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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. 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.
    3. L. Randall Wray, 2011. "What Should a Financial System Do? Minskian Lessons from the Global Financial Crisis," Chapters, in: Steven Kates (ed.), The Global Financial Crisis, chapter 13, Edward Elgar Publishing.
    4. Papadimitriu, Dimitri (Пападимитриу, Димитри) & Wray, Randall (Рэй, Рэндалл), 2016. "Hyman Minsky's "Stabilizing an unstable economy" - twenty years later [«Стабилизируя Нестабильную Экономику» Хаймана Мински — Двадцать Лет Спустя]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 2, pages 22-51, April.
    5. Paulo Reis Mourao & Wiliam Retamiro, 2021. "Community development banks (CDB): a bibliometric analysis of the first 2 decades of scientific production," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(1), pages 477-493, January.
    6. Steven Kates (ed.), 2011. "The Global Financial Crisis," Books, Edward Elgar Publishing, number 14454.
    7. 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.
    8. 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 277-311, April.
    9. 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 261-276, April.
    10. Ronnie J. Phillips, "undated". "Narrow Banking Reconsidered, The Functional Approach to Financial Reform," Economics Public Policy Brief Archive ppb_17, Levy Economics Institute.
    11. 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.
    12. L. Randall Wray, 2010. "What Do Banks Do? What Should Banks Do?," Economics Working Paper Archive wp_612, Levy Economics Institute.
    13. Jan Kregel, 2017. "The Concert of Interests in the Age of Trump," Economics Policy Note Archive 17-2, Levy Economics Institute.
    14. Giuseppe Mastromatteo & Giuseppe Mastromatteo, 2016. "Minsky at Basel: A Global Cap to Build an Effective Postcrisis Banking Supervision Framework," Economics Working Paper Archive wp_875, Levy Economics Institute.
    15. 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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