Cambodia – Thematic Bond Issuance Feasibility Study and Roadmap
Bankers without Boundaries and Bank & Finance developed a feasibility study and roadmap for thematic bond issuance in Cambodia. This document contributes to the United Nations Development Programme’s (UNDP) support to the Royal Government of Cambodia’s (RGC) progress towards the Sustainable Development Goals (SDGs). The rapid rise of thematic bond issuances in the fixed income […]
Insights Using the Public Finances in Modern History Database: Evolution of Government Gross Debt, Interest Expense, Primary Expenditure, Total Expenditure, and Revenue Around the World
We use the Public Finances in Modern History Database assembled by Paolo Mauro, Rafael Romeu, Ariel J Binder and Asad Zaman to analyze the evolution of key public finance variables over time. Fiscal variables include government gross debt, interest expense, primary expenditure, total expenditure, and revenue, all as percentage of GDP. Using the whole database, Panel data regressions show that government […]
Excess Deaths and Economic Production’s Losses During the COVID-19 Pandemic: the Preventing Role of Vaccines and Fiscal and Financial Policies
In this week’s presentation we show that 3 years after the COVID-19 Pandemic hit the world, it has had an enormous toll in lives and economic activity: There have been more than 676 million recorded infectious COVID-19 cases and 6.9 million deaths have been officially recorded due to COVID-19. According to The Economist there have […]
Financial conditions and monetary policy: the importance of non-linear effects
In this research project, we show the importance of considering non-linearities when analyzing financial conditions and the macroeconomic-financial linkages. Conclusions include: Based on a model fit criteria, the introduction of Markov switching in parameters and variances improves the fit of a macroeconomic VAR model with financial variables, with the best fit in an unrestricted model […]
Teoría, arquitectura, indicadores financieros y evidencia del papel de los bancos públicos de desarrollo alrededor del mundo
En esta presentación proporcionamos una visión general de la teoría, la arquitectura, indicadores financieros y evidencia sobre el papel de los bancos públicos de desarrollo alrededor del mundo. La Sección I muestra que las actuales condiciones económicas adversas y la necesidad de avanzar en la Agenda 2030 de los ODS requieren ampliar el financiamiento asequible […]
Theory, architecture, financial indicators and evidence on the role of public development banks around the world
Download full document In this presentation we provide an overview of the theory, architecture, financial indicators, and evidence on the role of public development banks around the world. Section I shows that current adverse economic conditions and the need to advance in the SDG Agenda 2030 require to scale up affordable long-term financing with an […]
How do ownership and corruption affect key performance indicators of private and public banks?
Banks could have an important role in the allocation of credit and provide other useful financial services. These services could be provided by private and public banks. Are there differences in banks’ performance conditionally on private versus public ownership? Does the home-country corruption level affect the banks’ financial indicators? To provide answers to these two […]
How do ownership and corruption affect key performance indicators of national oil companies?
National oil companies could be an important source of income in their home-country, giving governments resources to provide public goods and services. Are there differences in these companies’ performance conditionally on ownership related to having publicly traded shares and therefore mixed property and some degree of external control over management? Does the home-country corruption level […]
Determinants of the public’s sector participation in an investment project and financing options
In the previous post, we showed that at an aggregate level most countries have an observed capital to output ratio below its optimal level, and a marginal productivity of capital above its replacement cost, therefore giving a rationale for further capital accumulation. The attached presentation shows that at a project-level, a country should evaluate if […]
Optimal versus observed physical capital across the world
Despite the fact that the capital to output ratio has grown in most countries across the world, the marginal productivity of capital is still high relative to its replacement cost. Therefore, the observed capital to output ratio is still below its optimal level, given a rationale for further capital deepening. The attached presentation shows the […]