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‣ World Bank Lending and Financial Sector Development
Fonte: World Bank
Publicador: World Bank
Tipo: Artigo de Revista Científica
Português
Relevância na Pesquisa
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#bank lending#bank loans#borrowers#borrowing#financial development#financial sector development#interest#interest rate#private credit
A new database of World Bank loans to support financial sector development is used to investigate whether countries that received such loans experienced more rapid growth on standard indicators of financial development than countries that did not. Self-selection is accounted for with treatment-effects regressions. The results indicate that borrowing countries had significantly more rapid growth in M2/GDP than nonborrowers and swifter reductions in interest rate spreads and cash holdings (as a share of M2). Borrowers also had higher private credit growth rates than nonborrowers in some treatment-effects regressions but not in standard panel regressions with fixed country effects. On the whole, the results indicate some significant advantages in financial development for borrowers over nonborrowers.
Link permanente para citações:
‣ Bank Financing for SMEs around the World : Drivers, Obstacles, Business Models, and Lending Practices
Fonte: Washington, DC: World Bank
Publicador: Washington, DC: World Bank
Português
Relevância na Pesquisa
58.76337%
#ACCESS TO CREDIT#ACCESS TO FINANCE#ACCESS TO INFORMATION#BANK CONSOLIDATION#BANK FINANCING#BANK INVOLVEMENT#BANK LENDING#BANK LOANS#BANK POLICY#BANKING INDUSTRY#BANKING PRACTICES
Using data from a survey of 91 banks in
45 countries, the authors characterize bank financing to
small and medium enterprises (SMEs) around the world. They
find that banks perceive the SME segment to be highly
profitable, but perceive macroeconomic instability in
developing countries and competition in developed countries
as the main obstacles. To serve SMEs banks have set up
dedicated departments and decentralized the sale of products
to the branches. However, loan approval, risk management,
and loan recovery functions remain centralized. Compared
with large firms, banks are less exposed to small
enterprises, charge them higher interest rates and fees, and
experience more non-performing loans from lending to them.
Although there are some differences in SMEs financing across
government, private, and foreign-owned banks - with the
latter being more likely to engage in arms-length lending -
the most significant differences are found between banks in
developed and developing countries. Banks in developing
countries tend to be less exposed to SMEs...
Link permanente para citações:
‣ Albania : Access to Finance for Enterprise Sector
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
Português
Relevância na Pesquisa
58.709775%
#ACCESS TO BANK LOANS#ACCESS TO CAPITAL#ACCESS TO CREDIT#ACCESS TO FINANCE#ACCESSIBILITY#ACCOUNTING#AGRICULTURAL ACTIVITIES#AGRICULTURAL SECTOR#ANTI-MONEY LAUNDERING#ATM NETWORK#BALANCE SHEET
This report was prepared in close
collaboration with the Bank of Albania. This report focused
on trade, services, and agriculture; however, the limited
scope of their operations still leaves a potentially large
unmet demand for credit in agriculture. This report focuses
on problems related to the operation of Immovable Property
Registry System (IPRS) and other institutions and the
formalization of property rights and inscription of
mortgages. This study believes the reform with most optimum
impact on sustainable credit growth will be focused on (i)
improving the quality, breadth, and depth of financial
intermediation, (ii) growth and development of credit unions
and microfinance institutions, and (iii) facilitate the
development of new instruments. The authorities will also
focus on implementing reforms to become compliant with
Financial Action Task Force (FATF) recommendation.
Link permanente para citações:
‣ Bank Lending to Small and Medium Enterprises : The Republic of Serbia
Fonte: Washington, DC
Publicador: Washington, DC
Português
Relevância na Pesquisa
58.76337%
#ACCEPTABLE COLLATERAL#ACCESS POINTS#ACCESS TO BANKING#ACCESS TO BANKING SERVICES#ACCESS TO CREDIT#ACCESS TO FINANCE#ACCOUNTING#ADVISORY SERVICES#AGRICULTURAL BANK#AMOUNT OF CREDIT#APPROVAL PROCESSES
This report presents findings of a study
of Bank lending to small and medium enterprises (SME) in
Serbia. The study uses methodology developed by the Bank
and already used in a number of studies in South America.
The study is based on answers to standard questionnaires and
detailed on-site interviews with eight banks. The
interviewed banks are the most active in SME lending in
Serbia and account for about 70 percent of the total market.
