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Diaspora Bonds: Tapping The Diaspora During Difficult Times

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Author Info

  • SUHAS L. KETKAR

    (Vanderbilt University, USA)

  • DILIP RATHA

    ()
    (The World Bank, 1818 H Street NW, Washington, DC, USA)

Abstract

India and Israel have raised over US$35 billion by tapping into the wealth of their diaspora communities. These diaspora bonds represent a stable and cheap source of external finance, often when countries lost access to international capital markets. For diaspora investors, these bonds offer the opportunity to help their country of origin while also providing an investment opportunity. The potential for diaspora bonds is significant for many countries with large diasporas abroad. However, diaspora bond issuance from countries with weak governance and high sovereign risk may require support for institutional capacity building and credit enhancement from multilateral or bilateral agencies. Haiti, for instance, could raise several hundred million dollars by issuing diaspora bonds provided a guarantee structure is created to build trust in the country's public institutions.

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Bibliographic Info

Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal Journal of International Commerce, Economics and Policy.

Volume (Year): 01 (2010)
Issue (Month): 02 ()
Pages: 251-263

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Handle: RePEc:wsi:jicepx:v:01:y:2010:i:02:p:251-263

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Keywords: Capital flows; diaspora bonds; emerging markets; G15; O10;

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Cited by:
  1. Rehman Sobhan, 2013. "Innovation and Additionalty for Development Finance: Looking at Asia," CPD Working Paper, Centre for Policy Dialogue (CPD) 102, Centre for Policy Dialogue (CPD).
  2. Essers, Dennis & Cassimon, Danny, 2013. "And what about Africa's original sins?," IOB Analyses & Policy Briefs, Universiteit Antwerpen, Institute of Development Policy and Management (IOB) 1, Universiteit Antwerpen, Institute of Development Policy and Management (IOB).
  3. Möhlmann, Axel, 2013. "Investor home bias and sentiment about the country benefiting from the tax revenue," Journal of Economic Psychology, Elsevier, Elsevier, vol. 35(C), pages 31-46.
  4. Ratha, Dilip & Mohapatra, Sanket & Scheja, Elina, 2011. "Impact of migration on economic and social development : a review of evidence and emerging issues," Policy Research Working Paper Series 5558, The World Bank.
  5. Essers, Dennis & Cassimon, Danny, 2012. "Washing away original sin: vulnerability to crisis and the role of local currency bonds in Sub-Saharan Africa," IOB Working Papers, Universiteit Antwerpen, Institute of Development Policy and Management (IOB) 2012.12, Universiteit Antwerpen, Institute of Development Policy and Management (IOB).
  6. Vikhrov Dmytro, 2013. "Welfare Effects of Labor Migration," CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economic Institute, Prague wp491, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
  7. Beck, T.H.L. & Munzele Maimbo, S. & Faye, I. & Triki, T., 2011. "Financing Africa: Through the crisis and beyond," Open Access publications from Tilburg University, Tilburg University urn:nbn:nl:ui:12-4758568, Tilburg University.

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