IDEAS home Printed from https://ideas.repec.org/a/bla/rdevec/v27y2023i3p1957-1972.html
   My bibliography  Save this article

The New Development Bank and the structure of the multilateral development financial system

Author

Listed:
  • Fang Ye

Abstract

This paper investigates the influence of the New Development Bank (NDB) on the structure of the multilateral development financial system, using social network analysis. The findings show that some emerging economies have been significantly affected by establishment of the NDB, whereas developed countries still dominate. Although the influence of BRICS countries has increased, they still play a relatively weak role. Further analyses examine the influence of the NDB's expansion; developed countries and most BRICS countries are not affected, and the rankings of some entry countries has increased whereas that of non‐entry countries with nondominant power has decreased.

Suggested Citation

  • Fang Ye, 2023. "The New Development Bank and the structure of the multilateral development financial system," Review of Development Economics, Wiley Blackwell, vol. 27(3), pages 1957-1972, August.
    • Handle: RePEc:bla:rdevec:v:27:y:2023:i:3:p:1957-1972
    DOI: 10.1111/rode.12995
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/rode.12995
    Download Restriction: no
    File URL: https://libkey.io/10.1111/rode.12995?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Diebold, Francis X. & Yilmaz, Kamil, 2012. "Better to give than to receive: Predictive directional measurement of volatility spillovers," International Journal of Forecasting, Elsevier, vol. 28(1), pages 57-66.
    2. Felix I. Lessambo, 2021. "International Finance," Springer Books, Springer, edition 1, number 978-3-030-69232-2, November.
    3. Felix I. Lessambo, 2021. "International Institutions of International Finance," Springer Books, in: International Finance, edition 1, chapter 0, pages 7-27, Springer.
    4. Koop, Gary & Korobilis, Dimitris, 2016. "Model uncertainty in Panel Vector Autoregressive models," European Economic Review, Elsevier, vol. 81(C), pages 115-131.
    5. Felix I. Lessambo, 2021. "International Finance," Springer Books, in: International Finance, edition 1, chapter 0, pages 1-5, Springer.
    6. Helmut Reisen, 2015. "Will the AIIB and the NDB Help Reform Multilateral Development Banking?," Global Policy, London School of Economics and Political Science, vol. 6(3), pages 297-304, September.
    7. Deepak Nayyar, 2016. "BRICS, developing countries and global governance," Third World Quarterly, Taylor & Francis Journals, vol. 37(4), pages 575-591, April.
    8. Christopher Kilby, 2006. "Donor influence in multilateral development banks: The case of the Asian Development Bank," The Review of International Organizations, Springer, vol. 1(2), pages 173-195, June.
    9. Richard Clark & Lindsay R. Dolan, 2021. "Pleasing the Principal: U.S. Influence in World Bank Policymaking," American Journal of Political Science, John Wiley & Sons, vol. 65(1), pages 36-51, January.
    10. ., 2021. "International trade and finance," Chapters, in: The Political Economy of Iraq, chapter 13, pages 256-272, Edward Elgar Publishing.
    11. Hongying Wang, 2017. "New Multilateral Development Banks: Opportunities and Challenges for Global Governance," Global Policy, London School of Economics and Political Science, vol. 8(1), pages 113-118, February.
    12. Ben Cormier & Mark S. Manger, 2022. "Power, ideas, and World Bank conditionality," The Review of International Organizations, Springer, vol. 17(3), pages 397-425, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Andrew F. Cooper, 2017. "The BRICS’ New Development Bank: Shifting from Material Leverage to Innovative Capacity," Global Policy, London School of Economics and Political Science, vol. 8(3), pages 275-284, September.
    2. Kaya, Ayse & Kilby, Christopher & Kay, Jonathan, 2021. "Asian Infrastructure Investment Bank as an instrument for Chinese influence? Supplementary versus remedial multilateralism," World Development, Elsevier, vol. 145(C).
