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A Brics Development Bank: A Dream Coming True?

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  • Stephany Griffith-Jones

Abstract

BRICS leaders have approved creating a new development bank which would fund long-term investment in infrastructure and more sustainable development. This paper documents the scale of unmet needs in these areas in developing and emerging economies. It then estimates the likely level of loans that this new development bank could make, under different assumptions. It highlights the complementary role that such a bank would play with existing development banks and shows its importance for enhancing the influence of BRICS and other developing countries in the international development architecture.

Suggested Citation

  • Stephany Griffith-Jones, 2014. "A Brics Development Bank: A Dream Coming True?," UNCTAD Discussion Papers 215, United Nations Conference on Trade and Development.
    • Handle: RePEc:unc:dispap:215
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    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. VI BRICS Summit: Will the BRICS Bank Help Reform Global Financial Architecture?
      by Shifting Wealth in ShiftingWealth on 2014-07-12 17:19:00

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    Cited by:

    1. Victor Manuel Isidro Luna, 2019. "Development banking, state of confidence and sustainable growth," Working Papers PKWP1917, Post Keynesian Economics Society (PKES).
    2. Larionova, Marina (Ларионова, Марина) & Shelepov, Andrey (Шелепов, Андрей) & Sakharov, Andrey (Сахаров, Андрей) & Kolmar, Olga (Колмар, Ольга) & Safonkina, Elizaveta (Сафонкина, Елизавета) & Popova, I, 2018. "Comparative Analysis of the Formation of the New Development Bank (Nbb) and the Asian Bank for Infrastructure Investments (Abia) [Сравнительный Анализ Становления Нового Банка Развития (Нбр) И Азиа," Working Papers 041814, Russian Presidential Academy of National Economy and Public Administration.
    3. Andrew F. Cooper, 2017. "The BRICS’ New Development Bank: Shifting from Material Leverage to Innovative Capacity," Global Policy, London School of Economics and Political Science, vol. 8(3), pages 275-284, September.
    4. Simplice Asongu, 2015. "Determinants of Growth in Fast Developing Countries: Evidence from Bundling and Unbundling Institutions," Working Papers of the African Governance and Development Institute. 15/010, African Governance and Development Institute..
    5. Simplice A. Asongu & Paul N. Acha-Anyi, 2020. "A survey on the Washington Consensus and the Beijing Model: reconciling development perspectives," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 67(2), pages 111-129, June.
    6. Elisa Van Waeyenberge & Hannah Bargawi, 2016. "Financing Economic Development. Theoretical Debates and Empirical Trends," Working papers wpaper139, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    7. Pablo García, 2015. "The New BRICS Institutions as Contestable Multilateralism," Economic Policy Papers Central Bank of Chile 55, Central Bank of Chile.
    8. ASONGU, Simplice & ODHIAMBO, Nicholas, 2018. "Drivers Of Growth In Fast Emerging Economies: A Dynamic Instrumental Quantile Approach To Real Output And Its Rates Of Growth In Brics And Mint Countries, 2001-2011," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 18(1), pages 5-22.
    9. Carlos M. Correa, 2015. "Intellectual property: How much room is left for industrial policy?," UNCTAD Discussion Papers 223, United Nations Conference on Trade and Development.
    10. Simplice Asongu, 2015. "Drivers of Growth in Fast Emerging Economies: A Dynamic Instrumental Quantile Approach," Working Papers of the African Governance and Development Institute. 15/009, African Governance and Development Institute..
    11. Samargandi, Nahla & Kutan, Ali M., 2016. "Private credit spillovers and economic growth: Evidence from BRICS countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 44(C), pages 56-84.
    12. Andreas Antoniades, 2017. "The New Resilience of Emerging and Developing Countries: Systemic Interlocking, Currency Swaps and Geoeconomics," Global Policy, London School of Economics and Political Science, vol. 8(2), pages 170-180, May.
    13. Gianni Vaggi, 2018. "Development Finance in the age of Financial Mercantilism," DEM Working Papers Series 157, University of Pavia, Department of Economics and Management.
    14. Griffith-Jones, Stephany & Leistner, Samuel, 2018. "Mobilising capital for sustainable infrastructure: the cases of AIIB and NDB," IDOS Discussion Papers 18/2018, German Institute of Development and Sustainability (IDOS).
    15. Andrew Cornford, 2014. "Macroprudential Regulation: Potential Implications For Rules For Cross-Border Banking," UNCTAD Discussion Papers 216, United Nations Conference on Trade and Development.
    16. Ulrich Hoffmann, 2015. "Can green growth really work and what are the true (socio-)economics of Climate Change?," UNCTAD Discussion Papers 222, United Nations Conference on Trade and Development.
    17. Margot Schüller & Jan Peter Wogart, 2017. "The emergence of post-crisis regional financial institutions in Asia—with a little help from Europe," Asia Europe Journal, Springer, vol. 15(4), pages 483-501, December.
    18. Adebayo Augustine Kutu & Harold Ngalawa, 2016. "Monetary Policy Shocks And Industrial Output In Brics Countries," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 66(3), pages 3-24, July-Sept.
    19. Griffith-Jones, Stephany, 2015. "Financing global Development: The BRICS New Development Bank," Briefing Papers 13/2015, German Institute of Development and Sustainability (IDOS).
    20. Sidorova E.A., 2016. "The integration and investment potential of BRICS," World of economics and management / Vestnik NSU. Series: Social and Economics Sciences, Socionet, vol. 16(2), pages 111-122.

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