Publication

In this paper the authors investigate how country shareholding arrangements affect the lending of multilateral development banks (MDBs) under different economic conditions and over time. To do so, they consider three different “types” of MDBs—one dominated by non-borrowers (the World Bank), another controlled by borrowing countries (the Corporación Andina de Fomento, CAF), and a third where control is more evenly split between borrowers and non-borrowers (the Inter-American Development Bank, IADB)—and a common set of borrowing countries in Latin America.