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    Infrastructure Finance and Financial Sector Development

    Ray, Shubhomoy | March 2015
    Abstract
    Investment in infrastructure for increasing trade and connectivity in South Asia and Southeast Asia has been impacted by a reduction in commercial bank participation in project financing, which has significantly increased the role of multilateral financial institutions and export credit agencies. The financing model needs to change to more sustainable local market and local currency financing by harnessing domestic savings, and this will be crucial if the region is to procure investments of an estimated $3.6 trillion by 2020 for financing of its infrastructure and connectivity projects. Increased connectivity between South and Southeast Asia can play an important role in improving efficiency and productivity by having more efficient industries based on comparative advantage, enlarging the overall market size, and increasing market access. However, such economic integration faces a multitude of challenges relating to cross-border infrastructure links, weak trade facilitation, shortages of infrastructure financing, non-tariff barriers, restrictions on foreign direct investment, and weak institutional coordination. Improvement in these issues would require large-scale public and private sector investment, supplemented by commercially viable credit. This study analyzes the means and constraints in funding cross-border connectivity projects. Using the most recent data from sources including the World Bank, ADB, and other financing and research institutions, barriers in financing cross-border projects are explored and analyzed with the help of case studies. This research brings to the fore the potential benefits of regional funding platforms and the role of multilaterals in resolving such barriers.
    Citation
    Ray, Shubhomoy. 2015. Infrastructure Finance and Financial Sector Development. © Asian Development Bank Institute. http://hdl.handle.net/11540/9640.
    Keywords
    Regionalism
    Regional Economy
    Regional Trading Arrangements
    Aid And Development
    Asian Development Bank
    Comprehensive Development Framework
    Development Cooperation
    Development Management
    Development Planning
    Development Strategies
    Development In East Asia
    Development Planning
    Development Research
    Green revolution
    Government Policy
    Regional Organization
    Regional Plans
    Rural planning
    Aid coordination
    Industrial projects
    Infrastructure projects
    Natural resources policy
    Educational development
    Development strategy
    Development models
    Economic development
    Interregionalism
    Regional economics
    Regional planning
    Communication in rural development
    Communication in community development
    Economic development projects
    Development banks
    Economic forecasting
    Environmental auditing
    Cumulative effects assessment
    Human rights and globalization
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    Citable URI
    http://hdl.handle.net/11540/9640
    Metadata
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    adbi-wp522.pdf (1.284Mb)
    Author
    Ray, Shubhomoy
    Theme
    Regional
    Development
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise