IDEAS home Printed from https://ideas.repec.org/a/kap/asiaeu/v15y2017i3d10.1007_s10308-016-0465-y.html
   My bibliography  Save this article

Promoting regional development bank complementarity: challenges to Asia and lessons from Europe

Author

Listed:
  • Xianbai Ji

    (Nanyang Technological University
    European Union Centre in Singapore)

Abstract

As the international development finance architecture decentralises, a plethora of regional multilateral development banks (MDBs) emerge. The institutional landscape in Asia is transforming with the establishment of the Asian Infrastructure Investment Bank (AIIB). This paper aims to shed light on the horizontal relationship between the traditional development actor, the Asian Development Bank (ADB), and the nascent AIIB. Based on the collaborative experiences of the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), this article recommends that ADB and the AIIB should form tri-partite coordination mechanism to promote cooperation, develop complementary portfolios in terms of sectoral exposure and geographical coverage and co-fund projects to catalyse greater inter-agency cooperation. The resulting synergies will stitch the two institutions into an interdependent and coherent development finance structure in Asia and beyond.

Suggested Citation

  • Xianbai Ji, 2017. "Promoting regional development bank complementarity: challenges to Asia and lessons from Europe," Asia Europe Journal, Springer, vol. 15(3), pages 261-281, September.
    • Handle: RePEc:kap:asiaeu:v:15:y:2017:i:3:d:10.1007_s10308-016-0465-y
    DOI: 10.1007/s10308-016-0465-y
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10308-016-0465-y
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s10308-016-0465-y?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Grieco, Joseph M., 1988. "Anarchy and the limits of cooperation: a realist critique of the newest liberal institutionalism," International Organization, Cambridge University Press, vol. 42(3), pages 485-507, July.
    2. William Easterly, 2002. "The cartel of good intentions: The problem of bureaucracy in foreign aid," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 5(4), pages 223-250.
    3. Maaike Okano-Heijmans, 2015. "Untapped potential: time to rethink European engagement with the Asian Development Bank," Asia Europe Journal, Springer, vol. 13(2), pages 211-221, June.
    4. Stephany Griffith-Joneswith & David Griffith-Jo & Dagmar Hertova, 2008. "Enhancing the Role of Regional Development Banks," G-24 Discussion Papers 50, United Nations Conference on Trade and Development.
    5. Fernando Prada, 2014. "World Bank, Inter-American Development Bank, and subregional development banks in Latin America: dynamics of a system of multilateral development banks," Chapters, in: Masahiro Kawai & Peter J. Morgan & Pradumna B. Rana (ed.), New Global Economic Architecture, chapter 10, pages 215-248, Edward Elgar Publishing.
    6. Vikram Nehru, 2014. "The World Bank and the Asian Development Bank: should Asia have both?," Chapters, in: Masahiro Kawai & Peter J. Morgan & Pradumna B. Rana (ed.), New Global Economic Architecture, chapter 9, pages 197-214, Edward Elgar Publishing.
    7. Cord Jakobeit, 1992. "The EBRD: Redundant, or an important actor in the transformation of Eastern Europe?," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 27(3), pages 119-123, May.
    8. Wihtol, Robert, 2014. "Whither Multilateral Development Finance?," ADBI Working Papers 491, Asian Development Bank Institute.
    9. Masahiro Kawai & Peter J. Morgan & Pradumna B. Rana (ed.), 2014. "New Global Economic Architecture," Books, Edward Elgar Publishing, number 15654, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Dan Costin Nitescu & Valentin Murgu & Valentin Murgu, 2023. "Multilateral development banks – Strategic actors in the new economy?," E&M Economics and Management, Technical University of Liberec, Faculty of Economics, vol. 26(3), pages 145-157, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mona Lyne & Daniel Nielson & Michael Tierney, 2009. "Controlling coalitions: Social lending at the multilateral development banks," The Review of International Organizations, Springer, vol. 4(4), pages 407-433, December.
