View metadata

dc.titleFollowing Public Finances: The Mirage of MDBs Countercyclicality
dc.contributor.authorAvellán, Leopoldo
dc.contributor.authorGalindo, Arturo
dc.contributor.authorLotti, Giulia
dc.contributor.orgunitOffice of Strategic Planning and Development Effectiveness
dc.date.available2020-04-20T16:00:00
dc.date.issue2020-01-31T17:00:00
dc.description.abstractThis paper investigates the co-movement of sovereign lending from multilateral development banks (MDBs) and private creditors with government expenditure. The paper finds that multilateral sovereign lending follows government expenditure and that this correlation does not change if governments are running a surplus or a deficit. This finding raises doubts on the feasibility of MDBs to be counter-cyclical, unless the governments themselves implement counter-cyclical fiscal policies.
dc.format.extent34
dc.identifier.doihttp://dx.doi.org/10.18235/0002305
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Following_Public_Finances_The_Mirage_of_MDBs_Countercyclicality.pdf
dc.language.isoen
dc.mediumAdobe PDF
dc.publisherInter-American Development Bank
dc.subjectDevelopment Bank
dc.subjectCapital Flow
dc.subjectFiscal Policy
dc.subjectPublic Expenditure
dc.subjectPublic Finance
dc.subjectPublic Debt
dc.subjectGross Domestic Product
dc.subject.jelcodeF34 - International Lending and Debt Problems
dc.subject.jelcodeF53 - International Agreements and Observance • International Organizations
dc.subject.jelcodeF44 - International Business Cycles
dc.subject.jelcodeF21 - International Investment • Long-Term Capital Movements
dc.subject.jelcodeF42 - International Policy Coordination and Transmission
dc.subject.keywordsMultilateral Development Banks;International government debt;Capital flows;Counter-cyclicality
dc.typeWorking Papers
idb.identifier.pubnumberIDB-WP-01098
idb.operationBK-C2031
Return to Publication