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Shopping for development: Multilateral lending, shareholder composition and borrower preferences


Humphrey, Christopher; Michaelowa, Katharina (2013). Shopping for development: Multilateral lending, shareholder composition and borrower preferences. World Development, 44:142-155.

Abstract

This paper proposes two theoretical considerations regarding Multilateral development banks (MDBs). The first is that MDB activities are increasingly driven by the growing economic strength of many developing countries. The second is that categorizing MDBs according to the balance of power among shareholders helps explain why countries might prefer one or another MDB. We compare three different MDBs operating in Latin America—one dominated by nonborrowers (World Bank), another controlled by borrowing countries (Andean Development Corporation, CAF), and a third more evenly split between borrowers and nonborrowers (Inter-American Development Bank, IADB). Qualitative and statistical analysis suggests that demand factors play an important role in MDB lending.

Abstract

This paper proposes two theoretical considerations regarding Multilateral development banks (MDBs). The first is that MDB activities are increasingly driven by the growing economic strength of many developing countries. The second is that categorizing MDBs according to the balance of power among shareholders helps explain why countries might prefer one or another MDB. We compare three different MDBs operating in Latin America—one dominated by nonborrowers (World Bank), another controlled by borrowing countries (Andean Development Corporation, CAF), and a third more evenly split between borrowers and nonborrowers (Inter-American Development Bank, IADB). Qualitative and statistical analysis suggests that demand factors play an important role in MDB lending.

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13 citations in Web of Science®
15 citations in Scopus®
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64 downloads since deposited on 12 Apr 2013
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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:06 Faculty of Arts > Institute of Political Science
Dewey Decimal Classification:320 Political science
Uncontrolled Keywords:World Bank, Inter-American Development Bank, Latin America, multilateral, development, International Organization
Language:English
Date:April 2013
Deposited On:12 Apr 2013 06:51
Last Modified:05 Apr 2016 16:44
Publisher:Pergamon
ISSN:1873-5991
Publisher DOI:https://doi.org/10.1016/j.worlddev.2012.12.007
Related URLs:http://www.sciencedirect.com/science/article/pii/S0305750X12003014

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