Economic Transformations of Regions: The Role of Banks1

摘要

Banks may take roles in five different regional trajectories: path extension, path modernization/upgrading, path diversification, path importation, and new path creation. Banks operate as a selection device, both as a direct source of financial resources to more or less risky endeavors in firms and start-ups and as a 'disciplining' influence on management behavior as financial institutions and their regulators spell out 'the rules of the game.' Three elements seem to be common in banks' evaluation of entrepreneurs: the business concept, the person (experience, no payment remarks), and gut feeling.