TAILIEUCHUNG - The Significance of German Savings Banks in regional Structural and Cohesion Policy: Can they avoid regional downward Spirals?

Unlike credit transfers, direct debits are initiated by the payee, which thereby ensures that its claim on the payer is fulfilled on time. However, this presupposes that the payer preauthorises the payee to collect payment (collection authorisation) or, by agreement with the payee, authorises its bank to debit its account in accordance with direct debit requests issued by that particular payee (debit authorisation). Bank customers who have IT systems are expected to submit their direct debits for collection to the bank in electronic form only, ie on magnetic tape or diskette. Any remaining direct debits which are still paper-based -. | The Significance of German Savings Banks in regional Structural and Cohesion Policy Can they avoid regional downward Spirals Stefan Gartner Institute for Work and Technology Munscheidstr. 14 45886 Gelsenkirchen Germany email gaertner@ Abstract This paper deals with savings banks in Germany Sparkassen in the context of regional structural and cohesion policy as well from a theoretical as an empirical point of view. What benefits the savings banks provides will be discussed on the one hand in terms of growth agenda and on the other hand in terms of cohesion policy. While making research on this topic the question arises if the regionally-limited savings banks are able to be as economically successful in poorer regions as in prosperous ones. This leads to the question if savings banks can outrun downward spirals in less developed regions Content 1 2 Regional Structural Policy between growth agenda and cohesion .4 3 The Theoretical Relevance of savings The Function of Banks does space matter .10 Banks and Capital Mobility and their Effects on Regional 4 Regional Banks and Lock-In Effect Is there any weakness of strong ties 15 Methodical approach and research Empirical 5 Regions and their Savings Banks A qualitative 6 Some Final 1 1 Introduction Traditionally the objective of European as well as German cohesion and regional structural policy is to develop structurally weak regions in order to reduce regional disparities. Therefore huge amounts of public money have been invested in poorer regions in the past for instance by subsidising inward investment. Lasting weak rates of growth persisting high unemployment rates a shrinking population and windfall gains as well as only short-term results of company recruitment pose the question if such a policy is still reasonable. Therefore in recent years a variety of different concepts and ideas for regional development have

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