TY - BOOK ID - 136621892 TI - Why Did Public Banks Lend More During the Global Financial Crisis? AU - Bosshardt, Joshua. AU - Cerutti, Eugenio. PY - 2020 SN - 1513548212 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Brazil KW - Banks and Banking KW - Macroeconomics KW - Money and Monetary Policy KW - Industries: Financial Services KW - Financial Crises KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - Structure, Scope, and Performance of Government KW - Publicly Provided Goods: Mixed Markets KW - Monetary Policy, Central Banking, and the Supply of Money and Credit: General KW - Banking KW - Monetary economics KW - Economic & financial crises & disasters KW - Finance KW - State-owned banks KW - Bank credit KW - Global financial crisis of 2008-2009 KW - Loans KW - Financial institutions KW - Money KW - Financial crises KW - Nonperforming loans KW - Banks and banking KW - Credit KW - Global Financial Crisis, 2008-2009 UR - https://www.unicat.be/uniCat?func=search&query=sysid:136621892 AB - During the Global Financial Crisis (GFC), state-owned or public banks lent relatively more than domestic private banks in many countries. However, data limitations have hindered a thorough assessment of what led public banks to better maintain lending during the GFC. Using a novel bank-level dataset covering 25 emerging market economies, we show that public banks lent relatively more during the GFC because they pursued an objective of helping to stabilize the economy, rather than because they had superior fundamentals or access to public or depositors’ funding. Nonetheless, their countercyclical behavior seems unique to the GFC rather than a regular characteristic of public banks before and after the GFC. ER -