    3. Hang Luo & Lize Yang & Kourosh Houshmand, 2021. "Power Structure Dynamics in Growing Multilateral Development Banks: The Case of the Asian Infrastructure Investment Bank," Global Policy, London School of Economics and Political Science, vol. 12(1), pages 24-39, February.
    4. Gu, Jing & Renwick, Neil & Xue, Lan, 2018. "The BRICS and Africa's search for green growth, clean energy and sustainable development," Energy Policy, Elsevier, vol. 120(C), pages 675-683.
    5. Hang Luo & Lize Yang, 2021. "Equality and Equity in Emerging Multilateral Financial Institutions: The Case of the BRICS Institutions," Global Policy, London School of Economics and Political Science, vol. 12(4), pages 482-508, September.
    6. Hongying Wang, 2019. "The New Development Bank and the Asian Infrastructure Investment Bank: China's Ambiguous Approach to Global Financial Governance," Development and Change, International Institute of Social Studies, vol. 50(1), pages 221-244, January.
    7. Hai Yang, 2023. "Rhetorical coercion, institutional legitimacy and the creation of the Asian Infrastructure Investment Bank," Global Policy, London School of Economics and Political Science, vol. 14(5), pages 730-741, November.
    8. Salvatore Babones & John H.S. Åberg & Obert Hodzi, 2020. "China's Role in Global Development Finance: China Challenge or Business as Usual?," Global Policy, London School of Economics and Political Science, vol. 11(3), pages 326-335, May.
    9. Qiao, Sen & Guo, Zi Xin & Tao, Zhang & Ren, Zheng Yu, 2023. "Analyzing the network structure of risk transmission among renewable, non-renewable energy and carbon markets," Renewable Energy, Elsevier, vol. 209(C), pages 206-217.
    10. Miklesh Yadav & Nandita Mishra & Shruti Ashok, 2023. "Dynamic connectedness of green bond with financial markets of European countries under OECD economies," Economic Change and Restructuring, Springer, vol. 56(1), pages 609-631, February.
    11. Hasan, Mudassar & Arif, Muhammad & Naeem, Muhammad Abubakr & Ngo, Quang-Thanh & Taghizadeh–Hesary, Farhad, 2021. "Time-frequency connectedness between Asian electricity sectors," Economic Analysis and Policy, Elsevier, vol. 69(C), pages 208-224.
    12. Libo Yin & Liyan Han, 2014. "Spillovers of macroeconomic uncertainty among major economies," Applied Economics Letters, Taylor & Francis Journals, vol. 21(13), pages 938-944, September.
    13. Shi, Huai-Long & Zhou, Wei-Xing, 2022. "Factor volatility spillover and its implications on factor premia," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 80(C).
    14. Dutta, Anupam & Bouri, Elie & Rothovius, Timo & Uddin, Gazi Salah, 2023. "Climate risk and green investments: New evidence," Energy, Elsevier, vol. 265(C).
    15. Tihana Škrinjarić, 2019. "Time Varying Spillovers between the Online Search Volume and Stock Returns: Case of CESEE Markets," IJFS, MDPI, vol. 7(4), pages 1-30, October.
    16. Claeys, Peter & Vašíček, Bořek, 2014. "Measuring bilateral spillover and testing contagion on sovereign bond markets in Europe," Journal of Banking & Finance, Elsevier, vol. 46(C), pages 151-165.
    17. Yingce Yang & Junjie Guo & Ruihong He, 2023. "The Asymmetric Impact of the Oil Price and Disaggregate Shocks on Economic Policy Uncertainty: Evidence From China," SAGE Open, , vol. 13(2), pages 21582440231, June.
    18. Juncal Cunado & David Gabauer & Rangan Gupta, 2021. "Realized Volatility Spillovers between Energy and Metal Markets: A Time-Varying Connectedness Approach," Working Papers 202180, University of Pretoria, Department of Economics.
    19. Gary Koop & Dimitris Korobilis, 2019. "Forecasting with High‐Dimensional Panel VARs," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 81(5), pages 937-959, October.
    20. Yousaf, Imran & Youssef, Manel & Goodell, John W., 2022. "Quantile connectedness between sentiment and financial markets: Evidence from the S&P 500 twitter sentiment index," International Review of Financial Analysis, Elsevier, vol. 83(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:rdevec:v:27:y:2023:i:3:p:1957-1972. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=1363-6669 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.