Complementarity between Multilateral Lending and Private Flows to Developing Countries : Some Empirical Results

Despite the surge in private capital flows in the 1990s, lending by the multilateral development banks continues to be a significant source of external finance for low-income and lower-middle-income countries. And for middle-income countries, which...

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Main Author:	Ratha, Dilip
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	FINANCIAL FLOWS MULTILATERAL AID PRIVATE FINANCE INVESTMENT ENVIRONMENT CAPITAL FLOWS PRIVATE CAPITAL FLOWS EXTERNAL FINANCE CREDIT RATIONING ADB BANK LENDING BANK LOANS BONDS BORROWING COUNTRIES CONCESSIONAL LENDING CREDIT RATIONING CYCLICAL BEHAVIOR DATA ANALYSIS DATA SET DEBT DEBT RELIEF DEPENDENT VARIABLE DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT ASSISTANCE DEVELOPMENT ECONOMICS DEVELOPMENT ISSUES DEVELOPMENT POLICY ECONOMIC ENVIRONMENT ECONOMIC MANAGEMENT ECONOMIC POLICY EMERGING MARKET ECONOMIES EMERGING MARKETS EXPORTS FEDERAL RESERVE BANK OF NEW YORK FINANCIAL CRISES FINANCIAL INSTITUTIONS FOREIGN DIRECT INVESTMENT FOREIGN ENTRY FUTURE RESEARCH GDP GLOBAL DEVELOPMENT GNP GNP PER CAPITA GROWTH POTENTIAL GROWTH RATE HOUSING INCOME INCOME COUNTRIES INCOME DEVELOPING COUNTRIES INCOME GROUPS INCOME LEVEL INDUSTRIAL COUNTRIES INSTITUTIONAL ENVIRONMENT INTEREST RATE INTERNATIONAL RESERVES LABOR MARKETS LENDING INSTITUTIONS LOW- INCOME COUNTRIES LOW-INCOME COUNTRIES MACROECONOMICS MARKET ECONOMIES MDB MIDDLE-INCOME COUNTRIES MORAL HAZARD MULTILATERAL DEVELOPMENT BANKS MULTIVARIATE REGRESSIONS OFFICIAL AID PER CAPITA INCOME POLICY ENVIRONMENT POLICY REFORM POLICY RESEARCH POOR COUNTRIES POPULATION SIZE PORTFOLIO POSITIVE EFFECTS POVERTY REDUCTION PRIVATE CAPITAL PRIVATE FLOWS PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE SECTORS PUBLIC INVESTMENT PUBLIC POLICY PUBLIC SERVICES RATING AGENCIES REGIONAL DEVELOPMENT BANKS SCALE EFFECT SHORT TERM SHORT-TERM DEBT SOCIAL POLICY STRUCTURAL FACTORS STRUCTURAL REFORMS URUGUAY ROUND WEALTH WTO ADB
Online Access:	http://documents.worldbank.org/curated/en/2001/12/1660281/complementarity-between-multilateral-lending-private-flows-developing-countries-some-empirical-results http://hdl.handle.net/10986/19337

