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The analysis of emerging policy issues in development finance

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Author Info
Goopu, Sudarshan
Abstract

The author makes a case for improving capacity in developing countries to monitor and analyze data on private capital flows, especially portfolio investment flows (through both debt and non-debt instruments). He surveys recent economic literature and identifies unanswered international finance-related policy questions being grappled with in developing countries. From this he deduces the tremendous need for better data to analyze important economic issues (with a focus on data related to external debt and financial flows). The author also provides an overview of recent trends in financial flows to developing countries, highlighting the surge of private capital flows to a few such countries in the 1990s. He traces some of the major policy issues dealt with in the 1980s and describes the analysis and discussions behind policy decisions. He concludes by suggesting some policy issues that are important today in development finance - and which research agenda might be fruitful for examining changing debt structure and financial flows.

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Paper provided by The World Bank in its series Policy Research Working Paper Series with number 1589.

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Date of creation: 30 Apr 1996
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Handle: RePEc:wbk:wbrwps:1589

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Keywords: Banks&Banking Reform; International Terrorism&Counterterrorism; Economic Theory&Research; Payment Systems&Infrastructure; Financial Intermediation; Economic Theory&Research; Banks&Banking Reform; Financial Intermediation; Macroeconomic Management; Environmental Economics&Policies;

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Eaton, Jonathan, 1993. "Sovereign Debt: A Primer," World Bank Economic Review, Oxford University Press, vol. 7(2), pages 137-72, May.
    Other versions:
  2. Jeffrey Sachs & Daniel Cohen, 1982. "LDC Borrowing with Default Risk," NBER Working Papers 0925, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  3. Hernandez, Leonardo & Rudolph, Heinz, 1995. "Sustainability of private capital flows to developing countries : Is a generalized reversal likely?," Policy Research Working Paper Series 1518, The World Bank. [Downloadable!]
  4. Froot, Kenneth A, 1989. "Buybacks, Exit Bonds, and the Optimality of Debt and Liquidity Relief," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 30(1), pages 49-70, February. [Downloadable!] (restricted)
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  5. Bulow, Jeremy & Rogoff, Kenneth, 1989. "Sovereign Debt: Is to Forgive to Forget?," American Economic Review, American Economic Association, vol. 79(1), pages 43-50, March. [Downloadable!] (restricted)
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  6. Cohen, Daniel, 1990. "Debt Relief: Implications of Secondary Market Discounts and Debt Overhangs," World Bank Economic Review, Oxford University Press, vol. 4(1), pages 43-53, January.
  7. Paul R. Krugman, 1989. "Market-Based Debt-Reduction Schemes," NBER Working Papers 2587, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  8. Selowsky, Marcelo & Van Der Tak, Herman G., 1986. "The debt problem and growth," World Development, Elsevier, vol. 14(9), pages 1107-1124, September. [Downloadable!] (restricted)
  9. Claessens, Stijn, 1993. "Alternative Forms of External Finance: A Survey," World Bank Research Observer, Oxford University Press, vol. 8(1), pages 91-117, January.
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  10. Fernandez-Arias, Eduardo & DEC, 1994. "The new wave of private capital inflows : push or pull?," Policy Research Working Paper Series 1312, The World Bank. [Downloadable!]
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  11. Stijn Claessens & Moon-Whoan Rhee, 1994. "The Effect of Barriers to Equity Investment in Developing Countries," NBER Chapters, in: The Internationalization of Equity Markets, pages 231-275 National Bureau of Economic Research, Inc. [Downloadable!]
  12. Fernandez-Arias, Eduardo & Montiel, Peter J., 1995. "The surge in capital inflows to developing countries : prospects and policy response," Policy Research Working Paper Series 1473, The World Bank. [Downloadable!]
  13. Michael P. Dooley & Eduardo Fernandez-Arias & Kenneth M. Kletzer, 1994. "Recent Private Capital Inflows to Developing Countries: Is the Debt Crisis History?," NBER Working Papers 4792, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  14. Claessens, S. & Gooptu, S., 1993. "Portfolio Investment in Developing Countries," World Bank - Discussion Papers 228, World Bank.
  15. Goldstein, Morris, 1995. "Coping with too much of a good thing : policy responses for large capital inflows in developing countries," Policy Research Working Paper Series 1507, The World Bank. [Downloadable!]
  16. Chuhan, Punam & Claessens,Constantijn A. & Mamingi, Nlandu, 1993. "Equity and bond flows to Asia and Latin America : the role of global and country factors," Policy Research Working Paper Series 1160, The World Bank. [Downloadable!]
  17. Claessens, Stijn, 1995. "The Emergence of Equity Investment in Developing Countries: Overview," World Bank Economic Review, Oxford University Press, vol. 9(1), pages 1-17, January.
  18. Jeffrey Sachs, 1983. "Theoretical Issues in International Borrowing," NBER Working Papers 1189, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  19. Jeremy Bulow & Kenneth Rogoff, 1988. "The Buyback Boondoggle," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 19(1988-2), pages 675-704. [Downloadable!]
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