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Issues in Assessing the Impact of Project and Sector Adjustment Lending

dc.contributor.authorIfzal Ali
dc.date.accessioned2015-03-18T12:25:44Z
dc.date.available2015-03-18T12:25:44Z
dc.date.issued1990-12-15
dc.identifier.urihttp://hdl.handle.net/11540/3081
dc.description.abstractThe paper deals wich some conceptual and analytical issues in the area of international development financing. The major lending modalities of the multilateral financial institutions (HFIs) include project and adjustment lending. While project lending could be viewed as the modality for augmenting investment, the role of adjustment lending would be to facilitate adjustment of policies and institutions in developing countries. The purpose of this paper is to highlight the major conceptual issues in assessing the impact of project and adjustment lending focusing on the areas of commonality and points of departure in the two modalities. No attempt is made to infer implications for the procedures and policies of the HFIs. At the outset, a brief review of the evolution of project and adjustment lending would be instructive. Imperfections in the world capital markets led to the initial impetus for lending by the HFIs in developing countries for sound investment purposes. Lending through project loans with sufficiently high rates of return to service the loan and contribute to economic growth was advocated for two reasons. First, project loans were considered a good conduit for the transfer of technology to developing countries without adequate technical capacity to plan and execute projects. Second, capital accumulation was viewed as crucial to increasing growth rates. In the 1970s, it was recognized chat some project investments would not yield their potential rates of return without policy reforms. Poor policy environments were not conducive to effective operations of projects. For example, the crucial link between public utility pricing and project profitability was recognized and addressed through policy dialogue on subsectoral issues. Suggestions for policy reforms were limited to addressing issues related to project viability.
dc.languageEnglish
dc.publisherAsian Development Bank
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.titleIssues in Assessing the Impact of Project and Sector Adjustment Lending
dc.typeReports
dc.subject.expertUrban Development Finance
dc.subject.expertTrade Finance
dc.subject.expertSmall Business Finance
dc.subject.expertRural Finance
dc.subject.expertRoundtable on International Trade and Finance
dc.subject.expertRegional Development Finance
dc.subject.expertPublic Service Finance
dc.subject.expertPublic Finance
dc.subject.expertProject Finance
dc.subject.expertPrivate Finance
dc.subject.expertNonbank Financing
dc.subject.expertNon-Bank Financial Institutions
dc.subject.expertMunicipal Finance
dc.subject.expertLocal Government Finance
dc.subject.expertLocal Currency Financing
dc.subject.expertLimited Resource Financing
dc.subject.expertInternational Financial Institutions
dc.subject.expertInfrastructure Financing
dc.subject.expertIndustrial Finance
dc.subject.expertGovernment Financial Institutions
dc.subject.expertGovernment Finance
dc.subject.expertFinancing of Infrastructure
dc.subject.expertFinancial Sector Development
dc.subject.expertFinancial Regulation
dc.subject.adbTaxation
dc.subject.adbPublic Accounting
dc.subject.adbNational Budget
dc.subject.adbMunicipal Bonds
dc.subject.adbLocal Government
dc.subject.adbLocal Taxes
dc.subject.adbInternational Monetary Relations
dc.subject.adbInternational Financial Market
dc.subject.adbInternational Banking
dc.subject.adbCentral Banks
dc.subject.adbBusiness Financing
dc.subject.adbCapital Resources
dc.subject.adbBudgetary Policy
dc.subject.adbCapital Needs
dc.subject.adbCorporate Divestiture
dc.subject.adbCapital Instruments
dc.subject.adbPension Funds
dc.subject.adbInsurance Companies
dc.subject.adbBanks
dc.subject.adbPortfolio Management
dc.subject.adbFiscal Administration
dc.subject.adbEconomics of Education
dc.subject.adbDevelopment Banks
dc.subject.naturalUse tax
dc.subject.naturalTaxing power
dc.subject.naturalState of taxation
dc.subject.naturalTax-sales
dc.subject.naturalTax revenue estimating
dc.subject.naturalTax planning
dc.subject.naturalSpendings tax
dc.subject.naturalSpecial assessments
dc.subject.naturalTax administration and procedure
dc.subject.naturalSales tax
dc.subject.naturalReal property and taxation
dc.subject.naturalProgressive taxation
dc.subject.naturalEffect of taxation on land use
dc.subject.naturalEffect of taxation on labor supply
dc.subject.naturalIntergovernmental tax relations
dc.subject.naturalInheritance and transfer tax
dc.subject.naturalEnergy tax
dc.title.seriesEDRC Staff Paper Series
dc.title.volume53
dc.contributor.imprintAsian Development Bank
oar.themeFinance
oar.adminregionAsia and the Pacific Region
oar.countryBangladesh
oar.countryBhutan
oar.countryIndia
oar.countryMaldives
oar.countryNepal
oar.countrySri Lanka
oar.countryBrunei Darussalam
oar.countryCambodia
oar.countryIndonesia
oar.countryLao People's Democratic
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.countryCook Islands
oar.countryFiji Islands
oar.countryKiribati
oar.countryMarshall Islands
oar.countryFederated States of Micronesia
oar.countryNauru
oar.countryPalau
oar.countryPapua New Guinea
oar.countrySamoa
oar.countrySolomon Islands
oar.countryTimor-Leste
oar.countryTonga
oar.countryTuvalu
oar.countryVanuatu
oar.countryAfghanistan
oar.countryArmenia
oar.countryAzerbaijan
oar.countryGeorgia
oar.countryKazakhstan
oar.countryKyrgyz Republic
oar.countryPakistan
oar.countryTajikistan
oar.countryTurkmenistan
oar.countryUzbekistan
oar.countryPeople's Republic of China
oar.countryHong Kong
oar.countryChina
oar.countryRepublic of Korea
oar.countryMongolia
oar.countryTaipei,China
oar.identifierOAR-002985
oar.authorAli, Ifzal
oar.importtrue
oar.googlescholar.linkpresenttrue


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