Development banks and state-led investments

New Research Questions

Bibliographic Data

ID6149738
AuthorsOlga Mikheeva (0000-0001-8092-979X, University College London, corresponding author)
Year2023
Volume14
Issue1
Pages111-133
Publication date2023-11-30
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueInnovation and Development (JOURNAL)
Journal identifiersISSN: 2157-9318 • E-ISSN: 2157-930X
PublisherTaylor & Francis (PUBLISHER • GB)
DOI10.1080/2157930x.2023.2285891
OpenAlexW4389240212
LanguageEN
Citations received4
References cited76

The aim of the article is to bring in the concept of governance and financial bureaucracies into the discussion on financing of innovation and development. The article refers to national development banks as the example of state-backed investors who make investment decisions in line with policy priorities (to prioritized sectors, technologies and development projects). While building on the examples of public development banks, the article seeks to conceptualize the governance of public strategic investments through the notion of a state-led 'investment function'. In doing so, the article seeks complementarity of the concepts that derive from economics and innovation literature on one hand and public policy and governance literature on the other hand. This study suggests that the governance of state-led investments can be understood as a combination of financial policies, institutions and organizational routines that translate into capacities of respective public bureaucratic structures to make financing decisions

Bureaucracy · Business · Complementarity (molecular biology · Corporate governance · Economics · Function (biology · Investment (military · Political science · Politics · State (computer science · Private Equity and Venture Capital · Public Administration · Public-Private Partnership Projects · State Capitalism and Financial Governance · Finance

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Open DOIOpen Access