Toward An Economic Theory of Multilateral Development Banking

Gerd Schwartz

No 1993/040, IMF Working Papers from International Monetary Fund

Abstract: This paper addresses an apparent lack of economic theory in the analysis of multilateral development bank (MDB) behavior. A simple comparative statics model that is adapted from the credit union literature is used to predict potential areas of conflict, agreement, and indifference between MDB member countries, analyze lending policies against the background of distributional conflicts, and show how various institutional reforms may improve efficiency and overall member country benefits.

Keywords: WP; amount of money; capital share; MDB management; optimization problem; MDB lending; decision process; policy parameter; model views MDBs; MDB membership; capital market debt; MDB capital share; MDB member country; Multilateral development institutions; Loans; Securities markets; Capital markets; Credit bureaus (search for similar items in EconPapers)
Pages: 26
Date: 1993-05-01
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:1993/040

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