Demand for World Bank Lending
Bridging the external financing gap has been an important factor in borrowing cgovernment's demand for World Bank loans. The demand for IBRD and IDA lending is positively related to an increase in debt service payments and inversely related to...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2001/07/1552027/demand-world-bank-lending http://hdl.handle.net/10986/19573 |
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okr-10986-195732021-04-23T14:03:43Z Demand for World Bank Lending Ratha, Dilip ADJUSTMENT LOANS BALANCE OF PAYMENTS BANK LENDING BANK LOANS BANK PRIVATIZATION BORROWING BORROWING COSTS BORROWING COUNTRIES BORROWINGS CAPITAL FLOWS CAPITAL MARKETS COMMITMENT COMMITMENTS CONCESSIONAL AID CONCESSIONAL LENDING CONCESSIONAL TERMS CONDITIONALITY CREDITORS DEBT DEBT CRISES DEBT PROBLEMS DEBT RELIEF DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICE REDUCTION DEBT SERVICE REDUCTION LOANS DEFAULTS DEVELOPMENT ASSISTANCE DEVELOPMENT ECONOMICS DEVELOPMENT FINANCE DISBURSEMENT DISBURSEMENTS ECONOMETRIC ANALYSIS ECONOMIC OUTLOOK ENTERPRISE OWNERSHIP EXPORTS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL STRENGTH FINANCIAL STRUCTURE FINANCING GAP FISCAL YEAR FOREIGN AID FREE TRADE GDP GOVERNMENT GUARANTEE GROWTH MODELS HUMAN CAPITAL INCOME INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERNATIONAL RESERVES INVESTMENT LENDING LENDER LENDER OF LAST RESORT LENDING INSTRUMENTS LENDING TERMS LIQUIDITY LOAN LOW INTEREST RATES MACROECONOMIC POLICY MATURITIES MATURITY MIDDLE INCOME COUNTRIES MULTILATERAL DEVELOPMENT BANKS OUTSTANDING DEBT PRIVATE BANKING PRIVATIZATION REORGANIZATION REPAYMENT SAVINGS TECHNICAL ASSISTANCE TIME SERIES TRADE DEFICIT WORLD BANK LENDING WORLD BANK LENDING INSTRUMENTS WORLD BANK LOANS Bridging the external financing gap has been an important factor in borrowing cgovernment's demand for World Bank loans. The demand for IBRD and IDA lending is positively related to an increase in debt service payments and inversely related to a borrowing country's level of reserves. These two variables explain a large part of the variation in IBRD and IDA lending commitments, not only since the Asian crisis but also during tranquil times over the past two decades. Borrowing to service debt during a crisis is consistent with the Bank's role as a lender of last resort as well as with its core development objectives, but such borrowing during tranquil times may conflict with the Bank's long-term objective of reducing poverty. That investment lending commitments are related to debt service payments implies that aid may be more fungible than previously believed. If Bank lending is fungible and there is no guarantee that a particular Bank loan is financing an identified investment project or program, a case could be made for greater use of programmatic lending (with well-defined conditionality) As developing countries become larger and more integrated with volatile international capaital markets, there is also likely to be a greater need for fast-disbursing, contingent program lending facilities from the Bank. 2014-08-21T18:08:45Z 2014-08-21T18:08:45Z 2001-07 http://documents.worldbank.org/curated/en/2001/07/1552027/demand-world-bank-lending http://hdl.handle.net/10986/19573 English en_US Policy Research Working Paper;No. 2652 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 |
