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

2018-12-07 Business & Economics
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Release : 2018-12-07
Genre : Business & Economics
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Book Rating : 342/5 ( reviews)

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Book Synopsis Borrowing Costs and The Role of Multilateral Development Banks: Evidence from Cross-Border Syndicated Bank Lending by : Daniel Gurara

Download or read book Borrowing Costs and The Role of Multilateral Development Banks: Evidence from Cross-Border Syndicated Bank Lending written by Daniel Gurara. This book was released on 2018-12-07. Available in PDF, EPUB and Kindle. Book excerpt: 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

2019-02-15 Business & Economics
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Release : 2019-02-15
Genre : Business & Economics
Kind : eBook
Book Rating : 864/5 ( reviews)

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Book Synopsis Mobilization Effects of Multilateral Development Banks by : Chiara Broccolini

Download or read book Mobilization Effects of Multilateral Development Banks written by Chiara Broccolini. This book was released on 2019-02-15. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Multilateral Development Banks

2018-06-15 Business & Economics
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Release : 2018-06-15
Genre : Business & Economics
Kind : eBook
Book Rating : 24X/5 ( reviews)

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Book Synopsis Multilateral Development Banks by : Ihsan Ugur Delikanli

Download or read book Multilateral Development Banks written by Ihsan Ugur Delikanli. This book was released on 2018-06-15. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive overview and insight of virtually all multilateral institutions involved in lending for international socio-economic development. The analysis covers twenty-five MDBs globally by classifying them in three groups based on geographical lending outreach. Unlike similar books and articles, which treat MDBs as banks, this book offers a novel perspective by addressing the specifics of multilateral lending institutions, revealing multiple aspects of their operations, going beyond the “bank” concept towards “knowledge bank,” “change agent,” and even “benchmark setter.” The book reflects on the key role of most MDBs in inspiring and advancing sustainable economic development through transfer of knowledge and funding towards addressing multiple global challenges for the benefit of practitioners, consultants, government officials, borrowers, and researchers interested in MDBs.

Toward An Economic Theory of Multilateral Development Banking

1993-05-01 Business & Economics
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Release : 1993-05-01
Genre : Business & Economics
Kind : eBook
Book Rating : 898/5 ( reviews)

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Book Synopsis Toward An Economic Theory of Multilateral Development Banking by : Mr.Gerd Schwartz

Download or read book Toward An Economic Theory of Multilateral Development Banking written by Mr.Gerd Schwartz. This book was released on 1993-05-01. Available in PDF, EPUB and Kindle. Book excerpt: This paper addresses an apparent lack of economic theory in the analysis of multilateral development bank (MDB) behavior. A simple comparative statics model that is adapted from the credit union literature is used to predict potential areas of conflict, agreement, and indifference between MDB member countries, analyze lending policies against the background of distributional conflicts, and show how various institutional reforms may improve efficiency and overall member country benefits.

The Politics of Loan Pricing at Multilateral Development Banks

2013
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Release : 2013
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Book Synopsis The Politics of Loan Pricing at Multilateral Development Banks by : Christopher Strong Humphrey

Download or read book The Politics of Loan Pricing at Multilateral Development Banks written by Christopher Strong Humphrey. This book was released on 2013. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the political factors that determine the price of loans offered to borrowing countries by multilateral development banks (MDBs). The reasons why MDBs set their prices at a given level and why those prices might vary from one MDB to another has received scant attention in academia, even though inexpensive loan costs are the primary reason countries borrow from MDBs. The paper explores these issues in three MDBs, each with a different composition of shareholding countries - the World Bank (controlled by wealthy non-borrowing countries), the Inter-American Development Bank (more evenly balanced between non-borrowing and borrowing countries) and the Andean Development Corporation (controlled by borrowing countries). Evidence indicates that MDB shareholder composition has a major impact on loan prices, in sometimes unexpected ways. While the backing of wealthy countries allows the World Bank and IADB to raise resources on capital markets more cheaply than the CAF, the interests of those same non-borrowing countries in using MDB net income makes loan costs significantly higher at those MDBs - especially the World Bank - than they would be otherwise. These results are not only of interest empirically but also theoretically, as they provide support to an institutionalist approach in focusing on the importance of shareholding and voting rules - and not just a few powerful countries - to better understand MDB activities.

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