Artículo
Exchange rate and balance of payment crisis risks in the global development finance architecture
Fecha de publicación:
07/2022
Editorial:
Elsevier
Revista:
Journal of International Financial Markets, Institutions and Money
ISSN:
1042-4431
Idioma:
Inglés
Tipo de recurso:
Artículo publicado
Clasificación temática:
Resumen
We analyze exchange rate and balance of payment crisis constraints when multilateral development banks (MDBs) lend, in hard currency, to national development banks (NDBs), for NDBs to onlend to investment projects. Investment projects may be “export-enhancing” (EXIPs), which generate hard currency, or “domestic-oriented” (DOIPs), which do not generate hard currency. To increase the proportion of onlending to DOIPs, MDBs should increase their refinancing to NDBs. Furthermore, MDBs have to reduce the interest rate charged on NDBs. In addition, high return EXIPs need to be financed, and more locally-produced supplies, in contrast with imported supplies, should be fostered.
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Articulos(CCT - CORDOBA)
Articulos de CTRO.CIENTIFICO TECNOL.CONICET - CORDOBA
Articulos de CTRO.CIENTIFICO TECNOL.CONICET - CORDOBA
Citación
Schclarek Curutchet, Alfredo; Xu, Jiajun; Exchange rate and balance of payment crisis risks in the global development finance architecture; Elsevier; Journal of International Financial Markets, Institutions and Money; 79; 7-2022; 1-19
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