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Development banks, risk and Basle II: some assessments

Sobreira, Rogério
Fonte: Fundação Getúlio Vargas Publicador: Fundação Getúlio Vargas
Tipo: Relatório
Português
Relevância na Pesquisa
66.12%
The implementation of the Basle II agreement in the financial markets of world economies has been seen as a significant advance in relation to the model enforced under the first agreement (Basle I). It is generally understood that the new agreement represents a substantial advance in relation to the first because it allows banks to better deal with the risks to which they are exposed. Nevertheless, when the application of these principles to development banks is considered it can be noted that certain inconsistencies exist, notably the fact that these institutions are typically public institutions - or at least strongly dependent on public funding - and they do not operate the payment system of the economy. Therefore, the application of the Basle rules to these institutions does not make sense. This means that Basle does not represent an appropriate set of recommendations for how these institutions should deal with their risks, whether because the proposed form of dealing with risks is inadequate, or because other relevant risks for these institutions are not covered by Basle I and II.

Solidarity finance through community development banks as a strategy for reshaping local economies: lessons from Banco Palmas

França Filho,Genauto Carvalho de; Silva Júnior,Jeová Torres; Rigo,Ariádne Scalfoni
Fonte: Departamento de Administração da Faculdade de Economia, Administração e Contabilidade da Universidade de São Paulo Publicador: Departamento de Administração da Faculdade de Economia, Administração e Contabilidade da Universidade de São Paulo
Tipo: Artigo de Revista Científica Formato: text/html
Publicado em 01/09/2012 Português
Relevância na Pesquisa
66.06%
The purpose of this paper is to reflect on the possibilities and challenges of Community Development Banks (CDBs) as an innovative method of socioeconomic management of microcredit for poor populations. To this end, we will discuss the case of Banco Palmas in Conjunto Palmeiras in the city of Fortaleza, in the northeastern state of Ceará, as an empirical case study. The analyses presented here are based on information obtained from Banco Palmas between late 2011 and early 2012. In addition, previous studies by other researchers on the bank and other studies on CDBs were important. The primary data collected at Banco Palmas came from documents made available by the bank, such as reports and mappings. The analyses describe some of the characteristics of the granting of microcredit and allow one to situate it in the universe of microfinance and solidarity finance. They also show the significant growth of local consumption, mostly through the use of the Palmas social currency. The Banco Palmas experience, aside from influencing national public policies of solidarity finance, initiated a CDBs network that encourages the replication of these experiences throughout the country.

Development banks, risk and Basle II: some assessments

Sobreira,Rogério
Fonte: Fundação Getulio Vargas, Escola Brasileira de Administração Pública e de Empresas Publicador: Fundação Getulio Vargas, Escola Brasileira de Administração Pública e de Empresas
Tipo: Artigo de Revista Científica Formato: text/html
Publicado em 01/12/2008 Português
Relevância na Pesquisa
66.12%
The implementation of the Basle II agreement in the financial markets of world economies has been seen as a significant advance in relation to the model enforced under the first agreement (Basle I). It is generally understood that the new agreement represents a substantial advance in relation to the first because it allows banks to better deal with the risks to which they are exposed. Nevertheless, when the application of these principles to development banks is considered it can be noted that certain inconsistencies exist, notably the fact that these institutions are typically public institutions - or at least strongly dependent on public funding - and they do not operate the payment system of the economy. Therefore, the application of the Basle rules to these institutions does not make sense. This means that Basle does not represent an appropriate set of recommendations for how these institutions should deal with their risks, whether because the proposed form of dealing with risks is inadequate, or because other relevant risks for these institutions are not covered by Basle I and II.

What Do State-Owned Development Banks Do? Evidence from BNDES, 2002–09

Lazzarini, Sergio G.; Musacchio, Aldo; Bandeira-de-Mello, Rodrigo; Marcon, Rosilene
Fonte: Elsevier Publicador: Elsevier
Tipo: Artigo de Revista Científica
Português
Relevância na Pesquisa
66.09%
Defendants of state-owned development banks emphasize their role in reducing capital constraints and fostering productive investment; detractors point out that they may benefit politically connected capitalists or bail out inefficient firms. We study the effect of loans and equity investments of the Brazilian National Development Bank (BNDES) and find that they do not have any consistent effect on firm-level performance and investment, except for a reduction in financial expenditures due to the subsidies accompanying loans. However, BNDES does not systematically lend to underperforming firms. Our results indicate that BNDES subsidizes firms that could fund their projects with other sources of capital.

