Global Development Finance 2003: Striving for Stability in Development Finance, Volume 1
Since the late 1990s, an essential shift has taken place in the pattern of private sector financial flows to developing countries. Debt flows have fallen sharply, while equity flows—primarily in the form of foreign direct investment—have remained comparatively robust. The shift from debt to equity ought to diminish the volatility of developing countries' external finance and improve their access to technology, markets, and management expertise. However, much more needs to be done to put development finance on a stable basis.The report finds that an actual global business cycle has emerged with the continuing integration of developing countries into global production, trade, and financial flows. Economic conditions in rich countries now tend to be mirrored in developing countries through strengthened trade links, just-in-time logistics, and stronger financial relations with affiliates and suppliers in middle-income countries.'Global Development Finance 2003' is unique in its depth of coverage of the issues related to international development finance. By putting all development-related flows in a consistent framework, the publication will allow government officials, economists, investors, financial consultants, academics, bankers, and the entire development community to better understand, manage, and promote the key challenges of financing development.'Global Development Finance 2003, Vol I: Analysis and Statistical Appendix' is the World Bank's annual review of recent trends in and prospects for financial flows to developing countries. It also contains the World Bank's projections of the global outlook in view of the current global geopolitical uncertainties.
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Arab Rep Argentina arrears Asia and Pacific assets average Bank debt restructurings bilateral billion of maturities billions of dollars bonds borrowers Brazil buyback capital flows Caribbean Central Asia China collective action clauses corporate creditors debt flows debt relief debtors default developing countries domestic donors East and North East Asia economic emerging markets Europe and Central export FDI flows figure firms flows to developing forecast foreign funds Global Development Finance HIPC income Indonesia interest rates investment investors July 83 June Latin America loans Malaysia maturities in January ment Menu Menu Mexico Middle East middle-income countries migration North Africa OECD Paris Club payments percent of GDP percentage policies profit reduced region remittances Republic Rescheduling agreement risk Russian Federation SDRM sector Sept short-term Source South Asia sovereign Sub-Saharan Africa Table tion workers World Bank