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The Future of National Development Banks

Stephany Griffith-Jones and José Antonio Ocampo


The topic of national development banks was largely neglected in the academic literature for a long period, and was limited to a debate between admirers and detractors of these institutions. Since the 2007/9 financial crisis, interest in and support for these institutions have broadly increased, in developing, emerging, and developed countries alike. The key issues are understanding how such development banks work, what their main aims are, what instruments, incentives, and governance work better in general and in particular contexts, and what are their links with the private financial and cor ... More

Keywords: national development banks, investment financing, innovation, sustainable infrastructure investment, financial inclusion, countercyclical funding

Bibliographic Information

Print publication date: 2018 Print ISBN-13: 9780198827948
Published to Oxford Scholarship Online: November 2018 DOI:10.1093/oso/9780198827948.001.0001


Affiliations are at time of print publication.

Stephany Griffith-Jones, editor
Financial Markets Director, Initiative for Policy Dialogue, Columbia University, US and Emeritus Professorial Fellow, Institute of Development Studies, Sussex University, UK

José Antonio Ocampo, editor
Member of the Board of Directors of Banco de la República, Colombia; Professor (on leave) from Columbia University, US, and Chair of the UN Committee for Development Policy

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1 The Future of National Development Banks

Stephany Griffith-Jones, José Antonio Ocampo, Felipe Rezende, Alfredo Schclarek, and Michael Brei

Part I Case Studies

3 National Development Banks as Active Financiers

Ulf Moslener, Matthias Thiemann, and Peter Volberding

4 The Future of Development Banks

Rogério Studart and Luma Ramos

5 Changing Challenges in the Modernization of Nacional Financiera

Juan Carlos Moreno-Brid, Esteban Pérez Caldentey, and Laura Valdez

6 The Role of CORFO in Chile’s Development

Stephany Griffith-Jones, María Luz Martínez Sola, and Javiera Petersen Muga1

7 Colombia’s System of National Development Banks

José Antonio Ocampo and Paola Arias

8 The Experience of Development Banking in Peru

Óscar Dancourt and Renzo Jiménez Sotelo

Part II Thematic Issues

13 Conclusions

Stephany Griffith-Jones, José Antonio Ocampo, and Paola Arias

End Matter