Credit stabilization through public banks: the case of Banco Estado

A novel element in the policy mix that responded to the 2008- 2009 financial crisis was the explicit role given to BancoEstado a publicly-owned commercial bank to alleviate the contraction in domestic credit provided by the banking sector. In order to aid its mission BancoEstado was capitalized by 5...

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Autores principales:	Lagos, Luis Felipe, Tapia, Matías
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	BANCOS CRÉDITO CRISIS ECONÓMICA 2008 CRISIS FINANCIERA BANCO ESTADO (CHILE)
Acceso en línea:	https://hdl.handle.net/20.500.12580/3813
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id	oai-20.500.12580-3813
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spelling	oai-20.500.12580-38132021-04-24T11:09:00Z Credit stabilization through public banks: the case of Banco Estado Lagos, Luis Felipe Tapia, Matías BANCOS CRÉDITO CRISIS ECONÓMICA 2008 CRISIS FINANCIERA BANCO ESTADO (CHILE) A novel element in the policy mix that responded to the 2008- 2009 financial crisis was the explicit role given to BancoEstado a publicly-owned commercial bank to alleviate the contraction in domestic credit provided by the banking sector. In order to aid its mission BancoEstado was capitalized by 500 million dollars in 2009 ensuring that it would not be bounded by its loans to capital ratio. While this in a sense is quasi fiscal policy (with the public sector channeling resources to potentially credit-constrained firms) and could thus be seen as similar to policies adopted in the U.S. at the same time credit was not provided directly by the government but through a bank that competes directly and successfully within the banking sector. While publicly owned BancoEstado operates as a (constrained) profit-maximizing institution that tries to attain certain public policy objectives (like providing access to banking in remote areas) while still being competitive and profitable. 2019-11-01T00:06:18Z 2019-11-01T00:06:18Z 2014 Artículo 978-956-7421-45-9 https://hdl.handle.net/20.500.12580/3813 eng Series on Central Banking Analysis and Economic Policies no. 19 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 461-499 application/pdf Banco Central de Chile
institution	Banco Mundial
collection	Banco Mundial
language	eng
topic	BANCOS CRÉDITO CRISIS ECONÓMICA 2008 CRISIS FINANCIERA BANCO ESTADO (CHILE)
spellingShingle	BANCOS CRÉDITO CRISIS ECONÓMICA 2008 CRISIS FINANCIERA BANCO ESTADO (CHILE) Lagos, Luis Felipe Tapia, Matías Credit stabilization through public banks: the case of Banco Estado
description	A novel element in the policy mix that responded to the 2008- 2009 financial crisis was the explicit role given to BancoEstado a publicly-owned commercial bank to alleviate the contraction in domestic credit provided by the banking sector. In order to aid its mission BancoEstado was capitalized by 500 million dollars in 2009 ensuring that it would not be bounded by its loans to capital ratio. While this in a sense is quasi fiscal policy (with the public sector channeling resources to potentially credit-constrained firms) and could thus be seen as similar to policies adopted in the U.S. at the same time credit was not provided directly by the government but through a bank that competes directly and successfully within the banking sector. While publicly owned BancoEstado operates as a (constrained) profit-maximizing institution that tries to attain certain public policy objectives (like providing access to banking in remote areas) while still being competitive and profitable.
format	Artículo
author	Lagos, Luis Felipe Tapia, Matías
author_facet	Lagos, Luis Felipe Tapia, Matías
author_sort	Lagos, Luis Felipe
title	Credit stabilization through public banks: the case of Banco Estado
title_short	Credit stabilization through public banks: the case of Banco Estado
title_full	Credit stabilization through public banks: the case of Banco Estado
title_fullStr	Credit stabilization through public banks: the case of Banco Estado
title_full_unstemmed	Credit stabilization through public banks: the case of Banco Estado
title_sort	credit stabilization through public banks: the case of banco estado
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3813
work_keys_str_mv	AT lagosluisfelipe creditstabilizationthroughpublicbanksthecaseofbancoestado AT tapiamatias creditstabilizationthroughpublicbanksthecaseofbancoestado
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Credit stabilization through public banks: the case of Banco Estado

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