Publication:
Mobilization Effects of Multilateral Development Banks

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creativeworkseries.issn1564-698X
dc.contributor.authorBroccolini, Chiara
dc.contributor.authorLotti, Giulia
dc.contributor.authorMaffioli, Alessandro
dc.contributor.authorPresbitero, Andrea F.
dc.contributor.authorStucchi, Rodolfo
dc.date.accessioned2024-01-02T17:13:20Z
dc.date.available2024-01-02T17:13:20Z
dc.date.issued2020-02-20
dc.description.abstractThis study uses loan-level data on syndicated lending to a large sample of developing countries between 1993 and 2017 to estimate the mobilization effects of multilateral development banks (MDBs), that is, their ability to crowd-in capital from private creditors. Controlling for a large set of fixed effects, the paper shows evidence of positive and significant mobilization effects of multilateral lending on the size of bank inflows. The number of lenders and the average maturity of syndicated loans also increase. These effects are present not only on impact but last for up to three years and are not offset by a decline in bond financing. There is no evidence of anticipation effects, and the results are robust to numerous tests controlling for the role of confounding factors and unobserved heterogeneity. Finally, the results are economically sizable, indicating that MDBs can mobilize about seven dollars in bank credit over a three-year period for each dollar invested.en
dc.identifier.citationThe World Bank Economic Review
dc.identifier.doi10.1596/40812
dc.identifier.issn0258-6770 (print)
dc.identifier.issn1564-698X (online)
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/40812
dc.language.isoen_US
dc.publisherPublished by Oxford University Press on behalf of the World Bank
dc.relation.ispartofseriesWorld Bank Economic Review
dc.rightsCC BY-NC-ND 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/3.0/igo/
dc.subjectMULTILATERAL DEVELOPMENT BANKS
dc.subjectPRIVATE CAPITAL FLOWS
dc.subjectMOBILIZATION EFFECTS
dc.subjectCATALYTIC FINANCE
dc.subjectSYNDICATED LOANS
dc.titleMobilization Effects of Multilateral Development Banksen
dc.typeJournal Article
dspace.entity.typePublication
okr.associatedcontenthttps://academic.oup.com/wber/article/35/2/521/5741612 Journal website (version of record)
okr.crossref.titleMobilization Effects of Multilateral Development Banks
okr.date.disclosure2020-02-20
okr.doctypePublications & Research
okr.doctypePublications & Research::Journal Article
okr.identifier.doidoi.org/10.1093/wber/lhz049
okr.identifier.doihttp://dx.doi.org/10.1596/40812
okr.language.supporteden
okr.pagenumber521–543
okr.peerreviewAcademic Peer Review
okr.region.geographicalWorld
okr.topicMacroeconomics and Economic Growth::Economic Adjustment and Lending
okr.volume35 (2)
relation.isJournalIssueOfPublicationd521bf81-b3df-4cd0-914b-c88842ba5a68
relation.isJournalIssueOfPublication.latestForDiscoveryd521bf81-b3df-4cd0-914b-c88842ba5a68
relation.isJournalOfPublicationc41eae2f-cf94-449d-86b7-f062aebe893f
relation.isJournalVolumeOfPublication3a13adfa-b971-4f6d-9aaa-21ba96efc218
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