TY - JOUR UR - http://doi.org/10.1080/17487870.2016.1216416 ID - discovery10045674 N1 - © 2016 Informa UK Limited, trading as Taylor & Francis Group. This version is the author accepted manuscript. For information on re-use, please refer to the publisher?s terms and conditions. JF - Journal of Economic Policy Reform PB - ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD N2 - The paper develops a typological framework of the roles of state investment banks (SIBs) in the economy. The typology identifies four different roles: countercyclical; developmental; venture capitalist; and challenge-led. The paper conceptually elaborates the typology by first providing a historical overview of SIBs, and then discussing how the mainstream ?market failure theory? justifies them. It then advances a different conceptualization based on insights from heterodox economics, showing that all roles of SIBs are more about market creating/shaping rather than market-failure fixing. The paper concludes with a proposal of a new agenda for research on SIBs based on our typological framework. SN - 1748-7889 SP - 305 AV - public Y1 - 2016/12/01/ TI - Beyond market failures: the market creating and shaping roles of state investment banks VL - 19 KW - Social Sciences KW - Economics KW - Planning & Development KW - Business & Economics KW - Public Administration KW - state investment banks KW - public investment policy KW - market failure KW - development banking KW - mission-oriented policy KW - RESEARCH-AND-DEVELOPMENT KW - INDUSTRIAL-DEVELOPMENT KW - POLICY INSTRUMENTS KW - TECHNOLOGY POLICY KW - INNOVATION KW - ENTREPRENEURSHIP KW - CHALLENGES KW - MODELS A1 - Mazzucato, M A1 - Penna, CCR EP - 326 IS - 4 ER -