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Global Governance and Development$
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José Antonio Ocampo

Print publication date: 2016

Print ISBN-13: 9780198785941

Published to Oxford Scholarship Online: August 2016

DOI: 10.1093/acprof:oso/9780198785941.001.0001

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Multilateral Development Banks

Multilateral Development Banks

Chapter:
(p.168) Chapter 6 Multilateral Development Banks
Source:
Global Governance and Development
Author(s):

Roy Culpeper

Stephany Griffith-Jones

Daniel Titelman

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198785941.003.0006

In recent years, the valuable role that multilateral development banks can and do play in emerging, and developed economies, has received clearer recognition in wider and ever-growing circles. This paper identifies, and discusses, four valuable functions that seem crucial for multilateral as well as regional and national development banks: a) providing counter-cyclical long-term finance, especially for supporting investment; b) supporting national development strategies; c) mobilizing increased resources, for example by leverage and blending; and d) financing the provision of public goods, such as mitigating climate change. The paper emphasizes that development banks should be conceived and analyzed as a system, where synergies and complementarities exist between multilateral, regional, and national development banks.

Keywords:   Development Banks, Investment, Development Strategy, Public Goods, Climate Change

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