Development Banks (Lazzarini et al.)

What do development banks do? Evidence from Brazil, 2002-2009 by Sergio G. Lazzarini, Aldo Musacchio, Mello and Marcon published by Harvard Business School (12/2011). “While some authors view development banks as an important tool to alleviate capital constraints in scarce credit markets and unlock productive investments, others see those banks as conduits of cheap loans to politically-connected firms that could obtain capital elsewhere.”

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