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Flows of development financing from the BRICs (Brazil, Russia, India, and China) to low income countries (LICs) have surged in recent years. Unlike aid from traditional donors, BRICs (excluding Russia) view their financing as primarily based on the principles of South-South cooperation, focusing on mutual benefits without attachment of policy conditionality. This paper provides an overview of the philosophies and modalities of BRIC financing and examines their implications for LIC economies and future LIC-BRIC engagement.
Book Synopsis BRICs’ Philosophies for Development Financing and their Implications for LICs by : MissNkunde Mwase
Download or read book BRICs’ Philosophies for Development Financing and their Implications for LICs written by MissNkunde Mwase and published by International Monetary Fund. This book was released on 2012-03-01 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Flows of development financing from the BRICs (Brazil, Russia, India, and China) to low income countries (LICs) have surged in recent years. Unlike aid from traditional donors, BRICs (excluding Russia) view their financing as primarily based on the principles of South-South cooperation, focusing on mutual benefits without attachment of policy conditionality. This paper provides an overview of the philosophies and modalities of BRIC financing and examines their implications for LIC economies and future LIC-BRIC engagement.
BRICs development financing flows have increased significantly and are expected to become more prominent in the post-crisis era. We investigate the potential implications on the country-allocation of loan commitments and the degree of concessionality using a panel vector autoregression model and single equation dynamic panel estimation.We find that BRICs lend more to LICs with weaker institutions. Land-locked, resource-scarce LICs receive significantly less financing than other resource-rich LICs. The degree of concessionality is negatively correlated with the amount of loans and positively correlated with better institutional indicators suggesting that the higher the risks, the higher the required returns that BRICs expect.
Book Synopsis Determinants of Development Financing Flows From Brazil, Russia, India, and China to Low-Income Countries by : MissNkunde Mwase
Download or read book Determinants of Development Financing Flows From Brazil, Russia, India, and China to Low-Income Countries written by MissNkunde Mwase and published by International Monetary Fund. This book was released on 2011-11-01 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: BRICs development financing flows have increased significantly and are expected to become more prominent in the post-crisis era. We investigate the potential implications on the country-allocation of loan commitments and the degree of concessionality using a panel vector autoregression model and single equation dynamic panel estimation.We find that BRICs lend more to LICs with weaker institutions. Land-locked, resource-scarce LICs receive significantly less financing than other resource-rich LICs. The degree of concessionality is negatively correlated with the amount of loans and positively correlated with better institutional indicators suggesting that the higher the risks, the higher the required returns that BRICs expect.
BRICs development financing flows have increased significantly and are expected to become more prominent in the post-crisis era. We investigate the potential implications on the country-allocation of loan commitments and the degree of concessionality using a panel vector autoregression model and single equation dynamic panel estimation. We find that BRICs lend more to LICs with weaker institutions. Land-locked, resource-scarce LICs receive significantly less financing than other resource-rich LICs. The degree of concessionality is negatively correlated with the amount of loans and positively correlated with better institutional indicators suggesting that the higher the risks, the higher the required returns that BRICs expect.
Book Synopsis Determinants of Development Financing Flows from Brazil, Russia, India, and China to Low-Income Countries by : Nkunde Mwase
Download or read book Determinants of Development Financing Flows from Brazil, Russia, India, and China to Low-Income Countries written by Nkunde Mwase and published by . This book was released on 2014 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: BRICs development financing flows have increased significantly and are expected to become more prominent in the post-crisis era. We investigate the potential implications on the country-allocation of loan commitments and the degree of concessionality using a panel vector autoregression model and single equation dynamic panel estimation. We find that BRICs lend more to LICs with weaker institutions. Land-locked, resource-scarce LICs receive significantly less financing than other resource-rich LICs. The degree of concessionality is negatively correlated with the amount of loans and positively correlated with better institutional indicators suggesting that the higher the risks, the higher the required returns that BRICs expect.
