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 […]
Fundamentals of Bonds Markets
Government securities could allow for a better allocation of financial resources and strengthen the government capacity to support the development process, while providing an investment opportunity to savers. In addition, government securities creates reference prices for the development of the private sector domestic debt market. The following presentation, that is based on Frederic Mishkin and […]
Yield curves
A yield curve provides information about prevailing interest rates for debt securities of different tenors (say one month, three months, one year, ten years, etc.) at a particular point in time (say today or six months ago). Usually, a yield curve reports information from a single issuer, say a country’s Treasury, where factors affecting the […]
Evolution of central government debt instruments around the world 1995 – 2021
Government borrowing could respond to intertemporal allocation of public resources to smooth expenditure, investment, and taxation. It allows expediting the investment process to foster economic growth and helps in economic stabilization. According to Eichengreen et al. (2019), sovereign debt has a long history with evolving nature and dynamics. Debt before the 19th century was mainly […]
How did net creditor and net debtor countries perform between 2019 and 2021?
The net international investment position (NIIP) provides an aggregate view of the net financial position (assets minus liabilities) of a country vis-à-vis the rest of the world. During the 2019 – 2021 period, NIIP has exhibited important changes with many of the main net creditors (as Japan, Germany, Hong Kong, Norway, Singapore, Netherlands, Switzerland, and Canada) […]