Policies to Enhance Private Lending to Developing Countries

Graham Bird

Chapter 13 in International Financial Policy and Economic Development, 1987, pp 270-285 from Palgrave Macmillan

Abstract: Abstract Leading on from the discussion in the previous chapter, it may be noted that the long term problem is not so much a matter of surviving any particular debt crisis but rather of modifying financial arrangements in such a way that private capital is encouraged to flow to developing countries. Here again, the use of the phrase ‘developing countries’ implies too high a level of aggregation. For many developing countries the prospects for attracting significant amounts of private capital are not good. In the foreseeable future ‘developing countries’ in the context of private flows means a narrow range of better-off LDCs. The poorer developing countries are likely to have to continue to rely on official foreign aid or on some of the other modifications to international financial arrangements discussed in this book. For particular projects in low income countries, however, private capital may still be relevant.

Keywords: Moral Hazard; Nominal Interest Rate; Secondary Market; Private Capital; Bond Issue (search for similar items in EconPapers)
Date: 1987
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DOI: 10.1007/978-1-349-08579-8_13

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