ADJUSTMENT LOANS BALANCE OF PAYMENTS BANK LENDING BANK LOANS BANK PRIVATIZATION BORROWING BORROWING COSTS BORROWING COUNTRIES BORROWINGS CAPITAL FLOWS CAPITAL MARKETS COMMITMENT COMMITMENTS CONCESSIONAL AID CONCESSIONAL LENDING CONCESSIONAL TERMS CONDITIONALITY CREDITORS DEBT DEBT CRISES DEBT PROBLEMS DEBT RELIEF DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICE REDUCTION DEBT SERVICE REDUCTION LOANS DEFAULTS DEVELOPMENT ASSISTANCE DEVELOPMENT ECONOMICS DEVELOPMENT FINANCE DISBURSEMENT DISBURSEMENTS ECONOMETRIC ANALYSIS ECONOMIC OUTLOOK ENTERPRISE OWNERSHIP EXPORTS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL STRENGTH FINANCIAL STRUCTURE FINANCING GAP FISCAL YEAR FOREIGN AID FREE TRADE GDP GOVERNMENT GUARANTEE GROWTH MODELS HUMAN CAPITAL INCOME INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERNATIONAL RESERVES INVESTMENT LENDING LENDER LENDER OF LAST RESORT LENDING INSTRUMENTS LENDING TERMS LIQUIDITY LOAN LOW INTEREST RATES MACROECONOMIC POLICY MATURITIES MATURITY MIDDLE INCOME COUNTRIES MULTILATERAL DEVELOPMENT BANKS OUTSTANDING DEBT PRIVATE BANKING PRIVATIZATION REORGANIZATION REPAYMENT SAVINGS TECHNICAL ASSISTANCE TIME SERIES TRADE DEFICIT WORLD BANK LENDING WORLD BANK LENDING INSTRUMENTS WORLD BANK LOANS |
| spellingShingle |
ADJUSTMENT LOANS BALANCE OF PAYMENTS BANK LENDING BANK LOANS BANK PRIVATIZATION BORROWING BORROWING COSTS BORROWING COUNTRIES BORROWINGS CAPITAL FLOWS CAPITAL MARKETS COMMITMENT COMMITMENTS CONCESSIONAL AID CONCESSIONAL LENDING CONCESSIONAL TERMS CONDITIONALITY CREDITORS DEBT DEBT CRISES DEBT PROBLEMS DEBT RELIEF DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICE REDUCTION DEBT SERVICE REDUCTION LOANS DEFAULTS DEVELOPMENT ASSISTANCE DEVELOPMENT ECONOMICS DEVELOPMENT FINANCE DISBURSEMENT DISBURSEMENTS ECONOMETRIC ANALYSIS ECONOMIC OUTLOOK ENTERPRISE OWNERSHIP EXPORTS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL STRENGTH FINANCIAL STRUCTURE FINANCING GAP FISCAL YEAR FOREIGN AID FREE TRADE GDP GOVERNMENT GUARANTEE GROWTH MODELS HUMAN CAPITAL INCOME INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERNATIONAL RESERVES INVESTMENT LENDING LENDER LENDER OF LAST RESORT LENDING INSTRUMENTS LENDING TERMS LIQUIDITY LOAN LOW INTEREST RATES MACROECONOMIC POLICY MATURITIES MATURITY MIDDLE INCOME COUNTRIES MULTILATERAL DEVELOPMENT BANKS OUTSTANDING DEBT PRIVATE BANKING PRIVATIZATION REORGANIZATION REPAYMENT SAVINGS TECHNICAL ASSISTANCE TIME SERIES TRADE DEFICIT WORLD BANK LENDING WORLD BANK LENDING INSTRUMENTS WORLD BANK LOANS Ratha, Dilip Demand for World Bank Lending |
| relation |
Policy Research Working Paper;No. 2652 |
| description |
Bridging the external financing gap has
been an important factor in borrowing cgovernment's
demand for World Bank loans. The demand for IBRD and IDA
lending is positively related to an increase in debt service
payments and inversely related to a borrowing country's
level of reserves. These two variables explain a large part
of the variation in IBRD and IDA lending commitments, not
only since the Asian crisis but also during tranquil times
over the past two decades. Borrowing to service debt during
a crisis is consistent with the Bank's role as a lender
of last resort as well as with its core development
objectives, but such borrowing during tranquil times may
conflict with the Bank's long-term objective of
reducing poverty. That investment lending commitments are
related to debt service payments implies that aid may be
more fungible than previously believed. If Bank lending is
fungible and there is no guarantee that a particular Bank
loan is financing an identified investment project or
program, a case could be made for greater use of
programmatic lending (with well-defined conditionality) As
developing countries become larger and more integrated with
volatile international capaital markets, there is also
likely to be a greater need for fast-disbursing, contingent
program lending facilities from the Bank. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Ratha, Dilip |
| author_facet |
Ratha, Dilip |
| author_sort |
Ratha, Dilip |
| title |
Demand for World Bank Lending |
| title_short |
Demand for World Bank Lending |
| title_full |
Demand for World Bank Lending |
| title_fullStr |
Demand for World Bank Lending |
| title_full_unstemmed |
Demand for World Bank Lending |
| title_sort |
demand for world bank lending |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2001/07/1552027/demand-world-bank-lending http://hdl.handle.net/10986/19573 |
| _version_ |
1764440047738683392 |