id	okr-10986-19337
recordtype	oai_dc
spelling	okr-10986-193372021-04-23T14:03:42Z Complementarity between Multilateral Lending and Private Flows to Developing Countries : Some Empirical Results Ratha, Dilip FINANCIAL FLOWS MULTILATERAL AID PRIVATE FINANCE INVESTMENT ENVIRONMENT CAPITAL FLOWS PRIVATE CAPITAL FLOWS EXTERNAL FINANCE CREDIT RATIONING ADB BANK LENDING BANK LOANS BONDS BORROWING COUNTRIES CONCESSIONAL LENDING CREDIT RATIONING CYCLICAL BEHAVIOR DATA ANALYSIS DATA SET DEBT DEBT RELIEF DEPENDENT VARIABLE DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT ASSISTANCE DEVELOPMENT ECONOMICS DEVELOPMENT ISSUES DEVELOPMENT POLICY ECONOMIC ENVIRONMENT ECONOMIC MANAGEMENT ECONOMIC POLICY EMERGING MARKET ECONOMIES EMERGING MARKETS EXPORTS FEDERAL RESERVE BANK OF NEW YORK FINANCIAL CRISES FINANCIAL INSTITUTIONS FOREIGN DIRECT INVESTMENT FOREIGN ENTRY FUTURE RESEARCH GDP GLOBAL DEVELOPMENT GNP GNP PER CAPITA GROWTH POTENTIAL GROWTH RATE HOUSING INCOME INCOME COUNTRIES INCOME DEVELOPING COUNTRIES INCOME GROUPS INCOME LEVEL INDUSTRIAL COUNTRIES INSTITUTIONAL ENVIRONMENT INTEREST RATE INTERNATIONAL RESERVES LABOR MARKETS LENDING INSTITUTIONS LOW- INCOME COUNTRIES LOW-INCOME COUNTRIES MACROECONOMICS MARKET ECONOMIES MDB MIDDLE-INCOME COUNTRIES MORAL HAZARD MULTILATERAL DEVELOPMENT BANKS MULTIVARIATE REGRESSIONS OFFICIAL AID PER CAPITA INCOME POLICY ENVIRONMENT POLICY REFORM POLICY RESEARCH POOR COUNTRIES POPULATION SIZE PORTFOLIO POSITIVE EFFECTS POVERTY REDUCTION PRIVATE CAPITAL PRIVATE CAPITAL FLOWS PRIVATE FLOWS PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE SECTORS PUBLIC INVESTMENT PUBLIC POLICY PUBLIC SERVICES RATING AGENCIES REGIONAL DEVELOPMENT BANKS SCALE EFFECT SHORT TERM SHORT-TERM DEBT SOCIAL POLICY STRUCTURAL FACTORS STRUCTURAL REFORMS URUGUAY ROUND WEALTH WTO CREDIT RATIONING ADB Despite the surge in private capital flows in the 1990s, lending by the multilateral development banks continues to be a significant source of external finance for low-income and lower-middle-income countries. And for middle-income countries, which receive the lion's share of private flows, multilateral lending has played an important stabilizing role during times of credit rationing. Even though multilateral loans may have behaved countercyclically with respect to private flows in the short term, these loans also tended to complement private flows in the medium term by signaling-and often fostering-a better investment environment in the borrowing countries. 2014-08-14T21:07:19Z 2014-08-14T21:07:19Z 2001-12 http://documents.worldbank.org/curated/en/2001/12/1660281/complementarity-between-multilateral-lending-private-flows-developing-countries-some-empirical-results http://hdl.handle.net/10986/19337 English en_US Policy Research Working Paper;No. 2746 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	FINANCIAL FLOWS MULTILATERAL AID PRIVATE FINANCE INVESTMENT ENVIRONMENT CAPITAL FLOWS PRIVATE CAPITAL FLOWS EXTERNAL FINANCE CREDIT RATIONING ADB BANK LENDING BANK LOANS BONDS BORROWING COUNTRIES CONCESSIONAL LENDING CREDIT RATIONING CYCLICAL BEHAVIOR DATA ANALYSIS DATA SET DEBT DEBT RELIEF DEPENDENT VARIABLE DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT ASSISTANCE DEVELOPMENT ECONOMICS DEVELOPMENT ISSUES DEVELOPMENT POLICY ECONOMIC ENVIRONMENT ECONOMIC MANAGEMENT ECONOMIC POLICY EMERGING MARKET ECONOMIES EMERGING MARKETS EXPORTS FEDERAL RESERVE BANK OF NEW YORK FINANCIAL CRISES FINANCIAL INSTITUTIONS FOREIGN DIRECT INVESTMENT FOREIGN ENTRY FUTURE RESEARCH GDP GLOBAL DEVELOPMENT GNP GNP PER CAPITA GROWTH POTENTIAL GROWTH RATE HOUSING INCOME INCOME COUNTRIES INCOME DEVELOPING COUNTRIES INCOME GROUPS INCOME LEVEL INDUSTRIAL COUNTRIES INSTITUTIONAL ENVIRONMENT INTEREST RATE INTERNATIONAL RESERVES LABOR MARKETS LENDING INSTITUTIONS LOW- INCOME COUNTRIES LOW-INCOME COUNTRIES MACROECONOMICS MARKET ECONOMIES MDB MIDDLE-INCOME COUNTRIES MORAL HAZARD MULTILATERAL DEVELOPMENT BANKS MULTIVARIATE REGRESSIONS OFFICIAL AID PER CAPITA INCOME POLICY ENVIRONMENT POLICY REFORM POLICY RESEARCH POOR COUNTRIES POPULATION SIZE PORTFOLIO POSITIVE EFFECTS POVERTY REDUCTION PRIVATE CAPITAL PRIVATE CAPITAL FLOWS PRIVATE FLOWS PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE SECTORS PUBLIC INVESTMENT PUBLIC POLICY PUBLIC SERVICES RATING AGENCIES REGIONAL DEVELOPMENT BANKS SCALE EFFECT SHORT TERM SHORT-TERM DEBT SOCIAL POLICY STRUCTURAL FACTORS STRUCTURAL REFORMS URUGUAY ROUND WEALTH WTO CREDIT RATIONING ADB
