Kenneth Rogoff delivers the Fifth Annual Richard H. Sabot Lecture on April 12, 2010.
After dramatically increasing their lending during the global financial crises, the international financial institutions are requesting an unusual General Capital Increase. Senior fellow Todd Moss and co-authors explain what this means—and why it’s important.
Against the backdrop of the fast approaching Millennium Development Goals deadline, World Bank shareholders have an opportunity to dramatically increase resources available for the poorest, most vulnerable countries. By better leveraging the IBRD’s balance sheet for creditworthy blend and hardened term countries, IDA could have provided up to an additional $7.5 billion for IDA-only countries during the IDA-15 period.
Financial Integration and Foreign Banks in Latin America: Do They Amplify External Financial Shocks? - Working Paper 203
This paper explores the impact of international financial integration on credit markets in Latin America. The overall effect is positive, but the foreign banks do tend to amplify the impact of foreign shocks on credit and interest rates. Important policy recommendations include ring-fencing mechanisms, early-warning systems, and the incorporation for agreements between domestic and foreign supervisors.
This paper presents lessons derived from the 2008–09 financial crisis for Latin America and developing countries in other regions that might seek economic growth in the context of greater integration to the international capital markets.
Precautionary Resources and Long-Term Development Finance: The Financial Role of the Bretton Woods Institutions after the Crisis
Kemal Derviş delivers the Fourth Annual Richard H. Sabot Lecture on June 11, 2009.