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Community Development Banking, A Proposal to Establish a Nationwide System of Community Development Banks

Author

Listed:
  • Hyman P. Minsky
  • Dimitri B. Papadimitriou

    ()

  • Ronnie J. Phillips
  • L. Randall Wray

    ()

Abstract

This brief proposes that the establishment of a nationwide system of community development banks (CDBs) would advance the capital development of the economy. The proposal is based on the notion that a critical function of the financial system is not being adequately performed by existing institutions for low-income citizens, inner-city minorities, and entrepreneurs who seek modest financing for small businesses. The primary goals of the CDBs are to deliver credit, payment, and savings opportunities to communities not well served by banks and to provide financing throughout a designated area for businesses too small to attract the interest of the investment banking and normal commercial banking communities.

Suggested Citation

  • Hyman P. Minsky & Dimitri B. Papadimitriou & Ronnie J. Phillips & L. Randall Wray, "undated". "Community Development Banking, A Proposal to Establish a Nationwide System of Community Development Banks," Economics Public Policy Brief Archive 3, Levy Economics Institute.
  • Handle: RePEc:lev:levppb:3
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    Cited by:

    1. Dimitri B. Papadimitriou & Ronnie J. Phillips & L. Randall Wray, 1994. "Community-based Factoring Companies and Small Business Lending," Economics Working Paper Archive wp_108, Levy Economics Institute.
    2. Wray L. Randall, 2013. "What Do Banks Do? What Should Banks Do? A Minskian Perspective," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 3(3), pages 1-35, April.
    3. Mettenheim Kurt, 2013. "Back to Basics in Banking Theory and Varieties of Finance Capitalism," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 3(3), pages 357-405, May.
    4. L. Randall Wray, 2011. "What Should a Financial System Do? Minskian Lessons from the Global Financial Crisis," Chapters,in: The Global Financial Crisis, chapter 13 Edward Elgar Publishing.
    5. Moe Thorvald Grung, 2013. "Control of Finance as a Prerequisite for Successful Monetary Policy: A Reinterpretation of Henry Simons’ “Rules versus Authorities in Monetary Policy”," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 3(3), pages 1-18, April.
    6. Jayati Ghosh, 2012. "Appreciating diversity: Regulatory reform and banking practices in the developed and developing worlds," PSL Quarterly Review, Economia civile, vol. 65(263), pages 429-436.
    7. L. Randall Wray, 2010. "What Do Banks Do? What Should Banks Do?," Economics Working Paper Archive wp_612, Levy Economics Institute.
    8. Steven Kates (ed.), 2011. "The Global Financial Crisis," Books, Edward Elgar Publishing, number 14454.
    9. Marek Hudon & Camille Meyer, 2013. "Microfinance and common goods: A study of Brazilian community development banks," Working Papers CEB 13-049, ULB -- Universite Libre de Bruxelles.
    10. Vera Zamagni, 2012. "Note bibliografiche: Perrotta C. e Sunna C. (a cura di): L’arretratezza del Mezzogiorno. Le idee, l’economia, la storia," Moneta e Credito, Economia civile, vol. 65(260), pages 329-334.

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