Borrowing Costs and The Role of Multilateral Development Banks: Evidence from Cross-Border Syndicated Bank Lending
Borrowing Costs and The Role of Multilateral Development Banks: Evidence from Cross-Border Syndicated Bank Lending

Author: Daniel Gurara

Publisher: International Monetary Fund

Published: 2018-12-07

Total Pages: 44

ISBN-13: 1484386205

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Cross-border bank lending is a growing source of external finance in developing countries and could play a key role for infrastructure financing. This paper looks at the role of multilateral development banks (MDBs) on the terms of syndicated loan deals, focusing on loan pricing. The results show that MDBs' participation is associated with higher borrowing costs and longer maturities---signaling a greater willingness to finance high risk projects which may not be financed by the private sector---but it is also associated with lower spreads for riskier borrowers. Overall, our findings suggest that MDBs could crowd in private investment in developing countries through risk mitigation.

Mobilization Effects of Multilateral Development Banks
Mobilization Effects of Multilateral Development Banks

Author: Chiara Broccolini

Publisher: International Monetary Fund

Published: 2019-02-15

Total Pages: 51

ISBN-13: 1484393864

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We use loan-level data on syndicated lending to a large sample of developing countries between 1993 and 2017 to estimate the mobilization effects of multilateral development banks (MDBs), controlling for a large set of fixed effects. We find evidence of positive and significant direct and indirect mobilization effects of multilateral lending on the number of deals and on the total size of bank inflows. The number of lending banks and the average maturity of syndicated loans also increase after MDB lending. These effects are present not only on impact, but they last up to three years and are not offset by a decline in bond financing. There is no evidence of anticipation effects and the results are not driven by confounding factors, such as the presence of large global banks, Chinese lending and aid flows. Finally, the economic effects are sizable, suggesting that MBDs can play a vital role to mobilize private sector financing to achieve the goals of the 2030 Development Agenda.

Mobilization Effects of Multilateral Development Banks
Mobilization Effects of Multilateral Development Banks

Author: Chiara Broccolini

Publisher: International Monetary Fund

Published: 2019-02-15

Total Pages: 51

ISBN-13: 1498301061

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We use loan-level data on syndicated lending to a large sample of developing countries between 1993 and 2017 to estimate the mobilization effects of multilateral development banks (MDBs), controlling for a large set of fixed effects. We find evidence of positive and significant direct and indirect mobilization effects of multilateral lending on the number of deals and on the total size of bank inflows. The number of lending banks and the average maturity of syndicated loans also increase after MDB lending. These effects are present not only on impact, but they last up to three years and are not offset by a decline in bond financing. There is no evidence of anticipation effects and the results are not driven by confounding factors, such as the presence of large global banks, Chinese lending and aid flows. Finally, the economic effects are sizable, suggesting that MBDs can play a vital role to mobilize private sector financing to achieve the goals of the 2030 Development Agenda.

Handbook on Transport Pricing and Financing
Handbook on Transport Pricing and Financing

Author: Alejandro Tirachini

Publisher: Edward Elgar Publishing

Published: 2023-05-09

Total Pages: 497

ISBN-13: 1800375557

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Taking a comprehensive approach to two central, closely intertwined themes in the field of transport economics, this illuminating Handbook recognizes the critical socioeconomic importance of transport pricing and financing.

Innovation
Innovation

Author:

Publisher: BoD – Books on Demand

Published: 2024-03-13

Total Pages: 512

ISBN-13: 1837689962

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Investments in research and development are crucial for the innovation process in modern societies. There are more perspectives through which innovation can realize important results, including the knowledge creation source, the digital innovation relative to artificial intelligence (AI), the sustainable transition from traditional technology to renewable technology, and the role of the concept of entrepreneurship linked to innovation. Economic operators need different skills to cope with high degrees of competitiveness and achieve the highest profit levels. The analysis carried out in this book considers the interactions among innovation, sustainability, and entrepreneurship. This in-depth investigation identifies the relevant forces useful for the transformations of modern economies and suggests appropriate support policies.

Economic Outlook for Southeast Asia, China and India 2022 Financing Sustainable Recovery from COVID-19
Economic Outlook for Southeast Asia, China and India 2022 Financing Sustainable Recovery from COVID-19

Author: OECD

Publisher: OECD Publishing

Published: 2022-03-22

Total Pages: 250

ISBN-13: 9264327959

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Economic Outlook for Southeast Asia, China and India 2022 addresses financing sustainable recovery from the COVID-19 pandemic. The COVID-19 pandemic is proving to be extremely costly, both economically and socially and sustainable financing solutions are crucial for an equitable and inclusive recovery.

The Emerald Handbook of Ethical Finance and Corporate Social Responsibility
The Emerald Handbook of Ethical Finance and Corporate Social Responsibility

Author: Ahmed Imran Hunjra

Publisher: Emerald Group Publishing

Published: 2024-05-06

Total Pages: 689

ISBN-13: 1804554065

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The term ethical finance refers to finance that considers environmental, social, and governance (ESG) aspects influencing a borrower and/or its possessions. The authors provide a fresh look at ESG aspects along with CSR implementation for sustainable development, which has global and long-term repercussions.

Monetary Policy Challenges in Latin America
Monetary Policy Challenges in Latin America

Author: Fernando Toledo

Publisher: Edward Elgar Publishing

Published: 2023-10-06

Total Pages: 305

ISBN-13: 1802200703

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This ground-breaking book analyses the severe monetary policy challenges facing Latin American countries. Contributors reflect on how these issues should be addressed by policy-makers, identifying the need for a synergic response from regional central banks.

Macroeconomic Research in Low-income Countries
Macroeconomic Research in Low-income Countries

Author: Hites Ahir

Publisher: International Monetary Fund

Published: 2021-03-24

Total Pages: 76

ISBN-13: 1513566601

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Despite strong economic growth since 2000, many low-income countries (LICs) still face numerous macroeconomic challenges, even prior to the COVID-19 pandemic. Despite the deceleration in real GDP growth during the 2008 global financial crisis, LICs on average saw 4.5 percent of real GDP growth during 2000 to 2014, making progress in economic convergence toward higher-income countries. However, the commodity price collapse in 2014–15 hit many commodity-exporting LICs and highlighted their vulnerabilities due to the limited extent of economic diversification. Furthermore, LICs are currently facing a crisis like no other—COVID-19, which requires careful policymaking to save lives and livelihoods in LICs, informed by policy debate and thoughtful research tailored to the COVID-19 situation. There are also other challenges beyond COVID-19, such as climate change, high levels of public debt burdens, and persistent structural issues.

Global Waves of Debt
Global Waves of Debt

Author: M. Ayhan Kose

Publisher: World Bank Publications

Published: 2021-03-03

Total Pages: 403

ISBN-13: 1464815453

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The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.