Banks are currently offering a fairly broad range of both
tailored and standardized products and are increasingly
flexible with product pricing. This includes checking,
savings and time deposit accounts; export and import loans;
overdrafts for working capital and investment loans;
business credit cards; various types of payment services;
Internet and phone banking. The report is organized as
follows: section two describes the banking sector and
markets in Serbia, reviews definition of SMEs and provides
key characteristics of the SME finance market in Serbia.
Section three discusses details of SME access to finance. It
describes the drivers and obstacles...
Link permanente para citações:
‣ Financial Sector Assessment : Barbados
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
Português
Relevância na Pesquisa
58.66427%
#ACCOUNTING#ASSET MANAGEMENT#ASSET QUALITY#ASSET RATIO#ASSET VALUES#ASSETS RATIOS#BALANCE SHEET#BANK CREDIT#BANK LENDING#BANK SUPERVISION#BANKING SECTOR
The financial system faces a weak
economic outlook and a deteriorating fiscal position posing
substantial macroeconomic risks. As a result, sovereign risk
has increased while the fixed exchange rate further limits
policy options. The financial system has sizeable sovereign
risk exposures and non-performing loans are rising although
high capital and liquidity buffers in combination with
strong parent entities mitigate risks. Credit unions appear
more vulnerable. Since the 2008 financial sector assessment
program (FSAP), the regulatory and supervisory framework has
improved across all sectors. Consolidated risk-based
supervision was introduced in the banking sector along with
a formalization of supervisory methodologies. The government
has committed a major adjustment package aimed at
stabilizing international reserves and consolidating the
fiscal position. Even if planned policies are successful,
Barbados will continue to face challenging growth prospects,
driven by weakened tourism markets, including Canada, the
United Kingdom...
Link permanente para citações:
‣ Potentials and Constraints of Using Warehouse Receipts Financing
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
Tipo: Trabalho em Andamento
Português
Relevância na Pesquisa
58.74843%
#TAX INCENTIVES#MONETARY POLICY#FINANCIAL SERVICES#BORROWER#WAREHOUSE#DISASTER RECOVERY#DEPOSITS#DEMAND FOR CREDIT#CREDIT BANKS#FINANCING#PAYMENT OBLIGATIONS
The paper starts with an overview of
Cambodia’s rice sector, with a particular attention to
aspects which affect its need for external working capital
finance, and characteristics and constraints that could
hinder access to such finance (e.g., warehousing capacity,
processing constraints, logistics, and market risks).
Chapter two describes the general conditions for crop-based
financing in Cambodia’s rice sector. Chapter three discusses
policy options for enhancing the use of paddy and rice as
collateral for financing. The chapter sets out the two main
modalities: collateral management, and public warehousing.
Both collateral management and public warehousing work best
when certain support structures are in place, in particular
an indemnity system, a system for the electronic trading of
warehouse receipts, and a facility for refinancing warehouse
receipt loans (which could be managed by the Central Bank or
outsourced to another competent entity such as an investment
fund). These are discussed in separate sections. The various
sections describe the situation as currently prevails in
Cambodia...
Link permanente para citações:
‣ Riesgo soberano y política monetaria : efectos sobre los préstamos bancarios y el crédito comercial; Sovereign risk and monetary policy : effects on bank loans and trade credit
Fonte: Universidade de Cantabria
Publicador: Universidade de Cantabria
Tipo: Tese de Doutorado
Português
Relevância na Pesquisa
67.99147%
#Riesgo soberano#Política monetaria#Préstamos bancarios#Crédito comercial#Sovereign risk#Monetary policy#Bank loans#Trade credit
RESUMEN: El objetivo de esta tesis doctoral es analizar la influencia del riesgo soberano sobre el canal de crédito de la política monetaria desde una doble perspectiva. La primera parte examina cómo el riesgo soberano determina los efectos de la política monetaria sobre los préstamos bancarios durante restricciones y expansiones monetarias. La segunda parte estudia el impacto del riesgo soberano sobre el crédito comercial, tanto directamente como a través de la política monetaria.
En la primera parte, los resultados muestran que los bancos que operan en países con mayor riesgo soberano contraen más su oferta crediticia durante restricciones monetarias, mientras que no existen suficientes evidencias de que aumenten menos su oferta de préstamos durante expansiones monetarias. Asimismo, cuando el riesgo soberano es muy elevado, los bancos reducen su oferta de crédito independientemente del régimen monetario.
En la segunda parte, los resultados indican que, durante la crisis, el crédito comercial extendido y neto (diferencia entre el crédito comercial extendido y recibido) descienden a medida que aumenta el riesgo soberano. Sin embargo, en los años de crisis, el crédito comercial recibido se incrementa cuanto mayor es el riesgo soberano...
