Is a State Bank a Useful Economic Development Tool in the United States?

Bob Chirinko

No 10098, CESifo Working Paper Series from CESifo

Abstract: The possibility of creating a state bank has received much recent attention in the United States. In 2021, six states introduced legislation to create a state bank; in 2019, similar legislation was enacted in California for municipal banks. This paper develops a framework to evaluate state banking, reviews prior experiences with state banking and related alternatives to traditional private banking and identifies five questions determining the advisability of creating a state bank. The overall goal is to shed some light on whether a state bank can be a useful tool to further state economic development and the welfare of state residents.

Keywords: state bank; public bank; credit allocation; economic development (search for similar items in EconPapers)
JEL-codes: G21 G28 H70 (search for similar items in EconPapers)
Date: 2022
New Economics Papers: this item is included in nep-ban and nep-fdg
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_10098

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