Exchange rate and balance of payment crisis risks in the global development finance architecture
- Autores
- Schclarek Curutchet, Alfredo; Xu, Jiajun
- Año de publicación
- 2022
- Idioma
- inglés
- Tipo de recurso
- artículo
- Estado
- versión publicada
- Descripción
- We analyze exchange rate and balance of payment crisis constraints when multilateral development banks (MDBs) lend, in hard currency, to national development banks (NDBs), for NDBs to onlend to investment projects. Investment projects may be “export-enhancing” (EXIPs), which generate hard currency, or “domestic-oriented” (DOIPs), which do not generate hard currency. To increase the proportion of onlending to DOIPs, MDBs should increase their refinancing to NDBs. Furthermore, MDBs have to reduce the interest rate charged on NDBs. In addition, high return EXIPs need to be financed, and more locally-produced supplies, in contrast with imported supplies, should be fostered.
Fil: Schclarek Curutchet, Alfredo. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Departamento de Economía; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Córdoba; Argentina
Fil: Xu, Jiajun. Peking University; China - Materia
-
BALANCE OF PAYMENT CRISIS RISK
DEVELOPMENT BANKS
EXCHANGE RATE RISK
EXPORT-ENHANCING
REFINANCING - Nivel de accesibilidad
- acceso abierto
- Condiciones de uso
- https://creativecommons.org/licenses/by-nc-nd/2.5/ar/
- Repositorio
- Institución
- Consejo Nacional de Investigaciones Científicas y Técnicas
- OAI Identificador
- oai:ri.conicet.gov.ar:11336/201571
Ver los metadatos del registro completo
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Exchange rate and balance of payment crisis risks in the global development finance architectureSchclarek Curutchet, AlfredoXu, JiajunBALANCE OF PAYMENT CRISIS RISKDEVELOPMENT BANKSEXCHANGE RATE RISKEXPORT-ENHANCINGREFINANCINGhttps://purl.org/becyt/ford/5.2https://purl.org/becyt/ford/5We analyze exchange rate and balance of payment crisis constraints when multilateral development banks (MDBs) lend, in hard currency, to national development banks (NDBs), for NDBs to onlend to investment projects. Investment projects may be “export-enhancing” (EXIPs), which generate hard currency, or “domestic-oriented” (DOIPs), which do not generate hard currency. To increase the proportion of onlending to DOIPs, MDBs should increase their refinancing to NDBs. Furthermore, MDBs have to reduce the interest rate charged on NDBs. In addition, high return EXIPs need to be financed, and more locally-produced supplies, in contrast with imported supplies, should be fostered.Fil: Schclarek Curutchet, Alfredo. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Departamento de Economía; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Córdoba; ArgentinaFil: Xu, Jiajun. Peking University; ChinaElsevier2022-07info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/resource_type/c_6501info:ar-repo/semantics/articuloapplication/pdfapplication/pdfhttp://hdl.handle.net/11336/201571Schclarek Curutchet, Alfredo; Xu, Jiajun; Exchange rate and balance of payment crisis risks in the global development finance architecture; Elsevier; Journal of International Financial Markets, Institutions and Money; 79; 7-2022; 1-191042-4431CONICET DigitalCONICETenginfo:eu-repo/semantics/altIdentifier/doi/10.1016/j.intfin.2022.101574info:eu-repo/semantics/altIdentifier/url/https://www.sciencedirect.com/science/article/pii/S1042443122000580info:eu-repo/semantics/openAccesshttps://creativecommons.org/licenses/by-nc-nd/2.5/ar/reponame:CONICET Digital (CONICET)instname:Consejo Nacional de Investigaciones Científicas y Técnicas2025-09-29T09:36:08Zoai:ri.conicet.gov.ar:11336/201571instacron:CONICETInstitucionalhttp://ri.conicet.gov.ar/Organismo científico-tecnológicoNo correspondehttp://ri.conicet.gov.ar/oai/requestdasensio@conicet.gov.ar; lcarlino@conicet.gov.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:34982025-09-29 09:36:08.743CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicasfalse |
dc.title.none.fl_str_mv |
Exchange rate and balance of payment crisis risks in the global development finance architecture |
title |
Exchange rate and balance of payment crisis risks in the global development finance architecture |
spellingShingle |
Exchange rate and balance of payment crisis risks in the global development finance architecture Schclarek Curutchet, Alfredo BALANCE OF PAYMENT CRISIS RISK DEVELOPMENT BANKS EXCHANGE RATE RISK EXPORT-ENHANCING REFINANCING |
title_short |
Exchange rate and balance of payment crisis risks in the global development finance architecture |
title_full |
Exchange rate and balance of payment crisis risks in the global development finance architecture |
title_fullStr |
Exchange rate and balance of payment crisis risks in the global development finance architecture |
title_full_unstemmed |
Exchange rate and balance of payment crisis risks in the global development finance architecture |
title_sort |
Exchange rate and balance of payment crisis risks in the global development finance architecture |
dc.creator.none.fl_str_mv |
Schclarek Curutchet, Alfredo Xu, Jiajun |
author |
Schclarek Curutchet, Alfredo |
author_facet |
Schclarek Curutchet, Alfredo Xu, Jiajun |
author_role |
author |
author2 |
Xu, Jiajun |
author2_role |
author |
dc.subject.none.fl_str_mv |
BALANCE OF PAYMENT CRISIS RISK DEVELOPMENT BANKS EXCHANGE RATE RISK EXPORT-ENHANCING REFINANCING |
topic |
BALANCE OF PAYMENT CRISIS RISK DEVELOPMENT BANKS EXCHANGE RATE RISK EXPORT-ENHANCING REFINANCING |
purl_subject.fl_str_mv |
https://purl.org/becyt/ford/5.2 https://purl.org/becyt/ford/5 |
dc.description.none.fl_txt_mv |
We analyze exchange rate and balance of payment crisis constraints when multilateral development banks (MDBs) lend, in hard currency, to national development banks (NDBs), for NDBs to onlend to investment projects. Investment projects may be “export-enhancing” (EXIPs), which generate hard currency, or “domestic-oriented” (DOIPs), which do not generate hard currency. To increase the proportion of onlending to DOIPs, MDBs should increase their refinancing to NDBs. Furthermore, MDBs have to reduce the interest rate charged on NDBs. In addition, high return EXIPs need to be financed, and more locally-produced supplies, in contrast with imported supplies, should be fostered. Fil: Schclarek Curutchet, Alfredo. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Departamento de Economía; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Córdoba; Argentina Fil: Xu, Jiajun. Peking University; China |
description |
We analyze exchange rate and balance of payment crisis constraints when multilateral development banks (MDBs) lend, in hard currency, to national development banks (NDBs), for NDBs to onlend to investment projects. Investment projects may be “export-enhancing” (EXIPs), which generate hard currency, or “domestic-oriented” (DOIPs), which do not generate hard currency. To increase the proportion of onlending to DOIPs, MDBs should increase their refinancing to NDBs. Furthermore, MDBs have to reduce the interest rate charged on NDBs. In addition, high return EXIPs need to be financed, and more locally-produced supplies, in contrast with imported supplies, should be fostered. |
publishDate |
2022 |
dc.date.none.fl_str_mv |
2022-07 |
dc.type.none.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion http://purl.org/coar/resource_type/c_6501 info:ar-repo/semantics/articulo |
format |
article |
status_str |
publishedVersion |
dc.identifier.none.fl_str_mv |
http://hdl.handle.net/11336/201571 Schclarek Curutchet, Alfredo; Xu, Jiajun; Exchange rate and balance of payment crisis risks in the global development finance architecture; Elsevier; Journal of International Financial Markets, Institutions and Money; 79; 7-2022; 1-19 1042-4431 CONICET Digital CONICET |
url |
http://hdl.handle.net/11336/201571 |
identifier_str_mv |
Schclarek Curutchet, Alfredo; Xu, Jiajun; Exchange rate and balance of payment crisis risks in the global development finance architecture; Elsevier; Journal of International Financial Markets, Institutions and Money; 79; 7-2022; 1-19 1042-4431 CONICET Digital CONICET |
dc.language.none.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
info:eu-repo/semantics/altIdentifier/doi/10.1016/j.intfin.2022.101574 info:eu-repo/semantics/altIdentifier/url/https://www.sciencedirect.com/science/article/pii/S1042443122000580 |
dc.rights.none.fl_str_mv |
info:eu-repo/semantics/openAccess https://creativecommons.org/licenses/by-nc-nd/2.5/ar/ |
eu_rights_str_mv |
openAccess |
rights_invalid_str_mv |
https://creativecommons.org/licenses/by-nc-nd/2.5/ar/ |
dc.format.none.fl_str_mv |
application/pdf application/pdf |
dc.publisher.none.fl_str_mv |
Elsevier |
publisher.none.fl_str_mv |
Elsevier |
dc.source.none.fl_str_mv |
reponame:CONICET Digital (CONICET) instname:Consejo Nacional de Investigaciones Científicas y Técnicas |
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CONICET Digital (CONICET) |
collection |
CONICET Digital (CONICET) |
instname_str |
Consejo Nacional de Investigaciones Científicas y Técnicas |
repository.name.fl_str_mv |
CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicas |
repository.mail.fl_str_mv |
dasensio@conicet.gov.ar; lcarlino@conicet.gov.ar |
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13.070432 |