Naslov
The role and importance of EU public banks in the post-crisis period
(THE ROLE AND IMPORTANCE OF EU PUBLIC BANKS IN THE POST-CRISIS PERIOD)

Autori
Klinac, Ivica ; Ercegovac, Roberto

Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, pp prezentacija, znanstveni

Skup
The MIC -conference: Leading with purpose in times of crises

Mjesto i datum
Rim, Italija, 24.10.2022

Vrsta sudjelovanja
Poster

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
global financial crises, public banks, counter-cyclical policies, dynamic panel models

Sažetak
Public banks are an important instrument in the implementation of official policies of economic growth and development through lending, as well as a wide range of advisory and capacity-building programs. For the SME sector, and even for large private companies whose financial needs are not met by private commercial banks or local financial markets in times of crisis, they represent a very important channel for financing investment and especially liquidity needs. Despite the undeniable importance of public banks in the post-crisis period, very little is known about them to date. As a result, the global financial crisis has opened up new debates and questions about the role of the state itself as an active stakeholder in the financial sector and the economy as a whole. The main goal of this paper is to analyze the operations of public banks of the European Union in the post-crisis period by establishing a homogeneous sample of the 10 most important public banks in the period from 2005 to 2019, divided by the scope of dominant national or international activity. Standard descriptive statistics, as well as a dynamic panel model with a systemic GMM estimator using robust standard errors, will be used in econometric analysis. The research hypothesis assumes that the lending activity of public banks is stable, regardless of macroeconomic disturbances due to their shareholder, business and social responsibility. Moreover, the behaviour of public banks differs from commercial banks due to different funding structures, exemptions from regulatory requirements, and non-market-oriented business models for maintaining efficient credit potential allocation. The main contribution of this research is in the function of continuing the creation of counter-cyclical policies by using the advantages and infrastructure of public banks to stimulate the financing sustainable development goals.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA