The Public Bank Movement: A Response to Local Economic Development and Infrastructure Needs in Three U.S. States

Deborah M. Figart and Mariam Majd

Challenge, 2016, vol. 59, issue 6, 461-479

Abstract: Credit is the lifeblood of growth, but it is also the lifeblood of the community. Is there need for public banks to make loans dedicated to community needs? These authors think so.Since emerging from the Great Recession, more than twenty U.S. states have introduced bills to institute state-owned banks or to study their feasibility. Such banks would take public needs into account. Infrastructure is an obvious example of investments not being adequately made. A public agency, however, may be the best way to enable this movement to succeed.

Date: 2016
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DOI: 10.1080/05775132.2016.1239962

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