Multilateral development banks (MDBs) have a critical role to play in filling global infrastructure gaps as well as achieving the objectives of Sustainable Development Goals (SDGs) and the Paris Climate Agreement. The MDB business model allows development banks to borrow funds from capital markets at relatively cheaper rates than what could be obtained by sovereign […]
The 2017 update of the China’s Global Energy Finance (CGEF) Database shows China’s two global policy banks, the China Development Bank (CDB) and the Export-Import Bank of China (CHEXIM), are becoming the largest sources of energy finance for governments across the world. The interactive database, managed by the Boston University Global Development Policy Center, tracks […]
There is a sense of urgency in emerging market and developing countries, and Latin America in particular, for international development banks to generate a pipeline of infrastructure projects to reboot lagging economies and meet broader sustainable development goals. In meeting those goals, it is also important to ensure such efforts are socially inclusive and environmentally […]
In 2016, Latin America and the Caribbean’s (LAC) economic relationship with China showed little change. Exports were flat, while investment and finance fell slightly. However, one sector in particular reinforced its centrality in all three major channels: extraction. China’s interest in LAC as a source of extractive raw materials has remained, even as other […]
How has China expanded into global energy markets? In addition to the rising volume of energy commodities the country sources from all over the world as the world’s largest consumer, evidence of China’s expanding energy footprint has been mounting on two fronts over the past 15 years. First, and contrary to the conventional wisdom, China […]
In just over a decade, Chinese policy banks have emerged as global leaders in development finance in general and in finance for energy projects in developing country governments in particular. China has founded or co-founded two new multilateral development banks (MDBs) and at least 13 regional and bilateral funds that will increase Chinese development finance […]
Development banks have a unique role to play in Latin America and the Caribbean (LAC) and in emerging market and developing countries across the globe. Development banks seek to correct key market and government failures and crowd-in private sector economic activity into areas such as infrastructure and cleaner energy technologies, as well as into policy […]
China experienced significant volatility in its housing market from 2005-2013. Economists analyzing the determinants of volatility in these markets find that the bubble was largely driven by factors specific to the Chinese economy and Chinese economic policy. In a 2015 working paper, Yuan Tian and Kevin P. Gallagher examine the extent to which short-term capital […]
The re-emergence of China in the last part of the 20th century is having multiple impacts on a global scale. There has been increasing literature on the domestic impacts of China’s rise and on its role in Latin America and the Caribbean. However, there have been few analyses or attempts at understanding how China’s new […]
In Ruling Capital: Emerging Markets and the Re-regulation of Cross-Border Finance, Kevin P. Gallagher demonstrates how several emerging markets and developing countries (EMDCs) managed to re-regulate cross-border financial flows in the wake of the global financial crisis, despite the political and economic difficulty of doing so at the national level. Gallagher also shows that some […]