Avellán, Leopoldo; Galindo Andrade, Arturo José; … - 2018
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. …