State-owned banks and development: Dispelling mainstream myths

Main author: Marois, Thomas
Format: Monographs and Working Papers           
Online access: Click here to view record


Summary: Thirty years of neoliberal restructuring have side-lined alternative financing practices, and propagated mainstream myths about state-owned banks. This paper examines these neoliberal claims, arguing instead that public financing remains a crucial part of progressive, sustainable and democratic strategies for investments in long-term development and infrastructure. Drawing on past and present case studies, as well as theoretical literature on finance, the paper points to the potential to revive and improve state-owned banking as a viable option for financing public services.