Global Survey of Development Banks

de Luna-Martinez, José; Vicente, Carlos Leonardo
Fonte: Banco Mundial Publicador: Banco Mundial
Português
Relevância na Pesquisa
66.38%
Historically, development banks have been an important instrument of governments to promote economic growth by providing credit and a wide range of advisory and capacity building programs to households, small and medium enterprises, and even large private corporations, whose financial needs are not sufficiently served by private commercial banks or local capital markets. During the current financial crisis, most development banks in Latin America, followed by Asia, Africa, and Europe, have assumed a countercyclical role by scaling up their lending operations exactly when private banks experienced temporary difficulties in granting credit to the private sector. Despite the importance of development banks during crisis and non-crisis periods, little is known about them. This survey examines how development banks operate, what their policy mandates are, what financial services they offer, which type of clients they target, how they are regulated and supervised, what business models they have adopted, what governance framework they have...

Development Banks : Role and Mechanisms to Increase their Efficiency

Gutierrez, Eva; Rudolph, Heinz P.; Homa, Theodore; Blanco Beneit, Enrique
Fonte: Banco Mundial Publicador: Banco Mundial
Português
Relevância na Pesquisa
66.34%
Past performance of development banks, has generally been considered poor and the value of state ownership questioned. There are few institutions that achieve the optimum balance of effectively addressing a policy objective while being financially sustainable. Following the financial crisis, there is a renewed interest in the role development banks can play in weathering the crisis. The purpose of this paper is to highlight the lessons learned following the financial crisis and to present some of the best practices in development banking so that policy makers can be better informed should they be considering how to build strong state financial institutions to address current and future needs in their respective countries.

Measuring Financial Access around the World

Kendall, Jake; Mylenko, Nataliya; Ponce, Alejandro
Fonte: Banco Mundial Publicador: Banco Mundial
Português
Relevância na Pesquisa
46.35%
This paper introduces a new set of financial access indicators for 139 countries across the globe and describes the results of a preliminary analysis of this data set. The new data set builds on previous work using a similar methodology. The new data set features broader country coverage and greater disaggregation by type of financial product and by type of institution supplying the product -- commercial banks, specialized state run savings and development banks, banks with mutual ownership structure (such as cooperatives), and microfinance institutions. The authors use the data set to conduct a rough estimation of the number of bank accounts in the world (6.2 billion) as well as the number of banked and unbanked individuals. In developed countries, they estimate 3.2 accounts per adult and 81 percent of adults banked. By contrast, in developing countries, they estimate only 0.9 accounts per adult and 28 percent banked. In regression analysis, they find that measures of development and physical infrastructure are positively associated with the indicators of deposit account...

Innovating Development Finance : From Financing Sources to Financial Solutions

Girishankar, Navin
Fonte: Banco Mundial Publicador: Banco Mundial
Português
Relevância na Pesquisa
46.25%
As early as 2000, development partners embarked on a decade-long search for "innovative" or alternative sources of Official Development Assistance to help finance achievement of the Millennium Development Goals. For their part, developing countries have sought not only more financial flows but better financial solutions, for example, through partnerships that mobilize private finance for public service delivery, risk mitigation efforts that promote private entry in the productive sectors, and support for carbon trading. This paper offers a framework to organize and understand this heterogeneous mix of innovations in fund-raising and financial solutions for development. It also provides, for the first time, a stocktaking of actual innovations that make up the international landscape and highlights the World Bank Group s role to date. The stocktaking shows that innovative finance mechanisms have played a more significant role in supporting financial solutions on the ground than in identifying and exploiting "alternative sources of ODA." Innovative fund-raising therefore should be viewed as a complement to - rather than a substitute for - traditional efforts to mobilize official flows...