Link permanente para citações:
‣ Kyrgyz Republic : Access to Financial Services Policy Note
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
Tipo: Economic & Sector Work :: Policy Note; Economic & Sector Work
Português
Relevância na Pesquisa
58.601787%
#ACCESS TO CREDIT#ACCESS TO FINANCE#ACCESS TO FINANCIAL SERVICES#ACCESS TO FINANCING#ACCESS TO INFORMATION#ACCESS TO RESOURCES#ACCOUNTING#ACCOUNTING PRACTICES#ACCOUNTING STANDARDS#ACCOUNTS RECEIVABLE#ADB
The purpose of this paper is to report
on the level of access to formal financial services in the
Kyrgyz Republic, assess the key obstacles to improving
access, and make recommendations to overcome these
obstacles. The paper is organized as follows. Sections II to
IV examine the supply of financial services. Specifically,
section II presents a profile of financial intermediation by
banks, focusing their supply of financial services,
particularly lending and deposits. Section III presents a
profile of lending by Aiyl Bank, a specialized bank with a
limited license, which is mandated to lend for agriculture.
Section IV presents a profile of lending by non-bank
financial institutions (NBFIs), including microfinance
organizations (MFOs) and credit unions. Section V examines
the demand side for financial services, drawing on
enterprise surveys to assess firms' perceptions of
their access to finance. Section VI presents a brief
analysis of the impact of the events of April 2010 on access
to finance. Section VII discusses key obstacles in
increasing access to finance from banks and NBFIs. Section
VIII concludes with policy recommendations that derive from
the preceding analysis.
Link permanente para citações:
‣ Turkey : Rural Finance Study, Volume 2. Expanded Report
Fonte: Washington, DC
Publicador: Washington, DC
Tipo: Economic & Sector Work :: Other Rural Study; Economic & Sector Work
Português
Relevância na Pesquisa
58.742344%
#ACCESS TO CREDIT#ACCESS TO FINANCE#ACCESS TO FINANCIAL SERVICES#ACCESS TO FUNDS#ACCOUNTING#ACCRUED EXPENSES#ADMINISTRATIVE COSTS#ADMINISTRATIVE OVERHEADS#AGRICULTURAL ACTIVITIES#AGRICULTURAL ACTIVITY#AGRICULTURAL CREDIT
Over the past five years in Turkey, the
agricultural and rural sector has seen substantial change in
transfer policies which now place greater emphasis on
improved equity and investment. These have been summarized
in the earlier World Bank "Review of the Impact of the
Reform of Agricultural Sector Subsidization (2004), and
"Policy and Investment Priorities for Agricultural and
Rural Development" (2005). Currently, the structural
changes in the agricultural sector and rural employment
generation in response to labor shedding in the agricultural
sector are key challenges to which Turkey is responding in
the design of and agricultural and rural development
strategy. However, the impact of government transfers and
public investment policies in the rural sector will be
limited unless the supply of, access to, and demand for
rural financial services is significantly increased. For
these reasons, the Turkey Rural Finance study (RFS) seeks to
establish a policy agenda for the Government of Turkey (GOT)
in order to contribute to the effort of renewed growth of
the rural financial system after a period of prolonged
decline. In order to inform this policy agenda...
Link permanente para citações:
‣ Bank Ownership and Lending Patterns during the 2008-2009 Financial Crisis : Evidence from Latin America and Eastern Europe
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
58.82224%
#ACCOUNTING#AFFILIATES#ASSET RATIO#ASSETS RATIO#BANK ACCESS#BANK ASSET#BANK ASSETS#BANK BEHAVIOR#BANK CREDIT#BANK EQUITY#BANK INTERMEDIATION
This paper examines the impact of bank
ownership on credit growth in developing countries before
and during the 2008-2009 crisis. Using bank-level data for
countries in Eastern Europe and Latin America, it analyzes
the growth of banks' total gross loans as well as the
growth of corporate, consumer, and residential mortgage
loans. Although domestic private banks in Eastern Europe and
Latin America contracted their loan growth rates during the
crisis, there are differences in foreign and
government-owned bank credit growth across regions. In
Eastern Europe, foreign bank total lending fell by more than
domestic private bank credit. These results are primarily
driven by reductions in corporate loans. Furthermore,
government-owned banks in Eastern Europe did not act
counter-cyclically. The opposite was true in Latin America,
where the growth of government-owned banks' corporate
and consumer loans during the crisis exceeded that of
domestic and foreign banks. Contrary to the case of foreign
banks in Eastern Europe...
