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Institutional architecture for financing Pan-Asian infrastructure connectivity
Bhattacharyay, Biswanath; Bhattacharyay, Madhurima - 2017
Asia, particularly its major economies has witnessed slower growth in recent years. To make Asia more economically sustainable and resilient against external shocks to recover from the falling growth, most regional economies need to rebalance their export-oriented (mostly to advanced economies)...
Persistent link: https://www.econbiz.de/10011638303
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On the preferred creditor status of multilateral development banks
Amegashie, J. Atsu - 2023
The loans of the IMF, World Bank, and other multilateral development banks (MDBs) are excluded from debt restructuring …
Persistent link: https://www.econbiz.de/10014306766
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Stigma or cushion? : IMF programs and sovereign creditworthiness
Gehring, Kai; Lang, Valentin - 2018
IMF programs are often considered to carry a "stigma" that triggers adverse market reactions. We show that such a negative IMF effect disappears when accounting for endogenous selection into programs. To proxy for a country's access to financial markets, we use credit ratings and investor...
Persistent link: https://www.econbiz.de/10011931328
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Where Is the carbon premium? : global performance of green and brown stocks
Bauer, Michael D.; Huber, Daniel; Rudebusch, Glenn D.; … - 2023
The relative equity pricing of more climate-friendly ("green") versus less climate-friendly ("brown") companies is an open question in climate finance. Previous research comes to conflicting conclusions, documenting either a "carbon premium" with brown stocks yielding higher returns, or the...
Persistent link: https://www.econbiz.de/10013503379
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Connective financing Chinese infrastructure projects and the diffusion of economic activity in developing countries
Bluhm, Richard; Dreher, Axel; Fuchs, Andreas; Parks, Bradley - 2020
This paper studies the causal effect of transport infrastructure on the spatial concentration of economic activity. Leveraging a new global dataset of geo-located Chinese government-financed projects over the period from 2000 to 2014 together with measures of spatial inequality based on...
Persistent link: https://www.econbiz.de/10012226698
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The impact of Basel III on trade finance : the potential unintended consequences of the leverage ratio
Auboin, Marc; Blengini, Isabella - 2014
Trade finance, particularly in the form of short-term letters of credit has received favourable capital treatment new Basel III rules. However, concerns have been expressed over the potential negative "unintended consequences" of the newly created leverage ratio for trade. This paper offers a...
Persistent link: https://www.econbiz.de/10010404596
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Climate policy and development
Gersbach, Hans; Hummel, Noemi - 2009
We propose a development-compatible refunding system designed to mitigate climate change. Industrial countries pay an initial fee into a global fund. Each country chooses its national carbon tax. Part of the global fund is refunded to developing and industrial countries, in proportion to the...
Persistent link: https://www.econbiz.de/10003888042
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The golden hello and political transitions
Aidt, Toke; Albornoz, Facundo; Gassebner, Martin - 2012
We analyze the influence of IMF and World Bank programs on political regime transitions. We develop an extended version … have taken place. We test this unexplored implication of the theory empirically. We find in a world sample from 1970 to … transitions ; democracy ; autocracy ; IMF ; World Bank …
Persistent link: https://www.econbiz.de/10009630635
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The costs of favoritism : is politically-driven aid less effective?
Dreher, Axel; Klasen, Stephan; Vreeland, James Raymond; … - 2010
World Bank projects and generally find that projects that are potentially politically motivated - such as those granted to … governments holding a non-permanent seat on the United Nations Security Council or an Executive Directorship at the World Bank … Council members with higher short-term debt, however, a negative quality rating is more likely. So we find evidence that World …
Persistent link: https://www.econbiz.de/10003948233
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On the preferences of CoCo bond buyers and sellers : a logistic regression analysis
Caporale, Guglielmo Maria; Kang, Woo-Young - 2019
This paper estimates the preference scores of CoCo bond buyers and sellers by running logistic regressions taking into account both bond and issuing bank's characteristics, and also considers the role of country−specific CoCo bond market competitiveness. Buyers are found to be characterised by...
Persistent link: https://www.econbiz.de/10011986130