Surges and Volatility of Private Capital Flows to Asian Developing Countries: Implications for Multilateral Development Banks
The traditional role for multilateral development banks (MDBs) has to be further refocused and expanded to cover mobilization of private sector resources, both external and internal. In the poorer countries and in sectors where private returns are lower than social returns, however, the traditional development finance role of MDBs will continue to remain important. MDBs, together with the International Monetary Fund, could also have a role in the management of financial crises especially those that are mainly structural in nature. In such cases, the MDBs would basically complement IMF efforts in various macroeconomic areas.
- Trends Until 1996
- Sharp Reversal in 1997
- Prospects for Private Capital Flows to the ADCs
- Changed Global Context and Implications for the Development Finance Role of MDBs