{
  "title": "Determinants of Development Financing Flows From Brazil, Russia, India, and China to Low-Income Countries",
  "publication": "IMF Working Papers, November 1, 2011",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/determinants-of-development-financing-flows-from-brazil-russia-india-and-china-to-low-income-25331",
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  "summary": "BRICs development financing flows have increased significantly and are expected to become more prominent in the post-crisis era.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Author: Nkunde Mwase\n- Date: November 1, 2011\n- Series: Working Paper No. 2011/255\n- Issue: 255\n- Volume: 2011\n- Pages: 24\n- DOI: https://doi.org/10.5089/9781463923914.001\n- ISBN: 9781463923914\n- ISSN: 1018-5941"
    },
    {
      "heading": "Research question and methodology",
      "content": "- Objective: Investigate implications of BRICs development financing on country-allocation of loan commitments and degree of concessionality to Low-Income Countries (LICs).\n- Methods used:\n  - Panel vector autoregression (Panel VAR) model.\n  - Single equation dynamic panel estimation."
    },
    {
      "heading": "Key findings",
      "content": "- BRICs development financing flows have increased significantly and are expected to become more prominent in the post-crisis era.\n- BRICs lend more to LICs with weaker institutions.\n- Land-locked, resource-scarce LICs receive significantly less financing than other resource-rich LICs.\n- The degree of concessionality:\n  - Is negatively correlated with the amount of loans.\n  - Is positively correlated with better institutional indicators.\n  - Interpretation: the higher the risks, the higher the required returns that BRICs expect."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subjects: Concessional external borrowing, Development assistance, Exports, External debt, Financial institutions, Foreign aid, International trade, Loans, National accounts, Personal income.\n- Keywords: Africa, Aid, Asia and Pacific, BRIC development financing data, BRIC financing, BRIC loan financing, BRICs, Caribbean, Concessional external borrowing, Concessionality, Development assistance, development financing data, Exports, financing, loan commitment, Loans, Low-Income Countries, Middle East and Central Asia, OECD ODA commitment data, Pacific Islands, Panel OLS, Panel VAR, Personal income, WP"
    },
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      "content": "- Format available: PDF (Download PDF indicated on landing page).\n- Additional actions available on landing page: Visit IMF eLibrary, Subscribe to IMF Publications Newsletter, Order a Print Copy, Create Citation.\n\nSource: IMF Working Paper — Nkunde Mwase, \"Determinants of Development Financing Flows From Brazil, Russia, India, and China to Low-Income Countries\", Working Paper No. 2011/255, November 1, 2011.\n\n---\n\n Content in this bundle\n\n- wp11255\n  - wp11255 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp11255 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/determinants-of-development-financing-flows-from-brazil-russia-india-and-china-to-low-income-25331"
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    "Authors: Nkunde Mwase",
    "Published: November 1, 2011",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781463923914.001",
    "Author: Nkunde Mwase",
    "Date: November 1, 2011",
    "Series: Working Paper No. 2011/255",
    "Issue: 255",
    "Volume: 2011",
    "Pages: 24",
    "DOI: https://doi.org/10.5089/9781463923914.001",
    "ISBN: 9781463923914",
    "ISSN: 1018-5941",
    "Objective: Investigate implications of BRICs development financing on country-allocation of loan commitments and degree of concessionality to Low-Income Countries (LICs).",
    "Methods used:",
    "BRICs development financing flows have increased significantly and are expected to become more prominent in the post-crisis era.",
    "BRICs lend more to LICs with weaker institutions.",
    "Land-locked, resource-scarce LICs receive significantly less financing than other resource-rich LICs.",
    "The degree of concessionality:",
    "Subjects: Concessional external borrowing, Development assistance, Exports, External debt, Financial institutions, Foreign aid, International trade, Loans, National accounts, Personal income.",
    "Keywords: Africa, Aid, Asia and Pacific, BRIC development financing data, BRIC financing, BRIC loan financing, BRICs, Caribbean, Concessional external borrowing, Concessionality, Development assistance, development financing data, Exports, financing, loan commitment, Loans, Low-Income Countries, Middle East and Central Asia, OECD ODA commitment data, Pacific Islands, Panel OLS, Panel VAR, Personal income, WP",
    "Format available: PDF (Download PDF indicated on landing page).",
    "Additional actions available on landing page: Visit IMF eLibrary, Subscribe to IMF Publications Newsletter, Order a Print Copy, Create Citation.",
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