Journal of
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Archive » April 2020 » Development Banks in Europe

Development Banks in Europe

Marco Frigerio, Daniela Vandone
April 2020 - n. 4
Keywords: Banca di sviluppo, proprietà pubblica, ciclo elettorale, Europa, performance
Jel codes: G21, O16, O52, L32

The goals of the paper are: to map all development banks in Europe; to analyse their performance. Our main finding is that the profitability of development banks over the period 2000-2015 is only slightly lower than that of their benchmark. However, the difference is not statistically significant when focusing on Western Europe, or in the period after the 2008 crises. Besides, development banks appear to be more resilient when the economy slows down, while in Eastern Europe they also play a countercyclical role. During election years, differences exist between development banks in Western and Eastern Europe, with the former virtuous and the latter still accommodating. A battery of robustness tests confirms our results.

 

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