| Description |
1 online resource (24 pages) : illustrations |
| Series |
IMF working paper ; WP/11/255 |
|
IMF working paper ; WP/11/255.
|
| Contents |
Cover Page; Title Page; Copyright Page; Contents; I. Introduction; A. Stylized Facts on BRIC Financing; 1. Trends in BRIC Development Financing; 2. Global Concessional Development Assistance to LICs; 3. LICs: Top Ten Recipients of Development Assistance; 4. LICs: BRIC Financing and OECD Aid, by Resource and Region; II. Determinants of Financing to LICs; A. Literature Review; B. Data and Modeling Strategy; C. Empirical Results; 1. Results: The Determinants of the Amount of BRIC Financing; 2. Forecast Error Variance Decomposition of Loan Model |
|
3. Forecast Error Variance Decomposition of Concessionality ModelIII. Conclusion; Appendix; A.1 Country List; A.2 List of Variables in Dynamic Panel Analysis; A.3 Variable Definitions in the Dynamic Panel Model; A.4 Panel Unit Root Test; A.5 Model Stability Test; A.6 Robustness: Panel VAR and OLS; References; Footnotes |
| Summary |
BRICs development financing flows have increased significantly and are expected to become more prominent in the post-crisis era. We investigate the potential implications on the country-allocation of loan commitments and the degree of concessionality using a panel vector autoregression model and single equation dynamic panel estimation. We find that BRICs lend more to LICs with weaker institutions. Land-locked, resource-scarce LICs receive significantly less financing than other resource-rich LICs. The degree of concessionality is negatively correlated with the amount of loans and positively correlated with better institutional indicators suggesting that the higher the risks, the higher the required returns that BRICs expect |
| Notes |
At head of title: Strategy, Policy, and Review Department |
|
"November 2011." |
|
Title from PDF title page (IMF, viewed Nov. 21, 2011) |
| Bibliography |
Includes bibliographical references |
| Subject |
Loans, Foreign -- Developing countries -- Econometric models
|
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Economic policy
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Loans, Foreign -- Econometric models
|
| SUBJECT |
Brazil -- Economic policy.
http://id.loc.gov/authorities/subjects/sh2008000207
|
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Russia -- Economic policy
|
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India -- Economic policy.
http://id.loc.gov/authorities/subjects/sh85064896
|
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China -- Economic policy.
http://id.loc.gov/authorities/subjects/sh85024018
|
| Subject |
Brazil
|
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China
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Developing countries
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India
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Russia
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| Form |
Electronic book
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| ISBN |
1283558874 |
|
9781283558877 |
|
9781463968489 |
|
1463968485 |
|
9781463923914 |
|
1463923910 |
|
