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The Public Policy Role of the European Investment Bank within the EU




Despite the increasing sophistication of private financial markets in Europe, the European Investment Bank (EIB) has been expanding as never before. Is the Bank just one among many large banks prepared to provide project finance in Europe, or does it have a distinct public policy role? We argue that its main distinguishing role to date has been to bring competition and efficiency to the less efficient banking markets. But new initiatives envisage a move to more EIB involvement in loan guarantees and equity investment. We review the potential here and offer some cautionary remarks. Copyright 1995 BPL.

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  • Patrick Honohan, 1995. "The Public Policy Role of the European Investment Bank within the EU," Journal of Common Market Studies, Wiley Blackwell, vol. 33(3), pages 315-330, September.
  • Handle: RePEc:bla:jcmkts:v:33:y:1995:i:3:p:315-330

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    References listed on IDEAS

    1. Honohan, Patrick, 1992. "European Community Lending and the Structural Funds," Research Series, Economic and Social Research Institute (ESRI), number PRS15.
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    Cited by:

    1. Zeilbeck, Severin, 2015. "An investment initiative for fiscally constrained EU member states: The role of synergetic financial instruments," IPE Working Papers 58/2015, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    2. Elio Londero, 2009. "Some Implications of Multilateral Financing to the Private Sector without Sovereign Guarantee," ICER Working Papers 08-2009, ICER - International Centre for Economic Research.
    3. Judith CLIFTON & Daniel D√ćAZ-FUENTES & JULIO REVUELTA, 2013. "Explaining Infrastructure Investment Decisions at the European Investment Bank 1958-2004," Departmental Working Papers 2013-06, Department of Economics, Management and Quantitative Methods at Universit√† degli Studi di Milano.
    4. Arestis, Philip & McCauley, Kevin & Sawyer, Malcolm, 2001. "An Alternative Stability Pact for the European Union," Cambridge Journal of Economics, Oxford University Press, vol. 25(1), pages 113-130, January.

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