Publications /
Policy Brief

Back
Download PDF
Matchmaking Finance and Infrastructure
Authors
Otaviano Canuto
Aleksandra Liaplina
June 29, 2017
Related topics: 
Economy
Macroeconomics and regulation

The world economy – and emerging market and developing economies in particular – display a gap between infrastructure needs and its finance (Canuto, 2014). On the one hand, infrastructure investment has fallen far short of what would be necessary to support potential growth. On the other hand, abundant financial resources in world markets have been facing very low and decreasing interest rates, whereas opportunities of higher return from potential infrastructure assets are missed. Here we approach how a better match between private sector finance and infrastructure can be obtained if properly structured projects are developed, with risks and returns distributed in accordance with different incentives of stakeholders.

RELATED CONTENT

  • Download PDF
    Capital flows and emerging market economies since the global financial crisis
    Authors
    Otaviano Canuto
    January 20, 2023
    This paper was originally published as a chapter within the Book, Foreign Exchange Constraint and Developing Economies, published on January 2023 (ISBN  978 1 80088 049 8).   The decade after the global financial crisis (GFC) of 2007–2009 saw signifi- cant changes in the volume and composition of capital flows in the global economy. Portfolio investments and other non-bank financial intermediaries (NBFIs) are behind an increasing share of foreign capital flows, while bank- ing flo ...
  • Download PDF
    Macroeconomic Policy Regime Change in Advanced Economies
    Authors
    Otaviano Canuto
    January 10, 2023
    Three significant changes to the macroeconomic policy regime in advanced economies, compared to the post-global financial crisis period, have unfolded in the last two years. First, fears of a chronic insufficiency of aggregate demand as a growth deterrent prevailing after the 2008 global financial crisis, have been superseded by supply-side shocks and inflation. Second, as a result of the first change, the era of abundant and cheap liquidity provided by central banks has given way t ...
  • Download PDF
    Ciblage de l’inflation et réduction de la dette publique pour les pays émergents : une approche par effet de traitement
    Authors
    Mahmoud Arbouch
    December 30, 2022
    L’objectif de ce papier est d’essayer d’examiner si l’implémentation du cadre de ciblage de l’inflation par la banque centrale, permet une réduction de la dette publique dans les pays émergents, à travers l'effet disciplinant du ciblage sur la conduite de la politique budgétaire en général. Pour ce faire, la méthode d’évaluation d’impact utilisée est l’appariement par score de propension ou Propensity Score Matching (PSM), qui permet l’évaluation de l’effet de traitement ...
  • Download PDF
    La vulnérabilité économique : le plus grand défi de l’Afrique
    Authors
    Fahd Azaroual
    December 27, 2022
    En Afrique, le niveau de la vulnérabilité économique des pays reste élevé et représente un obstacle à la croissance économique et à la réduction de la pauvreté. Ce constat nous mène à étudier cette problématique pour un échantillon des pays africains les plus exposés aux chocs économiques. En effet, ce travail a pour objectif principal d’identifier les effets des composantes des deux indicateurs de vulnérabilité et de résilience économique sur le niveau de reve ...
  • Download PDF
    A strong dollar is contractionary for the global economy
    Authors
    Otaviano Canuto
    November 22, 2022
    The US dollar has risen dramatically in value against other currencies recently. Three channels through which factors affecting bilateral exchange rates operate have been pulling up the U.S. dollar: yield differentials, liquidity differentials, and growth differentials. The strong appreciation of the US dollar against other currencies recently reinforced the contractionary pressures present in the global economy. Ultimately, the “turn” or “pivot” of the dollar will most likely occur ...
  • Presentation Seminar: Annual Report on the Economy of Africa - Panel 2 & 3
    November 4, 2022
    Panel 2: Les Communautés Economiques Régionales : Quel apport à la résilience africaine dans un contexte de chocs multidimensionnels ? Modérateur:            Abdelaaziz Aït Ali, Manager – Département d’économie, Policy Center for the New South   Intervenant.e.s : Nezha Alaoui M’hamm...
  • Embarking on a Path of Renewal: MENA Commission on Stabilization and Growth
    Authors
    Nesreen Barakat
    Leila Baghdadi
    Ishac Diwan
    Karim El Aynaoui
    Ibrahim Elbadawi
    Alia El Mahdi
    Nada Eissa
    Mahmoud Mohieldin
    Mustapha Nabli
    Omar Razzaz
    Maha Yahya
    Co-directed by Ishac Diwan and Ibrahim Elbadawi
    October 31, 2022
    In the chaotic global post-COVID-19 economy, with the ongoing war in Ukraine, the challenge of adjusting to the global stagflation that is engulfing the world is particularly hard for the oil importing countries of the Middle East and North Africa (MENA) region. A regional commission of experts, working under the auspices of the Economic Research Forum (ERF), and the Finance for Development Lab (FDL), was asked to evaluate the macro-economic risks ahead, and to make recommendations ...