The emergence of BRICs-Brazil, Russia, India, and China-is reshaping low-income countries' (LICs) international economic relations. While industrial countries remain LICs' dominant development partners, LIC-BRIC ties have increased so rapidly over the past decade that BRICs have become new growth drivers for LICs. Trade with BRICs is already close to half of the value of combined trade with the European Union and the United States, and larger than with other emerging market economies. BRIC FDI and development financing are making a significant impact in some key areas despite their relatively small volumes compared with those from advanced countries. Beyond the increased flows of goods and capital, BRICs have brought new dynamics in LICs' economic relations with the rest of the world, complementing as well as competing with OECD partners. Nevertheless, while potential benefits from the LIC-BRIC ties are enormous, there are challenges and risks in realizing such benefits.
Book Synopsis New Growth Drivers for Low-Income Countries by : Internationaler Währungsfonds
Download or read book New Growth Drivers for Low-Income Countries written by Internationaler Währungsfonds and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The emergence of BRICs-Brazil, Russia, India, and China-is reshaping low-income countries' (LICs) international economic relations. While industrial countries remain LICs' dominant development partners, LIC-BRIC ties have increased so rapidly over the past decade that BRICs have become new growth drivers for LICs. Trade with BRICs is already close to half of the value of combined trade with the European Union and the United States, and larger than with other emerging market economies. BRIC FDI and development financing are making a significant impact in some key areas despite their relatively small volumes compared with those from advanced countries. Beyond the increased flows of goods and capital, BRICs have brought new dynamics in LICs' economic relations with the rest of the world, complementing as well as competing with OECD partners. Nevertheless, while potential benefits from the LIC-BRIC ties are enormous, there are challenges and risks in realizing such benefits.
Credit is the lifeblood of capitalism and development. Brazil, Russia, India, and China-also called BRICs-have become important creditors to developing countries. However, how will their loans affect economic development and democracy in recipient countries? We need to understand why governments accept Chinese over Western loan offers before we can predict their likely consequences. In Raise the Debt, Jonas B. Bunte systematically explains how governments choose among competing loan offers. Using statistical analyses and extensive interview data, he shows that the strings attached to loans vary across creditors. Consequently, one domestic interest group may benefit from Chinese credit but not U.S. loans, while the opposite is the case for other groups. Bunte provides evidence that governments cater to whichever domestic interest group is politically dominant when deciding between competing loan offers. Combining a comparative politics approach with international political economy methods, Raise the Debt shows how a deeper understanding of governments' borrowing decisions is critical for gaining insights into how these loans could impact growth and democracy on a global scale.
Book Synopsis Raise the Debt by : Jonas B. Bunte
Download or read book Raise the Debt written by Jonas B. Bunte and published by Oxford University Press. This book was released on 2019-01-29 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Credit is the lifeblood of capitalism and development. Brazil, Russia, India, and China-also called BRICs-have become important creditors to developing countries. However, how will their loans affect economic development and democracy in recipient countries? We need to understand why governments accept Chinese over Western loan offers before we can predict their likely consequences. In Raise the Debt, Jonas B. Bunte systematically explains how governments choose among competing loan offers. Using statistical analyses and extensive interview data, he shows that the strings attached to loans vary across creditors. Consequently, one domestic interest group may benefit from Chinese credit but not U.S. loans, while the opposite is the case for other groups. Bunte provides evidence that governments cater to whichever domestic interest group is politically dominant when deciding between competing loan offers. Combining a comparative politics approach with international political economy methods, Raise the Debt shows how a deeper understanding of governments' borrowing decisions is critical for gaining insights into how these loans could impact growth and democracy on a global scale.
This book investigates China’s contemporary development cooperation mentality and modality through the case of its agricultural engagement with Africa. It identifies three models, namely traditional agro-aid, innovative agro-aid and agribusiness models, of Chinese current agro-development cooperation with Africa, and unpacks the different models by tracing their historical origins and examining the actual practice based on project-level fieldwork conducted in Mozambique and South Africa. The book provides a preliminary and qualitative evaluation of China’s current agro-development cooperation with Africa, and explains the ‘implementation gaps’ as observed on the ground adopting a public policy approach. It also compares the Chinese way of development cooperation with that of the traditional donors (particularly the OECD-DAC members), and calls for a broadening understanding for international development cooperation that can allow win-win ideology and embrace diversified cooperation forms beyond the official development assistance (ODA).
Book Synopsis Beyond Official Development Assistance by : Lu Jiang
Download or read book Beyond Official Development Assistance written by Lu Jiang and published by Springer Nature. This book was released on 2019-09-13 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates China’s contemporary development cooperation mentality and modality through the case of its agricultural engagement with Africa. It identifies three models, namely traditional agro-aid, innovative agro-aid and agribusiness models, of Chinese current agro-development cooperation with Africa, and unpacks the different models by tracing their historical origins and examining the actual practice based on project-level fieldwork conducted in Mozambique and South Africa. The book provides a preliminary and qualitative evaluation of China’s current agro-development cooperation with Africa, and explains the ‘implementation gaps’ as observed on the ground adopting a public policy approach. It also compares the Chinese way of development cooperation with that of the traditional donors (particularly the OECD-DAC members), and calls for a broadening understanding for international development cooperation that can allow win-win ideology and embrace diversified cooperation forms beyond the official development assistance (ODA).
This book studies the theory, practice and evaluation methods of international development cooperation, aid and assistance management in detail from a global perspective. It attempts to answer the following questions: How effective are the current Western aid methods? How should China optimize current international development cooperation? How to effectively design an aid management system in the international community? How to assess the effectiveness of aid?The book contributes to studies in international development cooperation. The theoretical part analyzes the main concepts, viewpoints, theories, and disputes in current international development cooperation, primarily focusing on the differences in concepts between traditional development donors and emerging donors represented by China. The practical part studies the roles and importance of different subjects in international development assistance. This part also explores the impact of different aid management institutions on international development cooperation. The evaluation part reviews the current mainstream methods of international development assessment and uses non-experimental methods of impact evaluation and randomized controlled trials (RCTs).
Book Synopsis International Development Cooperation: Theory, Practice, And Evaluation by : Jianzhi Zhao
Download or read book International Development Cooperation: Theory, Practice, And Evaluation written by Jianzhi Zhao and published by World Scientific. This book was released on 2023-02-27 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book studies the theory, practice and evaluation methods of international development cooperation, aid and assistance management in detail from a global perspective. It attempts to answer the following questions: How effective are the current Western aid methods? How should China optimize current international development cooperation? How to effectively design an aid management system in the international community? How to assess the effectiveness of aid?The book contributes to studies in international development cooperation. The theoretical part analyzes the main concepts, viewpoints, theories, and disputes in current international development cooperation, primarily focusing on the differences in concepts between traditional development donors and emerging donors represented by China. The practical part studies the roles and importance of different subjects in international development assistance. This part also explores the impact of different aid management institutions on international development cooperation. The evaluation part reviews the current mainstream methods of international development assessment and uses non-experimental methods of impact evaluation and randomized controlled trials (RCTs).
Is South-South Cooperation (SSC) any different from other international partnerships in practice? While straightforward, this question often gets lost in conventional scholarship on SSC and international cooperation, which privileges macro-level narratives of how cooperation mechanisms fit within geopolitical concerns and shape the outcomes of foreign aid. Equity, Evaluation, and International Cooperation instead offers an answer from the ground up. It highlights two main lessons from the close examination of the ecosystem of international cooperation projects in the urban water-and-sanitation sector in Maputo, Mozambique. First, the book shows that macro labels attributed to international cooperation reflect very little about how cooperation projects operate on the ground and the equity consequences of their work. Second, how projects are designed, implemented, and evaluated does matter to the quality of learning that emanates from partnerships. Beyond the geopolitical and technical proximities favored by the SSC discourse, this book argues that what matters in practice is whether hierarchy or heterarchy is institutionalized in the governance of cooperation projects; whether project partners are locally embedded in shared work spaces; and whether practitioners value flexibility and recognize the epistemic value of learning from all partners as peers. A strong evaluation culture within the international development industry, however, still subjugates such equity-based concerns and deep learning in projects to accountability, reinforcing orthodox power asymmetries in cooperation and sustaining epistemic and distributive injustice. This book instead provides a framework for how project evaluations, as a key narrative instrument of development, can instead promote distributive, procedural, and epistemic justice in international cooperation projects.
Book Synopsis Equity, Evaluation, and International Cooperation by : Gabriella Y. Carolini
Download or read book Equity, Evaluation, and International Cooperation written by Gabriella Y. Carolini and published by Oxford University Press. This book was released on 2022 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is South-South Cooperation (SSC) any different from other international partnerships in practice? While straightforward, this question often gets lost in conventional scholarship on SSC and international cooperation, which privileges macro-level narratives of how cooperation mechanisms fit within geopolitical concerns and shape the outcomes of foreign aid. Equity, Evaluation, and International Cooperation instead offers an answer from the ground up. It highlights two main lessons from the close examination of the ecosystem of international cooperation projects in the urban water-and-sanitation sector in Maputo, Mozambique. First, the book shows that macro labels attributed to international cooperation reflect very little about how cooperation projects operate on the ground and the equity consequences of their work. Second, how projects are designed, implemented, and evaluated does matter to the quality of learning that emanates from partnerships. Beyond the geopolitical and technical proximities favored by the SSC discourse, this book argues that what matters in practice is whether hierarchy or heterarchy is institutionalized in the governance of cooperation projects; whether project partners are locally embedded in shared work spaces; and whether practitioners value flexibility and recognize the epistemic value of learning from all partners as peers. A strong evaluation culture within the international development industry, however, still subjugates such equity-based concerns and deep learning in projects to accountability, reinforcing orthodox power asymmetries in cooperation and sustaining epistemic and distributive injustice. This book instead provides a framework for how project evaluations, as a key narrative instrument of development, can instead promote distributive, procedural, and epistemic justice in international cooperation projects.
The emergence of BRICs—Brazil, Russia, India, and China—is reshaping low-income countries’ (LICs) international economic relations. While industrial countries remain LICs’ dominant development partners, LIC-BRIC ties have increased so rapidly over the past decade that BRICs have become new growth drivers for LICs. Trade with BRICs is already close to half of the value of combined trade with the European Union and the United States, and larger than with other emerging market economies. BRIC FDI and development financing are making a significant impact in some key areas despite their relatively small volumes compared with those from advanced countries. Beyond the increased flows of goods and capital, BRICs have brought new dynamics in LICs’ economic relations with the rest of the world, complementing as well as competing with OECD partners. Nevertheless, while potential benefits from the LIC-BRIC ties are enormous, there are challenges and risks in realizing such benefits.
Book Synopsis New Growth Drivers for Low-Income Countries - The Role of the BRICs by : International Monetary Fund
Download or read book New Growth Drivers for Low-Income Countries - The Role of the BRICs written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-12-01 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: The emergence of BRICs—Brazil, Russia, India, and China—is reshaping low-income countries’ (LICs) international economic relations. While industrial countries remain LICs’ dominant development partners, LIC-BRIC ties have increased so rapidly over the past decade that BRICs have become new growth drivers for LICs. Trade with BRICs is already close to half of the value of combined trade with the European Union and the United States, and larger than with other emerging market economies. BRIC FDI and development financing are making a significant impact in some key areas despite their relatively small volumes compared with those from advanced countries. Beyond the increased flows of goods and capital, BRICs have brought new dynamics in LICs’ economic relations with the rest of the world, complementing as well as competing with OECD partners. Nevertheless, while potential benefits from the LIC-BRIC ties are enormous, there are challenges and risks in realizing such benefits.
This insightful book investigates the role of the UN Secretariat in an era of significant global power shifts. It argues that though UN staff can shape political outcomes towards their own ideals and the UN’s institutional mission, their powers are limited by member states seeking to influence and control the Secretariat.
Book Synopsis Global Institutions in a Time of Power Transition by : Kendall Stiles
Download or read book Global Institutions in a Time of Power Transition written by Kendall Stiles and published by Edward Elgar Publishing. This book was released on 2023-08-14 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: This insightful book investigates the role of the UN Secretariat in an era of significant global power shifts. It argues that though UN staff can shape political outcomes towards their own ideals and the UN’s institutional mission, their powers are limited by member states seeking to influence and control the Secretariat.
