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Die Entwicklungsbanken der Schwellenländer und die multilaterale Finanzarchitektur

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  • Helmut Reisen

Abstract

What will be the future impact of the New Development Bank (NDB) and the Asian Infrastructure Investment Bank (AIIB) on multilateral lending shares? Will these new multilateral banks, which were created in 2014 outside the established Bretton Woods system, help the BRICS countries to rebalance multilateral development financing away from Western dominance? The pressure for the BRICS to “exit” from the established international financial institutions rises with the past, present and expected failure for “voice” reform at these institutions. This paper quantifies excess demand for multilateral soft loans and the potential lending capacities of the NDB and AIIB to assess how much relative business — hence political influence — the existing institutions might lose in favour of the new competitors. It is estimated that the NDB and AIIB combined will attract sufficient co-financing to rival the established multilateral development banks in terms of annual lending. The paper concludes that the existing Bretton Woods system is likely to lose market share and preferred creditor status. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2015

Suggested Citation

  • Helmut Reisen, 2015. "Die Entwicklungsbanken der Schwellenländer und die multilaterale Finanzarchitektur," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 95(4), pages 274-279, April.
    • Handle: RePEc:spr:wirtsc:v:95:y:2015:i:4:p:274-279
    DOI: 10.1007/s10273-015-1818-7
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    Keywords

    F02; F35; F53;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F35 - International Economics - - International Finance - - - Foreign Aid
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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