Are public development banks counter-cyclical? A brief

The Covid crisis and its economic implications have underlined the importance of public action in times of recession. Both developed and developing countries are in urgent need of capital. In this context, public development banks are expected to take over from private banks to support economic activity. Although rarely explicit, supporting the economy in times of recession is one of the roles of public development banks. This note synthesizes current scientific knowledge on the contracyclicality of public development banks.

Léon F. (2020) "Are public development banks counter-cyclical? A brief", FERDI Policy brief, B212, October

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