Public Banks, Public Purpose, and Early Actions in the Face of Covid-19

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Main author: Barrowclough, Diana
Other authors: Marois, Thomas
Format: Journal Article           
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id eprints-35689
recordtype eprints
institution SOAS, University of London
collection SOAS Research Online
language English
language_search English
topic HG Finance
HJ Public Finance
description With the outbreak of the global Covid-19 pandemic and associated lockdowns, economic activity came to a grinding halt as demands for financial support in health, business, and government skyrocketed. In spring 2020 we assembled a team of experts to conduct rapid response research on how public banks worldwide responded to the Covid-19 crisis. The team employed case study methods to examine cases in the global north and south. A synthesis of our findings is presented here. We conclude that the most promising public bank responses to the crisis were those substantively guided by public purpose. Where public purpose had a more challenging relationship to public bank responses, the responses were more ambiguous and more difficult to differentiate from private banks. This rapid response study also points to promising lessons for how public banks can help to catalyse momentum to ‘build forward better’ and it raises a series of questions in need of further research.
format Journal Article
author Barrowclough, Diana
author_facet Barrowclough, Diana
Marois, Thomas
authorStr Barrowclough, Diana
author_letter Barrowclough, Diana
author2 Marois, Thomas
author2Str Marois, Thomas
title Public Banks, Public Purpose, and Early Actions in the Face of Covid-19
publisher Taylor and Francis
publishDate 2022
url https://eprints.soas.ac.uk/35689/

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