Link permanente para citações:
‣ World Bank Engagement at the State Level : The Cases of Brazil, India, Nigeria and Russia
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Brief; Publications & Research
Português
Relevância na Pesquisa
67.65567%
#ACCOUNTABILITY#BANK LENDING#BANK LOANS#BORROWER#BORROWING#BUDGETING#CAPACITY BUILDING#DEFICITS#DISBURSEMENTS#DOMESTIC MARKET#ECONOMIC POLICIES
Beginning in the late 1990s, the World
Bank significantly expanded its engagement at the state
level in Brazil, India, Nigeria, and Russia. This pilot
cross-country study reviews the selected cases of World
Bank's lending and analytic work at the state level in
those four large federated countries. In each case, state
governments were the Bank's principal development
partners. The study looks at the evolution of the four
country strategies and the Bank's mode of engagement at
the state level, in order to draw lessons from that
experience both for the Bank and for its federal and state
partners. State-level engagement posed several strategic and
operational questions, among them which states to engage,
the scope of engagement, and the modalities of engagement.
The Bank set out its approach to selecting states in country
strategy documents. The findings are worth highlighting.
First, the study confirms the desirability of continued
selective Bank lending in a few states. However, the poverty
impact of those interventions could be enhanced by balancing
states' propensity to reform and the concentration of
poverty within them...
Link permanente para citações:
‣ The World Bank Annual Report 2000; Volume 2. Financial Statements and Appendixes
Fonte: Washington, DC
Publicador: Washington, DC
Tipo: Publications & Research :: World Bank Annual Report; Publications & Research :: Publication
Português
Relevância na Pesquisa
58.698394%
#ADAPTABLE PROGRAM LOANS#ADJUSTMENT LOANS#BIDDING#BORROWER#BORROWING#BORROWINGS#CAPITAL MARKETS#CENTRAL BANK#COMMITMENT#COMMITMENT CHARGE#COMMITMENT CHARGES
This annual report, which covers the
period from July 1, 1999 to June 30, 2000, spells out the
guiding principles of the Bank's work: country
ownership, long-term integrated approach, partnership, and
results focus. This vision was put into practice under a
pilot approach, the Comprehensive Development Framework. The
following are some of the highlights of Fiscal Year 2000: a)
The share of projects at risk of not achieving their
development objectives fell to an estimated 15 percent of
the total in fiscal 2000, or roughly half the rate of fiscal
1998. b) New lending commitments declined to $15.3 billion.
c) Seven countries qualified for debt relief under the
enhanced initiative for Heavily Indebted Poor Countries, six
of them in Africa. d) The Bank and the International
Monetary Fund began to help countries prepare Poverty
Reduction Strategies, which are becoming the basis for debt
relief and concessional lending by the Bank, the Fund, and
other development partners. e) The Bank announced up to $1
billion support to help borrowers of the International
Development Association to combat HIV/AIDS...
Link permanente para citações:
‣ Financial Sector Assessment Program Update : Republic of Poland - Credit, Growth, and Financial Stability
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
Tipo: Economic & Sector Work :: Financial Sector Assessment Program (FSAP); Economic & Sector Work
Português
Relevância na Pesquisa
58.76337%
#ACCOUNTING#AMOUNT OF LOANS#ARREARS#ASSET QUALITY#ASSETS RATIO#AUDITING#BALANCE SHEET#BALANCE SHEETS#BANK ACCOUNT#BANK BALANCE SHEETS#BANK CREDIT
Two main issues at the interface between
economic growth and financial stability are germane to this
year's article four consultation and the Financial
Sector Assessment Program (FSAP) update: the first is why
the recent pace of financial catching-up has been so much
slower in Poland than in its regional peers, and whether
this might hamper Poland's long-term economic
prospects; and the second question is how significant the
prudential risks associated with rapid growth in housing
loans are. The chapter is organized as follows: section II.B
discusses credit developments in the last decade and factors
driving these developments and assesses implications for
economic growth. Section II.C examines reasons for rapid
growth of foreign currency lending and implications for
financial stability. Section II.D (and appendix) review
cross-country experiences with policy responses to rapid
credit growth of foreign currency credit and discuss recent
policy measures taken in Poland. Section II.E concludes the chapter.
