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Investing for a Greener, Competitive and Socially Inclusive Europe

Investing for a Greener, Competitive and Socially Inclusive Europe
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Year:    2020

Author:    Revoltella, Debora, Wruuck, Patricia

Vierteljahrshefte zur Wirtschaftsforschung, Vol. 89 (2020), Iss. 3 : pp. 51–59

Abstract

Summary: Development banks are there for good times as well as bad times. They promote structural changes in economies, addressing longer-term challenges. They complement financial systems, helping to improve the functioning of banking and financial markets and bolstering economic resilience. They mitigate market failure, but can also help to identify it, contributing to the design of effective policy. Moreover, development banks can help to create and shape markets, such as the green bonds market. In doing so, they catalyse structural economic transformation and spur investment-led growth. For the post-Covid-19 world, Europe needs structural transformation to address the challenges of rapid technological change and stiffer global competition, growing threats to social cohesion and, not least, climate change. In this article, with a focus on the role of the EIB, we discuss three main questions: What is the rationale for development banks? What is the EIB’s unique position within the European development banking landscape? And how is the EIB helping to address the key challenges that Europe is currently facing, boosting recovery from the historic Covid-19 shock to create a more competitive, inclusive and greener economy in Europe?

Journal Article Details

Publisher Name:    Global Science Press

Language:    English

DOI:    https://doi.org/10.3790/vjh.89.3.51

Vierteljahrshefte zur Wirtschaftsforschung, Vol. 89 (2020), Iss. 3 : pp. 51–59

Published online:    2020-07

AMS Subject Headings:    Duncker & Humblot, Duncker & Humblot

Copyright:    COPYRIGHT: © Global Science Press

Pages:    9

Keywords:    G20 O10 O16 O38 L52 P16 Competition Covid-19 development bank digitalisation EIB green bond infrastructure social inclusion structural transformation

Author Details

Revoltella, Debora

Wruuck, Patricia

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