Privatization in Development : Some Lessons from Experience

Bourguignon, François; Sepulveda, Claudia
Fonte: Banco Mundial Publicador: Banco Mundial
Português
Relevância na Pesquisa
56.01%
This paper briefly reviews the main theories of state versus private ownership and empirical evidence on the impact of privatization in developing countries (including transition economies). The paper draws some lessons for policy and offers some suggestions on how to assess privatization, at least in countries where there is still scope for it. The paper suggests that although understanding of the efficiency gains of privatization has increased significantly in recent years, there is an important area about which little is known: the distributional effects of privatization. Whether arguing from the standpoint of welfare economics or political economy, distributional effects are critical to the outcome, or the perceived outcome, of privatization. Thus, there is a need to fully evaluate the ex ante and ex post impacts of privatization, the most effective types of regulation and ownership regimes, and the way in which losers, when there are any, can be compensated. This is a need that must be met by academics and development agencies...

Subsidies as an Instrument in Agriculture Finance : A Review

Meyer, Richard L.
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
Relevância na Pesquisa
46.25%
This paper presents a literature review of issues related to recent subsidies and investments in the financial sector that have been designed to address the immediate effects of the crises and to develop the financial institutions necessary to modernize agriculture. Section two of the paper discusses the impact of recent food, fuel, and financial crises on developing countries and the emergency actions taken by countries and international agencies to reduce the suffering inflicted on poor people. It also discusses the challenge of finding a balance between pragmatic immediate responses and longer-term objectives. The third section discusses the role of finance in agricultural development and poverty alleviation. Section four deals with the challenge of creating credit markets in developing countries. The fifth section covers shifts in the paradigm used to intervene in credit markets and summarizes the main features of the old directed-credit and the new financial systems paradigms. This is followed by a sixth section that summarizes highlights in the development of the microfinance industry. It covers guidelines created for developing microfinance...

Development Finance Institutions : Measuring Their Subsidy

Schreiner, Mark; Yaron, Jacob
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Português
Relevância na Pesquisa
56.06%
The term "development finance institutions" (DFI) encompasses no only government development banks, but also nongovernmental micro-finance organizations, that match grants to attempt to promote community development, decentralization of power, and local empowerment. Measures of the social cost of DFIs that receive public funds, help to check whether DFIs are good uses of public funds, i.e., if the social benefit of a DFI exceeds the social cost, then public funds are indeed well-spent, further improving social welfare. This report describes the measurement of costs but not of benefits; but even without knowledge of benefits, knowledge of costs can help to adequately spend funds. Two measures of social cost are presented: first, the Subsidy Dependence Index (SDI) - the ratio of subsidy received to revenue from loans; and, subsidy is the social cost of the public funds used to run a DFI - which does not discount flows, rather it works in short time frames, or when the rate of time preference is low; second...

Mexico : Financial Sector Assessment

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Português
Relevância na Pesquisa
46.29%
The report is based on the joint International Monetary Fund-World Bank Financial Sector Assessment Program (FSAP), and summarizes the quantitative data through end-2000, although the quantitative discussion in this report has been updated to reflect salient developments since then. The FSAP took place at an important juncture for the development of the financial sector, with major legal reforms being introduced, which for the most part, were consistent with FSAP recommendations. Consequences of the 1994/95 banking crisis have been absorbed, with the associated fiscal losses transparently allocated to the public sector, in the form of explicit IPAB (Instituto de Proteccion de Ahorros Bancarios) debt. Macroeconomic indicators strengthened significantly since the crisis, due to the improved policy management, and closer links to the US economy. However, while the policy of increasing the share of domestic public sector debt has gains in terms of reduced vulnerability, it is not without costs, for regulations discourage loan dollarization...

Review of State-Owned Banks in Belarus

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Português
Relevância na Pesquisa
46.29%
This note reviews state-owned banks in Belarus and offers recommendations on how to strengthen them. It covers the Belarusbank, Belagroprombank, Belinvestbank, and Paritetbank (the public banks), and the recently established Development Bank of Belarus (DBB). Recommendations focus on corporate governance, funding, ownership function, mandate, lending models, and regulation and supervision. The note is based on information provided by the public banks, the Ministry of Finance, and the NBRB. However, due to their unavailability, the team did not hold meetings with the DBB and the Ministry of Economy. Thus, the analyses concerning the DBB are based on the review of its law as well as on discussions with the Ministry of Finance and the NBRB. The note is organized as follows: after this introduction, section two presents an overview of the public banks in Belarus and the role that they play in the local economy; section three discusses the details of Lending under Government Programs (LGP) and the importance for the public banks of the funding attached to these programs; section four analyzes the key features of the DBB...

