Hendrik Hakenes Should Governments Have Their Own Banks?

Hendrik Hakenes is Senior Research Fellow at the Max Planck Institute for Research on Collective Goods and Professor of Finance, at the Friederich-Willhelms University, Bonn (Germany). Hakenes’ research revolves around industrial economics, banking and finance, and risk management. His research amounts to a model that compares different systems of banking and financing social welfare. Hakenes proposes that those development banks, which are not allowed to compete with the private banking sector, are the most efficient way to provide state aid.

Area of Research

Theory of Financial Intermediation and Bank Regulation

Hendrik Hakenes and Isabel Schnabel. "Bank Bonuses and Bailouts." Journal of Money, Credit and Banking 46, 1 (2014): 259–288.  
John H. Boyd and Hendrik Hakenes. "Looting and Gambling in Banking Crises." Journal of Economic Theory 149 (2014): 43–64.  
Christa Hainz and Hendrik Hakenes. "The Politician and His Banker." Journal of Public Economics 96 (2012): 218–225.  
Reint Gropp, Hendrik Hakenes and Isabel Schnabel. "Competition, Risk-Shifting, and Public Bail-Out Policies." Review of Financial Studies 24, 6 (2011): 2084-2120.  
Hendrik Hakenes, Iftekhar Hasan, Phil Molyneux and Ru Xie. "Small Banks and Local Economic Development." Review of Finance 19 (2015).  

since 2011

Professor of Finance

University of Bonn (Rheinische Friedrich-Wilhelms-Universität Bonn) (more details)

2008-2013

Director

of the “Hannover Center of Finance”

2007-2011

Professor of Economics

University of Hanover (Leibniz Universität Hannover)

Especially Financial Economics

2007

Guest Researcher

University of Mannheim (Universität Mannheim)

2005-2006

Visiting Postdoctoral Fellow

University of Minnesota

Finance Department of the Carlson School of Management

2005

Guest Researcher

Deutsche Bundesbank, Frankfurt a.M.

2004-2007

Senior Research Fellow

Max Planck Society

Max Planck Institute for Research on Collective Goods

2002-2004

Postdoctoral Researcher

University of Mannheim (Universität Mannheim)

Department of Economics, Chair Prof. Martin Hellwig

1998-2002

Doctoral Student and Junior Research Fellow

University of Münster (Westfälische Wilhelms-Universität Münster)

Department of Banking, Prof. Dr. Andreas Pfingsten

2001

PhD in Economics

University of Münster (Westfälische Wilhelms-Universität Münster)

Thesis “Banks as Delegated Risk Managers.”

1998

Diploma in Mathematics

University of Bonn (Rheinische Friedrich-Wilhelms-Universität Bonn) (more details)

Thesis “Parametric Interpolation by Third Degree Polynomial Curves”

CESifo Economic Studies

Credit and Banking

European Economic Review

Journal of the European Economic Association

Finance Research Letters

Finnish Economic Papers

German Economic Review

International Economic Review

Journal of Banking and Finance

Journal of the European Economic Association

Journal of Financial Intermediation

Journal of Institutional and Theoretical Economics

Journal of Money

Kredit und Kapital

Rand Journal of Economics

Review of Finance

Review of Economic Studies

Schmalenbach Business Review

Zeitschrift für Betriebswirtschaftslehre

American Economic Association (AEA)

European Economic Association (EEA)

German Economic Association (VfS, especially the committee for industrial economics)

German Academic Association for Business Research (VHB)

German Finance Association (DGF)

German Economic Asociation for Business Administration (GEABA)

© University of Bonn

University of Bonn (Rheinische Friedrich-Wilhelms-Universität Bonn)


Bonn is one of the large universities in Germany, with around 36,000 students, 550 professors, 6,500 other staff staff. It offers a wide disciplinary spectrum comprising some 200 different degree programmes, from Agricultural Science to Tibetan Studies. This diversity is what characterizes Bonn as a full-range university with a strong international orientation. In many international university rankings Bonn is placed among the 100 best universities in the world.Its academic and research profile features internationally renowned specializations in the fields of Mathematics, Physics/Astronomy, Economics, Chemistry, Pharma Research, Biosciences, Genetic Medicine, Neurosciences and Philosophy/Ethics. Other disciplines, such as Geography and Law, are of outstanding importance within the German research scene.

The Rheinische Friedrich-Wilhelms-Universität Bonn is rooted in a long tradition going back almost 200 years. It was founded in 1818 by Friedrich-Wilhelm III, the Prussian king whose name it bears. Imbued with the spirit of Wilhelm von Humboldt, the university quickly joined the circle of Germany's most distinguished universities and became a major pole of attraction for leading scholars as well as students.The list of famous professors ranges from the astronomer Friedrich Wilhelm Argelander (1799-1875), through the chemist August Kekulé von Stradonitz (1829–1896) and political economist Josef Schumpeter (1883–1950) to the philologist Ernst Robert Curtius (1886–1956) and the theologists Karl Barth (1886–1968) and Joseph Ratzinger (born 1927), now Pope Benedict XVI. Bonn's best-known students include Heinrich Heine, Karl Marx, Friedrich Nietzsche, and Konrad Adenauer.

The university is proud of a long list of award-winning scientists and scholars, with about twenty Leibniz Prize winners and around thirty ERC grantees. In the last three decades two professors have received the Nobel Prize: Wolfgang Paul (for Physics, 1989) and Reinhard Selten (for Economics, 1994). (Source: University of Bonn)

Map

The model presented in this video is designed to compare different options for the relation between banks and the public sector and different types of subsidies regarding their effects on social welfare. Comparing five options for interlinkage shows that the best choice often are development banks, if they are not allowed to compete with the private banking sector. In this case firms that would not get money from private banks are granted state aid, HENDRIK HAKENES explains, and the private banking sector is not endangered.

LT Video Publication DOI: https://doi.org/10.21036/LTPUB10024

The Politician and His Banker-How to Efficiently Grant State Aid

  • Christa Hainz and Hendrik Hakenes
  • Journal of Public Economics
  • Published in 2012

Chicago

Christa Hainz and Hendrik Hakenes. "The Politician and His Banker-How to Efficiently Grant State Aid." Journal of Public Economics 96 (2012): 218-225.

The Politician and His Banker

  • Hakenes, Hendrik; Hainz, Christa
  • Published in 2008

Chicago

Hendrik Hakenes and Christa Hainz. "The Politician and His Banker." Unpublished. 2008.