Complementarity between multilateral lending and private flows to developing countries: some empirical results

Dilip Ratha (dratha@worldbank.org)

No 2746, Policy Research Working Paper Series from The World Bank

Abstract: Despite the surge in private capital flows in the 1990s, lending by the multilateral development banks continues to be a significant source of external finance for low-income and lower-middle-income countries. And for middle-income countries, which receive the lion's share of private flows, multilateral lending has played an important stabilizing role during times of credit rationing. Even though multilateral loans may have behaved countercyclically with respect to private flows in the short term, these loans also tended to complement private flows in the medium term by signaling-and often fostering-a better investment environment in the borrowing countries.

Keywords: Banks&Banking Reform; Economic Theory&Research; Financial Intermediation; International Terrorism&Counterterrorism; Payment Systems&Infrastructure; Economic Theory&Research; Poverty Assessment; Economic Development; Macroeconomic Management; Banks&Banking Reform (search for similar items in EconPapers)
Date: 2001-12-31
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (17)

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