The Determinants of Multilateral Development Banks’ Participation in Infrastructure Projects

Basílio, Maria

doi:10.1177/0974930614564991

Cited by 16 publications

(26 citation statements)

References 57 publications

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“…political, legal and economic) at a national level as individual determinants of PPPs (c.f. Basılio, 2010;Albalate et al, 2012;Hammami et al, 2006;Ismail, 2013) and the critical success factors for the implementation of PPPs in infrastructure projects (c.f. Ogunsanmi, 2014;Zagozdzon, 2013).…”

Section: Introductionmentioning

confidence: 99%

The impact of socio-political and economic environments on private sector participation in energy infrastructure delivery in Ghana

Owusu‐Manu

Edwards

Kutin-Mensah

et al. 2017

JEDT

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Purpose: Investment in power and electricity generation to replace aging infrastructure with new represents a major challenge for developing countries. This paper therefore seeks to examine infrastructure projects' characteristics and how socio-political and economic investment environments interplay to influence the degree of private sector participation (PPP) in infrastructure delivery in Ghana.

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Section: Introductionmentioning

confidence: 99%

The impact of socio-political and economic environments on private sector participation in energy infrastructure delivery in Ghana

Owusu‐Manu

Edwards

Kutin-Mensah

et al. 2017

JEDT

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“…Those empirical studies that do exist tend to concentrate on the determinants of MDB lending patterns (e.g., Rodrik 1996;Gutner 2002;Prada 2012;Basílio 2014). Scholars have also analyzed MDB internal politics, compared their governance structures, and studied the formulation of internal coalitions (respectively: Krasner 1981Krasner , 1985Woods 1999;Lyne et al 2009).…”

Section: Studies Of Regional Mdbsmentioning

confidence: 99%

The proliferation of multilateral development banks

Kellerman

2018

Rev Int Organ

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Since 1945 the number of multilateral development banks (MDBs) has increased at a linear rate, with approximately one new MDB created every three years. The proliferation of MDBs has resulted in an inefficient duplication of international institutions with overlapping functions. Further, this trend contradicts our existing understanding of why states create countervailing international organizations. This article proposes a novel, two-step theoretical model of institutional change and creation in an attempt to explain this empirical puzzle. Utilizing the complementarities of rational-choice and historical institutionalism, the model demonstrates that the rational actions of states in the past can lead to seemingly irrational institutional change in the future. This process results in the repetitive creation of countervailing MDBs designed to solve the same functional problems. To evaluate the model's hypotheses, three case studies are undertaken, employing archival material, internal documents, and 48 interviews conducted by the author in London, Washington, D.C. and Manila, Philippines. The empirical results are of direct interest to policy-makers currently negotiating the structure of new MDBs in Asia and Latin America.

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“…Also, thanks to their long-term perspective, MDBs could promote macroeconomic stability, growth and an investment-friendly environment, 3 all factors that can attract private creditors (Eichengreen and Mody, 2000;Kidwelly, 2017). In a similar vein, the presence of MDBs itself can signal to the private market the donors' trust in the country's institutional capacity and its commitment to reform, raising creditworthiness and consequently private capital inflows (Morris and Shin, 2006;Basílio, 2014). MDBs can also mobilize private resources thanks to the reduction of political and credit risks.…”

Section: Introductionmentioning

confidence: 99%

Mobilization Effects of Multilateral Development Banks

Broccolini¹,

Lotti

Maffioli³

et al. 2020

The World Bank Economic Review

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This study uses loan-level data on syndicated lending to a large sample of developing countries between 1993 and 2017 to estimate the mobilization effects of multilateral development banks (MDBs), that is, their ability to crowd-in capital from private creditors. Controlling for a large set of fixed effects, the paper shows evidence of positive and significant mobilization effects of multilateral lending on the size of bank inflows. The number of lenders and the average maturity of syndicated loans also increase. These effects are present not only on impact but last for up to three years and are not offset by a decline in bond financing. There is no evidence of anticipation effects, and the results are robust to numerous tests controlling for the role of confounding factors and unobserved heterogeneity. Finally, the results are economically sizable, indicating that MDBs can mobilize about seven dollars in bank credit over a three-year period for each dollar invested.

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The Determinants of Multilateral Development Banks’ Participation in Infrastructure Projects

Cited by 16 publications

References 57 publications

The impact of socio-political and economic environments on private sector participation in energy infrastructure delivery in Ghana

The impact of socio-political and economic environments on private sector participation in energy infrastructure delivery in Ghana

The proliferation of multilateral development banks

Mobilization Effects of Multilateral Development Banks

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