    2. Michaelowa, Katharina & Borrmann, Axel, 2004. "What Determines Evaluation Outcomes? Evidence from Bi- and Multilateral Development Cooperation," HWWA Discussion Papers 310, Hamburg Institute of International Economics (HWWA).
    3. Nathan Jensen, 2007. "International institutions and market expectations: Stock price responses to the WTO ruling on the 2002 U.S. steel tariffs," The Review of International Organizations, Springer, vol. 2(3), pages 261-280, September.
    4. Simplice A. Asongu & Jacinta C. Nwachukwu, 2018. "Increasing Foreign Aid for Inclusive Human Development in Africa," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 138(2), pages 443-466, July.
    5. Jac C. Heckelman & Stephen Knack, 2008. "Foreign Aid and Market‐Liberalizing Reform," Economica, London School of Economics and Political Science, vol. 75(299), pages 524-548, August.
    6. Asteris Huliaras & Sotiris Petropoulos, 2016. "European Money in Greece: In Search of the Real Impact of EU Structural Funds," Journal of Common Market Studies, Wiley Blackwell, vol. 54(6), pages 1332-1349, November.
    7. Theocharis Grigoriadis, 2013. "Aid effectiveness and imperfect monitoring: EU development aid as Prisoner’s Dilemma," Rationality and Society, , vol. 25(4), pages 489-511, November.
    8. Mohammad Reza Farzanegan & Stefan Witthuhn, 2014. "Demographic Transition and Political Stability: Does Corruption Matter?," CESifo Working Paper Series 5133, CESifo.
    9. Nancy Birdsall & Liliana Rojas-Suarez (ed.), 2004. "Financing Development: The Power of Regionalism," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 359.
    10. Aizenman, Joshua, 2005. "Ex ante carrots instead of ex post sticks: two examples," Santa Cruz Department of Economics, Working Paper Series qt1jw476fz, Department of Economics, UC Santa Cruz.
    11. Kaplan Yilmaz, 2017. "China’s OBOR as a Geo-Functional Institutionalist Project," TalTech Journal of European Studies, Sciendo, vol. 7(1), pages 7-23, June.
    12. Asongu, Simplice, 2014. "A brief clarification to the questionable economics of foreign aid for inclusive human development," MPRA Paper 64458, University Library of Munich, Germany.
    13. Toke S. Aidt & Facundo Albornoz & Esther Hauk, 2021. "Foreign Influence and Domestic Policy," Journal of Economic Literature, American Economic Association, vol. 59(2), pages 426-487, June.
    14. V. Antropov V. & В. Антропов В., 2019. "Многосторонние банки развития в мировой экономике: особенности деятельности и перспективы сотрудничества с Россией // Multilateral Development Banks in the World Economy: Business Specifics and Prospe," Экономика. Налоги. Право // Economics, taxes & law, ФГОБУ "Финансовый университет при Правительстве Российской Федерации" // Financial University under The Government of Russian Federation, vol. 12(1), pages 98-109.
    15. Carsten Hefeker, 2006. "Project Aid or Budget Aid? The Interests of Governments and Financial Institutions," Review of Development Economics, Wiley Blackwell, vol. 10(2), pages 241-252, May.
    16. Asongu, Simplice & Odhiambo, Nicholas, 2019. "Foreign Aid Complementarities and Inclusive Human Development in Africa," MPRA Paper 101086, University Library of Munich, Germany.
    17. Eifert, Benn & Gelb, Alan & Ramachandran, Vijaya, 2008. "The Cost of Doing Business in Africa: Evidence from Enterprise Survey Data," World Development, Elsevier, vol. 36(9), pages 1531-1546, September.
    18. Anwar, Mumtaz, 2005. "The Political Economy of International Financial Institutions? Lending to Pakistan," HWWA Discussion Papers 338, Hamburg Institute of International Economics (HWWA).
    19. Michal Kolmas, 2016. "China’s Approach to Regional Cooperation," China Report, , vol. 52(3), pages 192-210, August.
    20. Bjørnskov, Christian, 2010. "Do elites benefit from democracy and foreign aid in developing countries?," Journal of Development Economics, Elsevier, vol. 92(2), pages 115-124, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:asiaeu:v:15:y:2017:i:3:d:10.1007_s10308-016-0465-y. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.