External finance for private sector development : appraisals and issues / edited by Matthew Odedokum.

Format:

Book

Contributor:

Odedokun, M. O. (Matthew O.)

United Nations University.

World Institute for Development Economics Research

Anne and Joseph Trachtman Memorial Book Fund.

Series:

Studies in development economics and policy

Language:

English

Subjects (All):

Investments, Foreign--Developing countries.

Investments, Foreign.

Developing countries.

Capital movements--Developing countries.

Capital movements.

Physical Description:

xxviii, 276 pages : illustrations ; 23 cm.

Place of Publication:

Houndmills, Basingstoke, Hampshire ; New York : Palgrave Macmillan, [2004]

Summary:

Unu World Institute for Development Economics Research (Unu/Wider) was established by the United Nations University as its first research and training centre and started work in Helsinki, Finland, in 1985. The purpose of the Institute is to undertake applied research and policy analysis on structural changes affecting the developing and transitional economies, to provide a forum for the advocacy of policies leading to robust, equitable and environmentally sustainable growth, and to promote capacity-strengthening and training in the field of economic and social policy-making. Its work is carried out by staff researchers and visiting scholars in Helsinki and through networks of collaborating scholars and institutions around the world.

Foreign assistance philosophy no longer favours channelling aid almost exclusively to recipients' public sector; 'a bottomless pit'. Increasing preference has been accorded by the donor multilateral development community to the private sector, regarded as the engine of growth, poverty reduction and empowerment. Donors' professed development financing objectives now centre mainly on facilitation of sustainable long-term private capital flows to developing countries to support efforts to diminish aid dependence. The book examines the practices of multilateral and bilateral donors and those of NGOs in private sector development financing, giving special attention to microfinance and micro-enterprises. It also explains the flow of foreign direct investment and why poor countries have often been bypassed, just as a framework is suggested and applied for identifying the fundamentals that drive private capital flows from developed to developing countries. Capital flight from developing countries and policies for its reversal are also examined.

Contents:

1 Foreign Financing of Developing Countries' Private Sectors: Analysis and Description of Structure and Trends / Matthew Odedokun 1

2 Comparative Appraisal of Multilateral and Bilateral Approaches to Financing Private Sector Development / Peter Gibbon, Lau Schulpen 42

3 Bilateral Official and Non-Governmental Organizations' Support for Private Sector Development / Ayodele Jimoh 92

4 Multilateral Development Banks and Private Sector Financing: The Case of IFC / George Mavrotas 124

5 Donors' Support for Microcredit as Social Enterprise: A Critical Reappraisal / Machiko Nissanke 147

6 Flow of Foreign Direct Investment in Developing Countries: A Two-part Econometric Modelling Approach / Oluyele Akinkugbe 180

7 Flight Capital and its Reversal for Development Financing / Niels Hermes, Robert Lensink, Victor Murinde 207

8 The 'Pull' and 'Push' Factors in North-South Private Capital Flows: Conceptual Issues and Empirical Estimates / Matthew Odedokun 234.

Notes:

"In association with the United Nations University/World Institute for Development Economics Research."

Includes bibliographical references and index.

Local Notes:

Acquired for the Penn Libraries with assistance from the Anne and Joseph Trachtman Memorial Book Fund.

ISBN:

1403920915

OCLC:

53130821

Online:

Contributor biographical information

Publisher description