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    Matching Risks with Instruments in Development Banks

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    Date
    2020-10
    Author
    Griffith-Jones, Stephany
    Spiegel, Shari
    Xu, Jiajun
    Carreras, Marco
    Naqvi, Natalya
    Metadata
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    Impact
    Abstract
    This paper explores how development banks should deploy appropriate financial instruments to encourage real economic risk-taking while minimizing financial engineering risks. We distinguish real economic risks from financial engineering or intermediary risks and argue that using complex financial instruments to leverage additional private financing may undermine policy steer and lead to too much risk being taken by development banks. We then explore comparative advantages of different financial instruments such as loans, guarantees, equity, and insurance in tackling risks in normal times. Then we synthesize common features of development banks’ responses to the COVID-19 crisis. Finally, we propose future research directions.
    URI
    https://opendocs.ids.ac.uk/opendocs/handle/20.500.12413/16556
    Citation
    Griffiths-Jones, S.; Spiegel, S.; Xu, J; Carreras, M. and Navqi, N. (2020) 'Matching risks with instruments in development banks,' Working Paper 7a25229b-7178-4739-9f22-c, Agence française de développement
    More details
    https://www.afd.fr/en/ressources/matching-risks-instruments-development-banks
    Rights holder
    © AFD
    Rights details
    https://www.ids.ac.uk/wp-content/uploads/2018/12/IDSOpenDocsExternalDocuments.pdf
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    • IDS Research [1598]
    • Journal Articles - External [389]

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