spellingShingle	FINANCIAL FLOWS MULTILATERAL AID PRIVATE FINANCE INVESTMENT ENVIRONMENT CAPITAL FLOWS PRIVATE CAPITAL FLOWS EXTERNAL FINANCE CREDIT RATIONING ADB BANK LENDING BANK LOANS BONDS BORROWING COUNTRIES CONCESSIONAL LENDING CREDIT RATIONING CYCLICAL BEHAVIOR DATA ANALYSIS DATA SET DEBT DEBT RELIEF DEPENDENT VARIABLE DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT ASSISTANCE DEVELOPMENT ECONOMICS DEVELOPMENT ISSUES DEVELOPMENT POLICY ECONOMIC ENVIRONMENT ECONOMIC MANAGEMENT ECONOMIC POLICY EMERGING MARKET ECONOMIES EMERGING MARKETS EXPORTS FEDERAL RESERVE BANK OF NEW YORK FINANCIAL CRISES FINANCIAL INSTITUTIONS FOREIGN DIRECT INVESTMENT FOREIGN ENTRY FUTURE RESEARCH GDP GLOBAL DEVELOPMENT GNP GNP PER CAPITA GROWTH POTENTIAL GROWTH RATE HOUSING INCOME INCOME COUNTRIES INCOME DEVELOPING COUNTRIES INCOME GROUPS INCOME LEVEL INDUSTRIAL COUNTRIES INSTITUTIONAL ENVIRONMENT INTEREST RATE INTERNATIONAL RESERVES LABOR MARKETS LENDING INSTITUTIONS LOW- INCOME COUNTRIES LOW-INCOME COUNTRIES MACROECONOMICS MARKET ECONOMIES MDB MIDDLE-INCOME COUNTRIES MORAL HAZARD MULTILATERAL DEVELOPMENT BANKS MULTIVARIATE REGRESSIONS OFFICIAL AID PER CAPITA INCOME POLICY ENVIRONMENT POLICY REFORM POLICY RESEARCH POOR COUNTRIES POPULATION SIZE PORTFOLIO POSITIVE EFFECTS POVERTY REDUCTION PRIVATE CAPITAL PRIVATE CAPITAL FLOWS PRIVATE FLOWS PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE SECTORS PUBLIC INVESTMENT PUBLIC POLICY PUBLIC SERVICES RATING AGENCIES REGIONAL DEVELOPMENT BANKS SCALE EFFECT SHORT TERM SHORT-TERM DEBT SOCIAL POLICY STRUCTURAL FACTORS STRUCTURAL REFORMS URUGUAY ROUND WEALTH WTO CREDIT RATIONING ADB Ratha, Dilip Complementarity between Multilateral Lending and Private Flows to Developing Countries : Some Empirical Results
relation	Policy Research Working Paper;No. 2746
description	Despite the surge in private capital flows in the 1990s, lending by the multilateral development banks continues to be a significant source of external finance for low-income and lower-middle-income countries. And for middle-income countries, which receive the lion's share of private flows, multilateral lending has played an important stabilizing role during times of credit rationing. Even though multilateral loans may have behaved countercyclically with respect to private flows in the short term, these loans also tended to complement private flows in the medium term by signaling-and often fostering-a better investment environment in the borrowing countries.
format	Publications & Research :: Policy Research Working Paper
author	Ratha, Dilip
author_facet	Ratha, Dilip
author_sort	Ratha, Dilip
title	Complementarity between Multilateral Lending and Private Flows to Developing Countries : Some Empirical Results
title_short	Complementarity between Multilateral Lending and Private Flows to Developing Countries : Some Empirical Results
title_full	Complementarity between Multilateral Lending and Private Flows to Developing Countries : Some Empirical Results
title_fullStr	Complementarity between Multilateral Lending and Private Flows to Developing Countries : Some Empirical Results
title_full_unstemmed	Complementarity between Multilateral Lending and Private Flows to Developing Countries : Some Empirical Results
title_sort	complementarity between multilateral lending and private flows to developing countries : some empirical results
publisher	World Bank, Washington, DC
publishDate	2014
url	http://documents.worldbank.org/curated/en/2001/12/1660281/complementarity-between-multilateral-lending-private-flows-developing-countries-some-empirical-results http://hdl.handle.net/10986/19337
_version_	1764439754487627776

Complementarity between Multilateral Lending and Private Flows to Developing Countries : Some Empirical Results

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