Link permanente para citações:
‣ Bank Loan Classification and Provisioning Practices in Selected Developed and Emerging Countries
Fonte: Washington, DC: World Bank
Publicador: Washington, DC: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
Português
Relevância na Pesquisa
58.57517%
#BANKS & BANKING#EMERGING ECONOMIES#PROVISIONING#RISK MANAGEMENT#EXTERNAL AUDITORS#FINANCIAL SYSTEMS#LOANS GOVERNMENT GUARANTY#LOAN GUARANTEES#BEST PRACTICES#REGULATORY FRAMEWORK#REGULATORY CONTROL ACCOUNTING
This report reviews loan classification
and provisioning practices in a broad sample of countries
that differ in size, location and level of financial
development. The survey conducted for the report compares
the regulatory approaches adopted by industrial and emerging
economies, and is intended to complement other sources of
information that focus exclusively on either industrial or
developing countries. It covers classification of individual
and multiple loans, treatment of guarantees, collateral and
restructured loans, bank loans review processes, loan loss
provisioning, tax treatment of loan loss provisions,
disclosure standards, and external auditors' role.
Differences in provisioning and classification approaches
have often made difficult a comparison of bank and banking
system weaknesses across regulatory regimes. Poor
classification and provisioning practices have led to
solvency ratios that gave a false sense of security, as
occurred when seemingly adequately capitalized financial
systems failed in the 1990s. Successful regulatory
harmonization therefore requires a set of minimum standards
for loan classification that is grounded in sound risk
management practices...
Link permanente para citações:
‣ The World Bank's Early Reflections on Development : A Development Institution or a Bank?
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
58.76787%
#BALANCE OF PAYMENTS#BANK LENDING#BANK LOANS#BANK OFFICIAL#BANK OFFICIALS#BASIC NEEDS#BONDS#BORROWING#BUSINESS COMMUNITY#CONSUMER#CONSUMER GOODS
Until the late 1960s, the World Bank
presented itself as an institution devoted to making sound
and directly productive project loans. Yet, during its very
early years, some discussions developed inside the Bank
regarding the possibility of issuing different types of
loans, namely (i) loans aimed at tackling social issues
("social loans"), and (ii) loans aimed at
providing foreign currency to address disequilibria in the
balance of payments ("impact loans"). This paper
brings together historical analysis and theories of
organization development to study the housing issue as a
case in point. The analysis reveals that the Bank was
unwilling to lend for housing programs not because these
were not sound - in fact, they were - but because they were
geared toward achieving social welfare objectives and were
not directly linked to productive investment projects, such
as dams, power stations, and railroads. This early decision
had a significant impact on the subsequent development of
the Bank's view of policy-making: it locked the
institution into a particular lending pattern...
Link permanente para citações:
‣ World Bank Lending and Financial Sector Development
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
Tipo: Publications & Research; Publications & Research :: Policy Research Working Paper
Português
Relevância na Pesquisa
68.62561%
#ACCOUNTING#ADJUSTMENT LENDING#ADJUSTMENT LOANS#AUDITING#AVERAGE GROWTH#AVERAGE GROWTH RATE#BALANCE SHEETS#BANK LENDING#BANK LOANS#BANK PRIVATIZATION#BANK REGULATION
Using a new database of World Bank loans to support financial sector development, the authors investigate whether countries that received such loans experienced more rapid growth on standard indicators of financial development than countries that did not. They account for self-selection with treatment effects regressions, and also use propensity score matching techniques. The authors' results indicate that borrowing countries had significantly more rapid growth in M2/GDP than non-borrowers, and swifter reductions in interest rate spreads and cash holdings (as a share of M2). Borrowers also had higher private credit growth rates than non-borrowers in treatment effects regressions, but not in standard panel regressions with fixed country effects. On the whole, however, the results indicate significant advantages for borrowers over non-borrowers in terms of financial development.
Link permanente para citações:
‣ Mitigating Risks in Power Reform : A New World Bank Lending Approach - Power Sector Reform in the Indian State of Haryana
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Viewpoint; Publications & Research
Português
Relevância na Pesquisa
68.6449%
#ACCOUNTABILITY#ADAPTABLE PROGRAM LOANS#ADJUSTMENT LOANS#AGRICULTURE#AUTHORITY#BORROWER#COMMERCIAL BANKS#COMMITMENT#COMMITMENTS#COMPETITIVE BIDDING#CONSENSUS
The World Bank has agreed to support
power sector reforms in Haryana with a new type of lending
instrument--the adaptable program loan--recently approved by
its board of directors. Under this approach, being applied
for the first time, the Bank will provide a series of loans
totaling US$600 million over eight to ten years, but will
commit the loans only when the state government has reached
agreed milestones. This approach allows the state
government milestones--not the covenants of standard World
Bank loans --to determine the timing of controversial
actions. The flexibility is intended to improve the reform
program's chances of success and avoid the stop-start
lending pattern that has characterized the Bank's past
lending to state electricity boards. This Note explains
Haryana's reform strategy and how the adaptable program
loan applies. Haryana's reform could have an important
demonstration effect.
