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Mobilization Effects of Multilateral Development Banks

By: Chiara Broccolini,Giulia Lotti,Alessandro Maffioli,Mr.Andrea F Presbitero,Rodolfo Stucchi

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Mobilization Effects of Multilateral Development Banks

By: Chiara Broccolini,Giulia Lotti,Alessandro Maffioli,Mr.Andrea F Presbitero,Rodolfo Stucchi

We use 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), controlling for a large set of fixed effects. We find evidence of positive and significant direct and indirect mobilization effects of multilateral lending on the number of deals and on the total size of bank inflows. The number of lending banks and the average maturity of syndicated loans also increase after MDB lending. These effects are present not only on impact, but they last 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 not driven by confounding factors, such as the presence of large global banks, Chinese lending and aid flows. Finally, the economic effects are sizable, suggesting that MBDs can play a vital role to mobilize private sector financing to achieve the goals of the 2030 Development Agenda.

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Page Count

51

Publisher

International Monetary Fund

Published Date

ISBN 10

1498301061

ISBN 13

9781498301060

Mobilization Effects of Multilateral Development Banks

By: Chiara Broccolini,Giulia Lotti,Alessandro Maffioli,Mr.Andrea F Presbitero,Rodolfo Stucchi

Write a review Read reviews Take a Quiz Solve Book Puzzle

Mobilization Effects of Multilateral Development Banks

By: Chiara Broccolini,Giulia Lotti,Alessandro Maffioli,Mr.Andrea F Presbitero,Rodolfo Stucchi

We use 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), controlling for a large set of fixed effects. We find evidence of positive and significant direct and indirect mobilization effects of multilateral lending on the number of deals and on the total size of bank inflows. The number of lending banks and the average maturity of syndicated loans also increase after MDB lending. These effects are present not only on impact, but they last 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 not driven by confounding factors, such as the presence of large global banks, Chinese lending and aid flows. Finally, the economic effects are sizable, suggesting that MBDs can play a vital role to mobilize private sector financing to achieve the goals of the 2030 Development Agenda.

Average ratings

N/A

5

0%

4

0%

3

0%

2

0%

1

0%

Solve jigsaw puzzle

Age

Page Count

51

Publisher

International Monetary Fund

Published Date

ISBN 10

1484393864

ISBN 13

9781484393864