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How to finance economic development in the new millennium: German capital exports to Asia and the debate on the effectiveness of official development financing

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  • Nunnenkamp, Peter

Abstract

Germany's role in financing economic development in Asia on a sustainable basis leaves much to be desired. Direct investors are still underrepresented in the region. Commercial banks have fueled speculative bubbles. Official development financing does not appear to be based on efficiency-related criteria. As concerns development financing in the new millennium, the challenge for relatively advanced emerging market economies is mainly to restructure private capital inflows in order to soften boom and bust cycles. Official development financing needs major reforms in order to promote economic growth, alleviate poverty and support good governance in low-income developing countries.

Suggested Citation

  • Nunnenkamp, Peter, 2000. "How to finance economic development in the new millennium: German capital exports to Asia and the debate on the effectiveness of official development financing," Kiel Working Papers 981, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwkwp:981
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    References listed on IDEAS

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    1. Kanbur, Ravi & Sandler, Todd & Morrison, Kevin, 1999. "The Future of Development Assistance: Common Pools and International Public Goods," Staff General Research Papers Archive 1629, Iowa State University, Department of Economics.
    2. Hiemenz, Ulrich, 1989. "Development strategies and foreign aid policies for low income countries in the 1990s," Kiel Discussion Papers 152, Kiel Institute for the World Economy (IfW Kiel).
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    Cited by:

    1. Nunnenkamp, Peter, 2002. "IWF und Weltbank: trotz aller Mängel weiterhin gebraucht?," Kiel Discussion Papers 388, Kiel Institute for the World Economy (IfW Kiel).

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    More about this item

    Keywords

    private capital flows; official development assistance;

    JEL classification:

    • F35 - International Economics - - International Finance - - - Foreign Aid
    • F30 - International Economics - - International Finance - - - General

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