Opportunities for UK development banks

The research is exploring the activities of state investment banks from different countries and regions, and analysing their role in their respective economies. It aims identify the design features that have enabled some banks to become leading domestic and global actors driving economic growth and innovation. The objective of the study is to inform policymaking at the UK and devolved levels on the promotion of new sources of patient, long-term finance, including the new Scottish National Investment Bank that was announced in the Scottish Government's 2017-18 Programme for Government.

Further reading

• Mariana Mazzucato and Caetano Penna (2015) “The Rise of Mission-Oriented State Investment Banks: The Cases of Germany's KfW and Brazil's BNDES”, ISIGrowth working paper, 1.
• Mariana Mazzucato and Caetano Penna (2016) “Beyond market failures: the market creating and shaping roles of state investment banks”, Journal of Economic Policy Reform, 19(4): 305-326, SPRU working paper version
• Mariana Mazzucato (2016) "From Market Fixing to Market-Creating: A new framework for innovation policy",  Special Issue of Industry and Innovation: “Innovation Policy – can it make a difference?”, 23 (2)
• Mariana Mazzucato and Gregor Semieniuk (2017) “Public financing of innovation: new questions”, Oxford Review of Economic Policy.
• Laurie Macfarlane (2016) "Blueprint for a Scottish National Investment Bank", New Economics Foundation.