The Reinvention Of Development Banking In The European Union

National development banks (NDBs) have transformed from outdated relics of national industrial policy to central pillars of the European Union's economic project. This book explores why the EU has supported an increased role for NDBs, and how we might understand the dynamics between NDBs and European incentives and constraints.

Deciphering the European Investment Bank: History, Politics and Economics examines the European Investment Bank (EIB), the European Union’s financial institution and the largest lender and borrower among the International Financial Institutions. Since its establishment in 1958, the EIB has developed without becoming front-page news and has remained highly invisible. By putting together 14 chapters that analyze topical and meaningful moments and aspects of the bank, this edited book offers the first comprehensive analysis of its origins and its evolution in terms of its mandate, governance, structures, policy activity, and performance. Written by acknowledged experts from various disciplines, the chapters weave together history, economics, law, and political science to provide a multidisciplinary examination and capture the complexity of the EIB. The book is a timely initiative for understanding the EIB, whose role has been ever increasing for contributing to the recent global economic challenges, including the economic and financial crisis, climate change, and COVID-19 pandemic. The chapters are written at a level which will be comprehensible to undergraduates in economics, history, and international political economy. It will also be a valuable source of reference for academics, policy makers, bankers, and other practitioners interested in regional development banks and their role in the global economy.

This is an open access title available under the terms of a CC BY-NC-ND 4.0 License. It is free to read, download and share on Elgaronline.com. Through detailed and wide-ranging analysis, the Handbook on European Union Climate Change Policy and Politics provides a critical assessment of current and emerging challenges facing the EU in committing to and delivering increasingly ambitious climate policy objectives. Highlighting the importance of topics such as finance and investment, litigation, ‘hard to abate’ sectors and negative emissions, it offers an up-to-date exploration of the complexities of climate politics and policy making.

This book addresses the urgent need to examine central bank policies in response to the global supply and demand shock brought on by the Covid-19 pandemic, asking whether central banks are doing enough to address inequalities and concerns around climate change and emerging technologies. Adopting an interdisciplinary, critical perspective, the contributors to this volume provide novel theoretical, methodological, and empirical insights on central banks around the world, including in advanced, emerging and developing economies. The chapters in this book explore the evolution of central bank mandates, the policy tools central banks are utilizing, why and how monetary policy takes different shapes (including unconventional monetary policy), the key dynamics influencing central bank policies, how central banks are adapting to the new realities and addressing emerging challenges, and how monetary policy is perceived in the wider economic policy framework. With novel theoretical approaches and diverse empirical evidence from a variety of countries, this book will appeal to readers interested in central banking, monetary policy, the economics of the pandemic and political economy.

Development finance institutions (DFIs), also known as public development banks (PDBs) are public financial institutions initiated and steered by governments with explicit official missions to promote public policy objectives, and public development banks (PDBs) are the main category. DFIs are experiencing a renaissance worldwide, but there is limited academic research examining their roles, operations, and effectiveness. This book attempts to fill this gap by bringing together world-renowned scholars who discuss in detail the economics and the social consequences of both development banks and public banks. Combining together, the chapters in this volume discuss topics from sustainability, development impact of financial instruments, a new development financial architecture, and the interaction with existing international rules like the Basel Accord. This book will be of particular interest to students, scholars, and researchers of development finance, global governance, and international political economy. The chapters in this book were originally published in the Review of Political Economy.

This book explores the potential for public banks to help finance the expansion, democratization, and sustainability of public water services in Europe, with implications for public water financing elsewhere in the world. Financing the UN’s Sustainable Development Goal 6 for water and sanitation will be enormously expensive and will also depend largely on public water operators. Where will this money to fund public water services come from? One option is public banks. These state-owned institutions constitute just under 20% of global banking assets, holding close to $50 trillion in assets. Many public banks have explicit mandates to finance public water management and related public goods, and they have been doing so for decades. And yet, despite a resurgence of interest in public banks, their roles and potential in funding public water services have been largely ignored by researchers and policy makers. This book aims to measure the scale and nature of interactions between public banks and public water operators in the European region; identify challenges and opportunities for deeper engagement between public banks and public water operators; recognize promising practices and how these might be transferred elsewhere in the world; and assess possibilities for more democratic forms of public bank and public water interactions. This volume will be of great use to students and researchers interested in political ecology and economy, development and cooperation, public policy as well as water governance and management. The chapters in this book were originally published as a special issue of Water International.

This cutting-edge Handbook puts economic nationalism in its historical context, from early industrialization to globalization. It explores how economic nationalism has emerged to new prominence in the post-globalization era as states are trying to protect their economies, societies, and cultures from unwanted external influences.