Dynamics of Institutional Proliferation in Financing for Development: The birth of the AIIB

Mehmet Hecan ()
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Mehmet Hecan: Boston University

Development, 2016, vol. 59, issue 1, 158-166

Abstract: Abstract Using the case of the newly launched Asian Infrastructure and Investment Bank (AIIB), this article aims to uncover possible dynamics driving institutional proliferation in the global development landscape. These dynamics include the Global South’s growing desire to participate in international financial management, the existing finance gap requiring a multilateral solution in the face of market failures, the demand for more effective development institutions, the need to deal with massive infrastructural challenges, and supplier countries’ potential pursuit of their national interests over development institutions. The article also explores policy implications of these dynamics in terms of the global development regime.

Keywords: International development; Development finance; Multilateral Development Banks (MDBs); Asian Infrastructure and Investment Bank (AIIB); BRICS; Global South; Bretton Woods Institutions (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1057/s41301-017-0072-2

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