Description: Innovative Financing for Development

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Innovative Financing for Development

In the run-up to the 'follow-up international conference on financing for development' to be held in Doha from November 28 to December 2, 2008, it seems particularly timely to collect in one book writings on the various market-based innov...

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Bibliographic Details
Main Authors:	Ketkar, Suhas, Ratha, Dilip
Language:	English en_US
Published:	Washington, DC : World Bank 2012
Subjects:	ACCOUNTING ASSET CLASS BACKED SECURITIES BALANCE-OF-PAYMENTS CRISIS BANK CREDITS BANK DEBT BANK LENDING BANK LOANS BANKRUPTCY BANKRUPTCY LAWS BASIS POINTS BENEFICIARY BOND BOND FINANCING BOND FUND BOND INVESTORS BOND ISSUANCE BOND ISSUE BOND MARKET BOND OPTION BOND SALES BONDHOLDERS BONDS BORROWER BORROWING COSTS BUYBACKS CAPITAL ASSET PRICING CAPITAL FLOWS CAPITAL OUTFLOWS CDS CENTRAL BANK CERTIFICATES OF DEPOSIT CLAIMANT COLLATERAL COLLECTIVE ACTION COLLECTIVE ACTION CLAUSES CONTINGENT LIABILITIES COUNTRY DEBT COUNTRY RISK COUPON COUPON BONDS COUPON PAYMENTS COUPONS CREDIT CARD CREDIT CEILING CREDIT ENHANCEMENT CREDIT HISTORY CREDIT RATING CREDIT RATING AGENCIES CREDIT RATINGS CREDIT RISK CREDIT RISKS CREDITOR CREDITORS CURRENCY CRISIS DEBT BURDEN DEBT CAPITAL DEBT CONTRACTS DEBT CRISES DEBT CRISIS DEBT DEFAULT DEBT FLOWS DEBT FORGIVENESS DEBT ISSUANCE DEBT ISSUES DEBT OBLIGATIONS DEBT REDUCTION DEBT RELIEF DEBT RESTRUCTURING DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICING DEBT STOCK DEBT-EQUITY DEBT-EQUITY SWAP DEBT-EQUITY SWAPS DEBTOR DEBTOR COUNTRIES DEBTORS DEBTS DEFAULTS DEPOSITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BONDS DEVELOPMENT FINANCE DISCLOSURE REQUIREMENTS DISCOUNT BONDS ECONOMIC DEVELOPMENT ECONOMIC POLICIES EMERGING MARKETS EQUITY FLOWS EQUITY STAKES EXCHANGE COMMISSION EXPENDITURES EXTERNAL FINANCE EXTERNAL FINANCES FACE VALUE FALLEN ANGELS FEDERAL DEPOSIT INSURANCE FINANCIAL CRISIS FINANCIAL FLOWS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL STRESS FINANCIAL STRUCTURE FINANCING REQUIREMENTS FISCAL POLICIES FIXED INCOME FLOATING INTEREST RATES FOREIGN CAPITAL FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN DEBT FOREIGN DIRECT INVESTMENT GLOBAL BONDS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GLOBAL DEVELOPMENT FINANCE GLOBAL ECONOMY GROSS DOMESTIC PRODUCT HEDGE FUNDS HOST COUNTRY IMMUNIZATION INCOME INSTRUMENTS INDEBTED COUNTRIES INDEXED BONDS INFRASTRUCTURE DEVELOPMENT INITIAL PUBLIC OFFERING INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE COMPANIES INSURANCE CORPORATION INSURANCE PREMIUM INSURANCE PREMIUMS INTELLECTUAL PROPERTY INTEREST COSTS INTERNATIONAL BANK INTERNATIONAL BANKS INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL DEBT INTERNATIONAL DEVELOPMENT INTERNATIONAL ECONOMICS INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL FINANCIAL SYSTEM INVESTMENT BANKS INVESTMENT RATE INVESTOR BASE IPO ISSUANCE JUNK BOND JUNK BONDS LEGAL FRAMEWORK LIFE INSURANCE LIFE INSURANCE POLICIES LIQUIDITY LOAN LOAN MARKET LOCAL CURRENCY MARKET ACCESS MARKET INTEREST RATES MARKET VALUES MATURITY MICROFINANCE MICROFINANCE INSTITUTIONS MONETARY FUND MORTGAGE MORTGAGE LOAN MUTUAL FUNDS OIL PRICE OIL PRICES OUTSTANDING LOANS PAR BOND PAR BONDS PARTIAL GUARANTEES PARTIAL RISK PENSION PENSION FUNDS PERFORMANCE RISK PERFORMANCE RISKS PERMANENT DEBT POLITICAL STABILITY PORTFOLIO PREPAYMENT PRICE RISK PRIVATE CAPITAL PRIVATE DEBT PRIVATE FINANCING PRIVATE INVESTORS PRIVATE LENDERS PUBLIC FINANCE RELIANCE ON SHORT-TERM DEBT REMITTANCE REMITTANCES RENEGOTIATIONS REPAYMENT RESERVES RETURN RETURNS RISK MANAGEMENT RISK OF DEFAULT SAFETY NET SECONDARY MARKET SECURITIES SETTLEMENT SHORT-TERM CAPITAL SMALL BUSINESS SOVEREIGN BOND SOVEREIGN BONDS SOVEREIGN DEBT SOVEREIGN DEBT RESTRUCTURING SOVEREIGN RATING SOVEREIGN RATINGS SOVEREIGN RISK STATE BANK TAX TELECOMMUNICATIONS TRADE FINANCE TRADING TRANSACTION TRANSFER RISKS TRANSPARENCY TREASURIES TREASURY TREASURY BONDS TREASURY INFLATION VALUATION VARIABLE RATE WARRANTS
Online Access:	http://documents.worldbank.org/curated/en/2008/09/9890652/innovative-financing-development http://hdl.handle.net/10986/6549

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Summary:	In the run-up to the 'follow-up international conference on financing for development' to be held in Doha from November 28 to December 2, 2008, it seems particularly timely to collect in one book writings on the various market-based innovative methods of raising development finance. Although developing countries are well advised to use caution in incurring large foreign debt obligations, especially of short duration, there is little doubt that poor countries can benefit from cross-border capital whether channeled through the public or private sectors. The papers in this book focus on various recent innovations in international finance that allow developing countries to tap global capital markets in times of low risk appetite, thereby reducing their vulnerability to booms and busts in capital flows. Debt issues backed by future hard currency receivables and diaspora bonds fall into the category of mechanisms that are best described as foul-weather friends. By linking the rate on interest to a country's ability to pay, Gross Domestic Product (GDP)-indexed bonds reduce the cyclical vulnerabilities of developing countries. Furthermore, these innovative mechanisms perm lower-cost and longer-term borrowings in international capital markets. Not only do the papers included in this book describe the innovative financing mechanisms; they also quantify the mechanisms' potential size and then identify the constraints on their use. Finally, the papers recommend concrete measures that the World Bank and other regional development banks can implement to alleviate these constraints. Economists have analyzed the feasibility and potential of using various tax-based sources of development finance in the context of meeting the millennium development goals. This has given rise to a new discipline of global public finance. This book complements those efforts by focusing on market based mechanisms for raising development finance.