Leveraging Financial Markets for Development: How KfW Revolutionized Development Finance

Peter Volberding

Informasi Dasar

21.21.3054
657
Buku - Elektronik (E-Book)
15 A

Despite exponential growth, marketized development financial instruments may now be facing their greatest existential challenge. The onset of COVID-19 and the ensuing economic downturn has revealed the potential shortcomings. Private investors have reoriented their investment portfolios towards lower-risk profiles, a trend that generally disadvantages developing countries; in fact, developing countries have registered record capital outflows that have vastly outpaced those during the 2008 Global Financial Crisis. The sudden collapse of export markets for developing country industries and SMEs has also financially strained development finance recipients and limited new opportunities. For the development banks themselves, while well-capitalized banks like KfW will be able to ride out the market turmoil, increased political pressure to focus domestically may restrict appetite for accumulating additional developing country financial risk. All of these trends potentially undermine marketized development financial instruments. While no financial instrument has yet been terminated because of COVID-19, uncertainty over their future is undoubtedly at its highest level in decades.

Within this fluid context, I believe this book provides an important window into understanding the political economy of marketized development financial instruments. It may additionally provide insights into what the future might hold for development finance, particularly as global markets are reshuffled. Yet given the complexity and breadth of development finance, this work is only one small, first step. It is my hope that this book inspires and provokes both scholars and practitioners to continue investigating these marketized development financial instruments, as well as their evolving relationship with donors, recipients, development institutions, and private investors.

Subjek

FINANCIAL ACCOUNTING
 

Katalog

Leveraging Financial Markets for Development: How KfW Revolutionized Development Finance
978-3-030-55008-0
304p.: pdf file.; 2 MB
English

Sirkulasi

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Pengarang

Peter Volberding
Perorangan
 
 

Penerbit

Springer
Switzerland
2021

Koleksi

Kompetensi

 

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