Link permanente para citações:
‣ World Bank Lending and the Quality of Economic Policy
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
58.66427%
#ACCOUNTABILITY#ADJUSTMENT LOANS#ADVERSE EFFECTS#AGRICULTURE#AIC#AUDITS#BALANCE OF PAYMENTS#BANK POLICY#BASE YEAR#BEST PRACTICE#BOND
This study investigates the impact of
World Bank development policy lending on the quality of
economic policy. It finds that the quality of policy
increases, but at a diminishing rate, with the cumulative
number of policy loans. Similar results hold for the
cumulative number of conditions attached to policy loans,
although quadratic specifications indicate that additional
conditions may even reduce the quality of policy beyond some
point. The paper measures the quality of economic policy
using the World Bank's Country Policy and Institutional
Assessments of macro, debt, fiscal and structural policies,
and considers only policy loans targeted at improvements in
those areas. Previous studies finding weaker effects of
policy lending on macro stability have failed to distinguish
loans primarily intended to improve economic policy from
other loans targeted at improvements in sector policies or
in public management. The paper also shows that investing in
economic policy does not "crowd out" policy
improvements in other areas such as public sector governance
or human development. The results are robust to using
alternative indicators of policy quality...
Link permanente para citações:
‣ Demand for World Bank Lending
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
68.557886%
#ADJUSTMENT LOANS#BALANCE OF PAYMENTS#BANK LENDING#BANK LOANS#BANK PRIVATIZATION#BORROWING#BORROWING COSTS#BORROWING COUNTRIES#BORROWINGS#CAPITAL FLOWS#CAPITAL MARKETS
Bridging the external financing gap has
been an important factor in borrowing cgovernment's
demand for World Bank loans. The demand for IBRD and IDA
lending is positively related to an increase in debt service
payments and inversely related to a borrowing country's
level of reserves. These two variables explain a large part
of the variation in IBRD and IDA lending commitments, not
only since the Asian crisis but also during tranquil times
over the past two decades. Borrowing to service debt during
a crisis is consistent with the Bank's role as a lender
of last resort as well as with its core development
objectives, but such borrowing during tranquil times may
conflict with the Bank's long-term objective of
reducing poverty. That investment lending commitments are
related to debt service payments implies that aid may be
more fungible than previously believed. If Bank lending is
fungible and there is no guarantee that a particular Bank
loan is financing an identified investment project or
program, a case could be made for greater use of
programmatic lending (with well-defined conditionality) As
developing countries become larger and more integrated with
volatile international capaital markets...
Link permanente para citações:
‣ Mongolia Economic Update, November 2015
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
Tipo: Report; Economic & Sector Work :: Economic Updates and Modeling; Economic & Sector Work
Português
Relevância na Pesquisa
58.783906%
#MONETARY POLICY#WITHDRAWAL#CONSUMPTION EXPENDITURES#HOLDING#BORROWER#DURABLE GOODS#FOREIGN CAPITAL#EQUIPMENT#ACCOUNTING#FOREIGN DEBT#DEPOSITS
Mongolia’s growth sharply slowed to 3.0
percent in the first half of 2015. External demand is
weakening due to a continued dampening of the commodity
market and slower growth in China, translating into a drop
in exports. Slowing domestic demand is largely caused by a
plunge in investment due to falling foreign direct
investment (FDI). Measures were taken to curb the budget
deficit, debt, and off-budget expenditures. New deficit and
debt ceilings were set for 2015-18 by amending the fiscal
stability law (FSL) in January. The 2015 budget was amended
in January to curb the structural deficit within 5 percent
of gross domestic product (GDP). Growth is expected to slow
in 2015-16, but a recovery in foreign investment will begin
to support the growth of the non-mining sector in 2016. The
Development Bank of Mongolia (DBM) is expected to provide
about Mongolian Tughrik rates (MNT) 600 billion to its
commercial portfolio in 2015, and to further reduce its
commercial spending to MNT 300-400 billion in the next
couple of years due to tight financing conditions. Under
these assumptions...
Link permanente para citações: