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
CONICET Digital (CONICET)
Institución
Consejo Nacional de Investigaciones Científicas y Técnicas
OAI Identificador
oai:ri.conicet.gov.ar:11336/201571
Acceder
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oai_identifier_str oai:ri.conicet.gov.ar:11336/201571
network_acronym_str CONICETDig
repository_id_str 3498
network_name_str CONICET Digital (CONICET)
spelling 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 Técnicas2025-10-22T11:04:12Zoai: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:34982025-10-22 11:04:12.803CONICET 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
reponame_str 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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score 12.982451

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