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consequences for aggregate cyclical fluctuations. Multilateral Development Banks (MDBs) are an important source of finance for … during fiscal crises. We find that multilateral lending to the sovereign is correlated with government expenditure and this … the World Bank (WB). Finally, we find evidence of synchronization between MDBs and IMF during fiscal crises. …
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developed a focus on 'productive development': 'industrial' policies for open national economies in an integrated world economy … need to be ready to restore and maintain the momentum of productive development once the world economy as a whole emerged …
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In this paper we consider a moral hazard problem between a creditworthy firm which needs funding and a bank. We first study under which conditions the firm does not obtain the loan. We then determine whether and how the intervention of an external financial institution can facilitate the access...
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In this paper we consider a moral hazard problem between a creditworthy firm which needs funding and a bank. We first study under which conditions the firm does not obtain the loan. We then determine whether and how the intervention of an external financial institution can facilitate the access...
Persistent link: https://www.econbiz.de/10011739813
The paper reviews the case for a strong multilateral response to the global crisis in emerging markets (EMs). It … space and liquidity needs. The specific role of Multilateral Development Banks (MDBs) in ensuring the development … crisis has been tamed. -- Global Crisis ; Latin America and Caribbean ; Multilateral Development Banks ; Policy Responses …
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