External Finance and the Role of Multilateral Financial Institutions in South Asia: Changing Patterns, Prospects and Challenges
Lee, Jungsoo | November 1991
Abstract
The paper analyzes the changing pattern and future prospects of external finance to South Asia and reviews the role of external finance, particularly that of multilateral financial institutions, in the economic development in South Asia. South Asian countries have relied heavily on external finance as their domestic saving rates have been much lower than their investment rates. External financial flows to South Asian countries generalLy have been official development assistance (ODA). Although ODA still accounts for the majority of financial flows to South Asia, its share in total net flows declined sharply. The terms and conditions of external finance to South Asia worsened as the share of ODA declined and that of private flows increased. At the same time, the external debt situation in these countries deteriorated significantly during the 1980s. South Asian countries will need an increasing amount of concessional aid to meet their ever rising development challenges: poverty alleviation, human resource development, environmental protection, private sector development, and structural adjustment. The less promising prospe.cts for the global supply of external finance justify the need for ari increase in the role of multilateral financial institutions.
Citation
Lee, Jungsoo. 1991. External Finance and the Role of Multilateral Financial Institutions in South Asia: Changing Patterns, Prospects and Challenges. © Asian Development Bank. http://hdl.handle.net/11540/3076. License: CC BY 3.0 IGO.Keywords
Urban Development Finance
Trade Finance
Small Business Finance
Rural Finance
Roundtable on International Trade and Finance
Regional Development Finance
Public Service Finance
Public Finance
Project Finance
Private Finance
Nonbank Financing
Non-Bank Financial Institutions
Municipal Finance
Local Government Finance
Local Currency Financing
Limited Resource Financing
International Financial Institutions
Infrastructure Financing
Industrial Finance
Government Financial Institutions
Government Finance
Financing of Infrastructure
Financial Sector Development
Financial Regulation
Taxation
Public Accounting
National Budget
Municipal Bonds
Local Government
Local Taxes
International Monetary Relations
International Financial Market
International Banking
Central Banks
Business Financing
Capital Resources
Budgetary Policy
Capital Needs
Corporate Divestiture
Capital Instruments
Pension Funds
Insurance Companies
Banks
Portfolio Management
Fiscal Administration
Economics of Education
Development Banks
Use tax
Taxing power
State of taxation
Tax-sales
Tax revenue estimating
Tax planning
Spendings tax
Special assessments
Tax administration and procedure
Sales tax
Real property and taxation
Progressive taxation
Effect of taxation on land use
Effect of taxation on labor supply
Intergovernmental tax relations
Inheritance and transfer tax
Energy tax
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