The countercyclical behavior of national development banks in Latin America and the Caribbean

Autores
Brei, Michael; Schclarek Curutchet, Alfredo
Año de publicación
2017
Idioma
inglés
Tipo de recurso
documento de conferencia
Estado
versión publicada
Descripción
Fil: Brei, Michael. University Paris Ouest; France.
Fil: Schclarek Curutchet, Alfredo. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina.
This paper investigates empirically the cyclical lending patterns of national development banks. To this purpose, we compare the lending activity of national development banks, across crisis and normal times, with that of public, foreign and domestic private banks using information on the annual financial statements of 336 major banks from 31 Latin American and Caribbean countries over the period of 1995-2014. Using dynamic panel regressions that allow controlling for loan demand and other factors, we find robust evidence that national development and public retail-oriented banks have counteracted the slowdown in the lending activity of private banks during crises by significantly increasing their provision of loans. Our results are particularly important when considering productive lending to the corporate sector. The findings suggest that governments have played an active countercyclical role in their banking systems directly through both national development and retail-oriented public banks. Certainly, national development banks' size, governance structure and financial condition play a key role in determining that the countercyclical response is effective in mitigating the macroeconomic effects of financial turmoil. In addition, iIt is important that special and innovative credit lines are designed in line with the specific needs of companies in times of crisis. Moreover, credit lines for infrastructure projects that increase the countries' productive and export capabilities is also advisable.
Fil: Brei, Michael. University Paris Ouest; France.
Fil: Schclarek Curutchet, Alfredo. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina.
Economía, Econometría
Materia
Bank lending
National development banks
Countercyclical behavior
Nivel de accesibilidad
acceso abierto
Condiciones de uso
Repositorio
Repositorio Digital Universitario (UNC)
Institución
Universidad Nacional de Córdoba
OAI Identificador
oai:rdu.unc.edu.ar:11086/19103

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oai_identifier_str oai:rdu.unc.edu.ar:11086/19103
network_acronym_str RDUUNC
repository_id_str 2572
network_name_str Repositorio Digital Universitario (UNC)
spelling The countercyclical behavior of national development banks in Latin America and the CaribbeanBrei, MichaelSchclarek Curutchet, AlfredoBank lendingNational development banksCountercyclical behaviorFil: Brei, Michael. University Paris Ouest; France.Fil: Schclarek Curutchet, Alfredo. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina.This paper investigates empirically the cyclical lending patterns of national development banks. To this purpose, we compare the lending activity of national development banks, across crisis and normal times, with that of public, foreign and domestic private banks using information on the annual financial statements of 336 major banks from 31 Latin American and Caribbean countries over the period of 1995-2014. Using dynamic panel regressions that allow controlling for loan demand and other factors, we find robust evidence that national development and public retail-oriented banks have counteracted the slowdown in the lending activity of private banks during crises by significantly increasing their provision of loans. Our results are particularly important when considering productive lending to the corporate sector. The findings suggest that governments have played an active countercyclical role in their banking systems directly through both national development and retail-oriented public banks. Certainly, national development banks' size, governance structure and financial condition play a key role in determining that the countercyclical response is effective in mitigating the macroeconomic effects of financial turmoil. In addition, iIt is important that special and innovative credit lines are designed in line with the specific needs of companies in times of crisis. Moreover, credit lines for infrastructure projects that increase the countries' productive and export capabilities is also advisable.Fil: Brei, Michael. University Paris Ouest; France.Fil: Schclarek Curutchet, Alfredo. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina.Economía, Econometría2017info:eu-repo/semantics/conferenceObjectinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/resource_type/c_5794info:ar-repo/semantics/documentoDeConferenciaapplication/pdfhttp://hdl.handle.net/11086/19103enghttp://policydialogue.org/files/events/Future_of_National_Development_Banks_-_Countercyclical_Roles.pdfinfo:eu-repo/semantics/openAccessreponame:Repositorio Digital Universitario (UNC)instname:Universidad Nacional de Córdobainstacron:UNC2025-09-04T12:34:27Zoai:rdu.unc.edu.ar:11086/19103Institucionalhttps://rdu.unc.edu.ar/Universidad públicaNo correspondehttp://rdu.unc.edu.ar/oai/snrdoca.unc@gmail.comArgentinaNo correspondeNo correspondeNo correspondeopendoar:25722025-09-04 12:34:27.816Repositorio Digital Universitario (UNC) - Universidad Nacional de Córdobafalse
dc.title.none.fl_str_mv The countercyclical behavior of national development banks in Latin America and the Caribbean
title The countercyclical behavior of national development banks in Latin America and the Caribbean
spellingShingle The countercyclical behavior of national development banks in Latin America and the Caribbean
Brei, Michael
Bank lending
National development banks
Countercyclical behavior
title_short The countercyclical behavior of national development banks in Latin America and the Caribbean
title_full The countercyclical behavior of national development banks in Latin America and the Caribbean
title_fullStr The countercyclical behavior of national development banks in Latin America and the Caribbean
title_full_unstemmed The countercyclical behavior of national development banks in Latin America and the Caribbean
title_sort The countercyclical behavior of national development banks in Latin America and the Caribbean
dc.creator.none.fl_str_mv Brei, Michael
Schclarek Curutchet, Alfredo
author Brei, Michael
author_facet Brei, Michael
Schclarek Curutchet, Alfredo
author_role author
author2 Schclarek Curutchet, Alfredo
author2_role author
dc.subject.none.fl_str_mv Bank lending
National development banks
Countercyclical behavior
topic Bank lending
National development banks
Countercyclical behavior
dc.description.none.fl_txt_mv Fil: Brei, Michael. University Paris Ouest; France.
Fil: Schclarek Curutchet, Alfredo. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina.
This paper investigates empirically the cyclical lending patterns of national development banks. To this purpose, we compare the lending activity of national development banks, across crisis and normal times, with that of public, foreign and domestic private banks using information on the annual financial statements of 336 major banks from 31 Latin American and Caribbean countries over the period of 1995-2014. Using dynamic panel regressions that allow controlling for loan demand and other factors, we find robust evidence that national development and public retail-oriented banks have counteracted the slowdown in the lending activity of private banks during crises by significantly increasing their provision of loans. Our results are particularly important when considering productive lending to the corporate sector. The findings suggest that governments have played an active countercyclical role in their banking systems directly through both national development and retail-oriented public banks. Certainly, national development banks' size, governance structure and financial condition play a key role in determining that the countercyclical response is effective in mitigating the macroeconomic effects of financial turmoil. In addition, iIt is important that special and innovative credit lines are designed in line with the specific needs of companies in times of crisis. Moreover, credit lines for infrastructure projects that increase the countries' productive and export capabilities is also advisable.
Fil: Brei, Michael. University Paris Ouest; France.
Fil: Schclarek Curutchet, Alfredo. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina.
Economía, Econometría
description Fil: Brei, Michael. University Paris Ouest; France.
publishDate 2017
dc.date.none.fl_str_mv 2017
dc.type.none.fl_str_mv info:eu-repo/semantics/conferenceObject
info:eu-repo/semantics/publishedVersion
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dc.identifier.none.fl_str_mv http://hdl.handle.net/11086/19103
url http://hdl.handle.net/11086/19103
dc.language.none.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv http://policydialogue.org/files/events/Future_of_National_Development_Banks_-_Countercyclical_Roles.pdf
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
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dc.source.none.fl_str_mv reponame:Repositorio Digital Universitario (UNC)
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