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Multilateral development banks – Strategic actors in the new economy?

Author

Listed:
  • Dan Costin Nitescu

    (Bucharest University of Economic Studies)

  • Valentin Murgu

    (Bucharest University of Economic Studies)

  • Valentin Murgu

    (“Dunarea de Jos” University of Galati)

Abstract

The paper addresses the role of multilateral development banks in the new economic paradigm, built in the context of multiple crises with global impact. Multilateral development banks, in their capacity as promoters of governments’ policies are “invited/expected” to play a key role in the new geopolitical architecture, holding a competitive advantage in the provision of finance, which is linked to the design and implementation of structural reforms and programs of strengthening institutions controlled by governments. The paper aims to represent a signal regarding the strategic component and the synergies that multilateral development banks can determine. It highlights the tools that multilateral development banks have for selecting, monitoring and supporting programs and projects with regional and global impact. The paper describes the state of knowledge and reviews the specialised literature in the field of multilateral development banks, describes intervention channels and financing products of multilateral development banks, and discusses their impact on a European and regional level. The concluding remarks address the strategic role of multilateral development banks, their contribution to sustainable development goals and outline directions for future research.

Suggested Citation

  • Dan Costin Nitescu & Valentin Murgu & Valentin Murgu, 2023. "Multilateral development banks – Strategic actors in the new economy?," E&M Economics and Management, Technical University of Liberec, Faculty of Economics, vol. 26(3), pages 145-157, September.
    • Handle: RePEc:bbl:journl:v:26:y:2023:i:3:p:145-157
    DOI: 10.15240/tul/001/2023-3-009
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    References listed on IDEAS

    as
    1. Xianbai Ji, 2017. "Promoting regional development bank complementarity: challenges to Asia and lessons from Europe," Asia Europe Journal, Springer, vol. 15(3), pages 261-281, September.
    2. Ariel BenYishay & Rebecca Tunstall, 2011. "Impact evaluation of infrastructure investments: the experience of the Millennium Challenge Corporation," Journal of Development Effectiveness, Taylor & Francis Journals, vol. 3(1), pages 103-130.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Globalisation; regionalisation; multilateral development banks; green/sustainable/ESG financing; European Union;
    All these keywords.

    JEL classification:

    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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