Indonesia : Private Sector Development Strategy; Indonesia : World Bank Group Private Sector Development Strategy

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Português
Relevância na Pesquisa
46.29%
The report reviews the Bank's private sector development strategy in Indonesia, stipulating that the country's potential will not be realized without a pattern of private sector activity, - different from the past - but, taking the opportunity offered by the crisis to make fundamental changes in the business environment, and in how business is conducted. The first priority calls for the banking, and corporate sectors to speed up the resolution of corporate debt, and ease financial flows for investment, and working capital to resume. Second, the structural inefficiencies, partly conducive to the crisis, and to its long lasting effect, need to be overcome; therefore, reforms should enable Indonesia to become a modern market economy, able to avoid future crises. This encompasses fighting corruption in the public administration, ensuring the rule of law through the court system, reinforcing property rights, and dispute resolution mechanisms, and, ensuring transparency and corporate governance. Third, broad-based...

Fostering the Development of Greenfield Mining-related Transport Infrastructure through Project Financing

International Finance Corporation; Public-Private Infrastructure Advisory Facility
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Publication; Publications & Research :: Working Paper
Português
Relevância na Pesquisa
56.03%
The purpose of this study is to serve as a guide on developing Greenfield transport infrastructure (rail and port) primarily used to support mining operations ('mining-related infrastructure'), through Public-Private Partnership (PPP) schemes and on a project finance basis. The focus is on key financing issues and considerations, as well as recommendations for governments and private-sector participants, specifically in the context of sub-Saharan Africa and similar regions. Over the past decade, the rapid economic growth in newly industrialized markets has fueled a strong demand for various commodities (such as iron, coal, bauxite and copper), with significant impact on their prices. The last ten years have seen an unprecedented rise in the price of mineral commodities worldwide. From the mid-2000s through the early 2010s, the world's largest mining companies embarked in the planning of numerous and often very large mining projects to satisfy what was seen as an ever growing double digit demand for minerals (iron ore...

Monitoring and Evaluation Capacity Development in Africa : Selected Proceedings, Johannesburg, 25-29 September 2000

Development Bank of Southern Africa; African Development Bank; World Bank
Fonte: Johannesburg Publicador: Johannesburg
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
Português
Relevância na Pesquisa
56.08%
The importance of the monitoring and evaluation (M&E) function within public administration has been magnified by the growing voice of civil society, which has brought the issues of good governance and more effective public administration to the fore. The global trend towards more accountable, responsive and efficient government has bolstered the appeal for M&E capacity development, which has been the central focus of efforts to improve governance in the context of a comprehensive development framework. Evaluation has become increasingly important in Africa owing to stagnant, and negative economic growth rates, together with concerns related to governance, and doubts about the efficacy of development assistance. These are selected proceedings from the seminar and workshop on "Monitoring and Evaluation Capacity Development for Africa" as a follow-up to the regional seminar, to foster networking among M&E practitioners, and to share knowledge on M&E in the context of improved governance, accountability, and effective development delivery...

Myanmar Agricultural Development Bank : Initial Assessment and Restructuring Options

World Bank
Fonte: Bangkok Publicador: Bangkok
Tipo: Publications & Research :: Working Paper; Publications & Research
Português
Relevância na Pesquisa
46.3%
Myanmar is an agricultural country. It is estimated that the agriculture sector represents between 35 to 40 percent of gross domestic product (GDP) and that up to 70 percent of the labor force (of 32.5 million) is directly or indirectly engaged in agricultural activities or depend on agriculture for their income. Given agriculture's important contribution to the economy, the modernization of the agriculture sector is a top priority in the economic and social development agenda of the Government of Myanmar. Among the government institutions supporting the agriculture sector, the Myanmar Agriculture Development Bank (MADB) plays an important role. MADB was established in June 1953 by the Government of Myanmar to support the development of agriculture, livestock, and rural enterprises in Myanmar. MADB is currently the largest financial institution serving the rural areas and financing agriculture activities. At the end of 2012, MADB served 1.87 million customers, mostly farmers, and had a network of 206 branches (which accounted for 23 percent of all banks' branches in Myanmar). Since its creation...

