How to Finance Economic Development in the New Millennium: German Capital Exports to Asia and the Debate on the Effectiveness of Official Development Financing
AbstractGermany's role in financing economic development in Asia on a sustainable basis leaves much to be desired. Direct investors are still underrepresented in the region. Commercial banks have fueled speculative bubbles. Official development financing does not appear to be based on efficiency-related criteria. As concerns development financing in the new millennium, the challenge for relatively advanced emerging market economies is mainly to restructure private capital inflows in order to soften boom and bust cycles. Official development financing needs major reforms in order to promote economic growth, alleviate poverty and support good governance in low-income developing countries.
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Bibliographic InfoPaper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 981.
Length: 45 pages
Date of creation: May 2000
Date of revision:
official development assistance; private capital flows;
Find related papers by JEL classification:
- F30 - International Economics - - International Finance - - - General
- F35 - International Economics - - International Finance - - - Foreign Aid
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- Kanbur, Ravi & Sandler, Todd & Morrison, Kevin, 1999. "The Future of Development Assistance: Common Pools and International Public Goods," Staff General Research Papers, Iowa State University, Department of Economics 1629, Iowa State University, Department of Economics.
- Peter Nunnenkamp & Peter Wahl & Thomas Wollenzien, 2001. "Was bringt das Entschuldungsprogramm für hochverschuldete arme Länder?," Ifo Schnelldienst, Ifo Institute for Economic Research at the University of Munich, vol. 54(01), pages 03-14, 03.
- Nunnenkamp, Peter, 2002. "IWF und Weltbank: trotz aller Mängel weiterhin gebraucht?," Kiel Discussion Papers 388, Kiel Institute for the World Economy (IfW).
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