The Countercyclical Behavior of National Development Banks in Latin America and the Caribbean
- Autores
- Brei, Michael; Schclarek Curutchet, Alfredo
- Año de publicación
- 2018
- Idioma
- inglés
- Tipo de recurso
- documento de conferencia
- Estado
- versión publicada
- Descripción
- 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, it 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 are also advisable.
Facultad de Ciencias Económicas - Materia
-
Ciencias Económicas
bank lending
national development banks
countercyclical behavior - Nivel de accesibilidad
- acceso abierto
- Condiciones de uso
- http://creativecommons.org/licenses/by-nc-sa/4.0/
- Repositorio
- Institución
- Universidad Nacional de La Plata
- OAI Identificador
- oai:sedici.unlp.edu.ar:10915/165496
Ver los metadatos del registro completo
id |
SEDICI_a75d872b91ba966118bf8c0a262884ff |
---|---|
oai_identifier_str |
oai:sedici.unlp.edu.ar:10915/165496 |
network_acronym_str |
SEDICI |
repository_id_str |
1329 |
network_name_str |
SEDICI (UNLP) |
spelling |
The Countercyclical Behavior of National Development Banks in Latin America and the CaribbeanBrei, MichaelSchclarek Curutchet, AlfredoCiencias Económicasbank lendingnational development bankscountercyclical behaviorThis 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, it 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 are also advisable.Facultad de Ciencias Económicas2018-11info:eu-repo/semantics/conferenceObjectinfo:eu-repo/semantics/publishedVersionObjeto de conferenciahttp://purl.org/coar/resource_type/c_5794info:ar-repo/semantics/documentoDeConferenciaapplication/pdfhttp://sedici.unlp.edu.ar/handle/10915/165496enginfo:eu-repo/semantics/altIdentifier/isbn/978-987-28590-6-0info:eu-repo/semantics/altIdentifier/url/https://bd.aaep.org.ar/anales/works/works2018/schclarek.pdfinfo:eu-repo/semantics/altIdentifier/issn/1852-0022info:eu-repo/semantics/openAccesshttp://creativecommons.org/licenses/by-nc-sa/4.0/Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0)reponame:SEDICI (UNLP)instname:Universidad Nacional de La Platainstacron:UNLP2025-09-03T11:15:25Zoai:sedici.unlp.edu.ar:10915/165496Institucionalhttp://sedici.unlp.edu.ar/Universidad públicaNo correspondehttp://sedici.unlp.edu.ar/oai/snrdalira@sedici.unlp.edu.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:13292025-09-03 11:15:25.501SEDICI (UNLP) - Universidad Nacional de La Platafalse |
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 Ciencias Económicas 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 |
Ciencias Económicas bank lending national development banks countercyclical behavior |
topic |
Ciencias Económicas bank lending national development banks countercyclical behavior |
dc.description.none.fl_txt_mv |
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, it 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 are also advisable. Facultad de Ciencias Económicas |
description |
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, it 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 are also advisable. |
publishDate |
2018 |
dc.date.none.fl_str_mv |
2018-11 |
dc.type.none.fl_str_mv |
info:eu-repo/semantics/conferenceObject info:eu-repo/semantics/publishedVersion Objeto de conferencia http://purl.org/coar/resource_type/c_5794 info:ar-repo/semantics/documentoDeConferencia |
format |
conferenceObject |
status_str |
publishedVersion |
dc.identifier.none.fl_str_mv |
http://sedici.unlp.edu.ar/handle/10915/165496 |
url |
http://sedici.unlp.edu.ar/handle/10915/165496 |
dc.language.none.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
info:eu-repo/semantics/altIdentifier/isbn/978-987-28590-6-0 info:eu-repo/semantics/altIdentifier/url/https://bd.aaep.org.ar/anales/works/works2018/schclarek.pdf info:eu-repo/semantics/altIdentifier/issn/1852-0022 |
dc.rights.none.fl_str_mv |
info:eu-repo/semantics/openAccess http://creativecommons.org/licenses/by-nc-sa/4.0/ Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) |
eu_rights_str_mv |
openAccess |
rights_invalid_str_mv |
http://creativecommons.org/licenses/by-nc-sa/4.0/ Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:SEDICI (UNLP) instname:Universidad Nacional de La Plata instacron:UNLP |
reponame_str |
SEDICI (UNLP) |
collection |
SEDICI (UNLP) |
instname_str |
Universidad Nacional de La Plata |
instacron_str |
UNLP |
institution |
UNLP |
repository.name.fl_str_mv |
SEDICI (UNLP) - Universidad Nacional de La Plata |
repository.mail.fl_str_mv |
alira@sedici.unlp.edu.ar |
_version_ |
1842260658312183808 |
score |
13.13397 |