Measuring the Performance and Achievement of Social Objectives of Development Finance Institutions

Francisco, Manuela; Mascaró, Yira; Mendoza, Juan Carlos; Yaron, Jacob
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
46.28%
This paper develops and tests a proposed methodology that puts forward a new integrated method for evaluating the performance of development finance institutions. This methodology applies assessment criteria that take into account both the social objective that the development finance institution addresses and the subsidies it received in order to achieve such an objective. This methodology is applied to two pilot case studies-Banadesa (Honduras) and Banrural (Guatemala). The authors calculate the previously tested subsidy dependence index, which measures the degree of an institution's subsidy dependence. The paper develops and estimates a new measure-the output index- which indicates the level to which the institution fulfills the social objectives of the state. The analysis integrates the subsidy dependence index and the output index to assess the effectiveness associated with meeting the social objective. The findings suggest that the integration of the two indexes can constitute the basis of a meaningful evaluation framework for the performance of development finance institutions. This new methodology can also be a useful metric for policy makers who are seeking to decide on an optimal allocation of scarce funds for development finance institutions that pursue social goals and for management that seeks improved performance outcomes.

Caught in the Middle: Multilateral Development Bank Responses to Environmental Performance

Buntaine, Mark Thomas
Fonte: Universidade Duke Publicador: Universidade Duke
Tipo: Dissertação
Publicado em //2011 Português
Relevância na Pesquisa
56.28%

Since their creation, the multilateral development banks have accumulated performance records that include both substantial successes and stunning failures. Nowhere have their performance records been more mixed and controversial than with respect to environmental management issues. The multilateral development banks have financed projects that are widely considered to be environmental disasters, but have also financed projects that successfully included best practice environmental mitigation measures. They have wasted hundreds of millions of dollars financing unsuccessful environmental protection programs, while at the same time they have supported programs that contributed to the rapid development of environmental management capacity in less-developed countries. The purpose of this dissertation is to explore when and why monitoring and evaluation can prompt the multilateral development banks to move away from poor performing projects and towards high performing projects.

This type of performance-based allocation has been repeatedly highlighted as a key element in the successful delivery of development assistance. To test when the multilateral development banks practice performance-based allocation, I assembled a team that coded environmental performance information from 960 project evaluations...

Solidarity finance through community development banks as a strategy for reshaping local economies: lessons from Banco Palmas; Finanças solidárias por meio de bancos comunitários de desenvolvimento enquanto estratégia de reorganização de economias locais: lições do caso Banco Palmas; Finanzas solidarias por medio de bancos comunitarios de desarrollo como estrategia para la reorganización de economías locales: lecciones del caso Banco Palmas

França Filho, Genauto Carvalho de; Silva Júnior, Jeová Torres; Rigo, Ariádne Scalfoni
Fonte: Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade Publicador: Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade
Tipo: info:eu-repo/semantics/article; info:eu-repo/semantics/publishedVersion; Artigo Avaliado pelos Pares Formato: application/pdf
Publicado em 01/09/2012 Português
Relevância na Pesquisa
66.06%
The purpose of this paper is to reflect on the possibilities and challenges of Community Development Banks (CDBs) as an innovative method of socioeconomic management of microcredit for poor populations. To this end, we will discuss the case of Banco Palmas in Conjunto Palmeiras in the city of Fortaleza, in the northeastern state of Ceará, as an empirical case study. The analyses presented here are based on information obtained from Banco Palmas between late 2011 and early 2012. In addition, previous studies by other researchers on the bank and other studies on CDBs were important. The primary data collected at Banco Palmas came from documents made available by the bank, such as reports and mappings. The analyses describe some of the characteristics of the granting of microcredit and allow one to situate it in the universe of microfinance and solidarity finance. They also show the significant growth of local consumption, mostly through the use of the Palmas social currency. The Banco Palmas experience, aside from influencing national public policies of solidarity finance, initiated a CDBs network that encourages the replication of these experiences throughout the country.; O objetivo neste trabalho é refletir sobre potencialidades e desafios dos Bancos Comunitários de Desenvolvimento (BCDs) enquanto modalidade de organização socioeconômica inovadora na gestão do microcrédito junto a populações mais empobrecidas. Para tanto...