Some Implications of Multilateral Financing to the Private Sector without Sovereign Guarantee
Direct lending by multilateral development banks to the private sector without sovereign guarantee raises two important issues. First, their presence in the financial markets alters the perception of risk, and that difference in perceived risk carries a market value; the question becomes who appropriates it. Second, by advising on policy matters related to activities that they are or may become interested in financing, or in which they have outstanding balances without sovereign guarantee, multilaterals put themselves in a conflict of interest that may affect their performance in informational and conditionality functions.
|Date of creation:||May 2009|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +39 011 6706060
Fax: +39 011 6706062
Web page: http://www.esomas.unito.it/
More information through EDIRC
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.:
- Christopher Kilby, 2006. "Donor influence in multilateral development banks: The case of the Asian Development Bank," The Review of International Organizations, Springer, vol. 1(2), pages 173-195, June.
- Fleck, Robert K. & Kilby, Christopher & Fleck, Robert K., 2001.
"World Bank Independence: A Model and Statistical Analysis of U.S. Influence,"
Vassar College Department of Economics Working Paper Series
53, Vassar College Department of Economics.
- Robert K. Fleck & Christopher Kilby, 2006. "World Bank Independence: A Model and Statistical Analysis of US Influence," Review of Development Economics, Wiley Blackwell, vol. 10(2), pages 224-240, 05.
- Dani Rodrik, 1995.
"Why is there Multilateral Lending?,"
NBER Working Papers
5160, National Bureau of Economic Research, Inc.
- Patrick Honohan, 1995. "The Public Policy Role of the European Investment Bank within the EU," Journal of Common Market Studies, Wiley Blackwell, vol. 33(3), pages 315-330, 09.
- Thomas Barnebeck Andersen & Henrik Hansen & Thomas Markussen, 2004.
"US Politics and World Bank IDA-Lending,"
05-06, University of Copenhagen. Department of Economics, revised May 2005.
- Jonathan R. Strand, 2003. "Measuring voting power in an international institution: the United States and the inter-American development bank," Economics of Governance, Springer, vol. 4(1), pages 19-36, 04.
- Kilby, Christopher, . "The Political Economy of Conditionality: An Empirical Analysis of World Bank Enforcement," Vassar College Department of Economics Working Paper Series 92, Vassar College Department of Economics.
When requesting a correction, please mention this item's handle: RePEc:icr:wpicer:08-2009. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Simone Pellegrino)
If references are entirely missing, you can add them using this form.