Klappentext

This book examines the resurgence of public banks and their critical role in addressing global climate and development-related challenges. Drawing from the lessons of the 2008-09 financial crisis, the implementation of the UN Sustainable Development Goals, and most crucially, the COVID-19 pandemic, it provides a comprehensive analysis of how public banking institutions can effectively scale up and deliver climate-aligned development finance, at affordable rates and favourable terms.

Through diverse case studies spanning national and multilateral public banks across both wealthy and developing regions, the volume employs multidisciplinary approaches and mixed methodologies to evaluate their capacity, mandate fulfilment, and accountability mechanisms. The research illuminates the complex power dynamics that determine who benefits from public banking initiatives and offers evidence-based insights for strengthening these institutions' ability to serve the public interest in the face of climate challenges.

This volume will appeal to a diverse readership including policymakers and government officials involved in development, financial regulation, and climate policy; academics and researchers in economics, finance, political economy, business, and sustainable development; professionals working in public, private, and development banks; climate activists and NGOs focused on sustainable finance; and graduate students studying public finance, development economics, sustainability, and climate policy. The book provides valuable insights for anyone interested in understanding how public financial institutions can be leveraged to address the pressing challenges of climate change while promoting equitable development outcomes.

Inhalt

Introduction Public Banks and Public Purpose: From Pandemic Responses to Future Climate Prospects 1. The Role of Public Development Banks During the Pandemic: Impact Evaluation of BICE's Innovative Credit Response 2. The Double Function of Turkey's Public Banks and Reinterpretation of Mandates during the Covid-19 Pandemic 3. From State Developmentalism to Financial Populism: The 'Bank of Welfare' and Mexico's Moral Economy 4. Mandate Matters: Evolving Views and Counter-cyclical Surprises from the World's Newest, Southern-led, Multilateral Development Banks *5. National and Multilateral Development Banks during the COVID-19 Pandemic: The Role of the IADB and CDC-BII during the Second Phase 6. Public Development Banks as Essential Infrastructure: Covid, the KfW, and Public Purpose 7. The Italian Development Bank: A Dynamic View of CDP's Public Mission 8.** Public Banking, Overlapping Emergencies, and the Eurozone Periphery: The Portuguese Case