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Guaranteeing Development? The Impact of Financial Guarantees

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  Available in print (paperback) and electronic format (pdf)
140 pages
OECD, Paris 2005
ISBN 92-64-01331-8
OECD 412005021E1

  

Guaranteeing Development? The Impact of Financial Guarantees

By James Winpenny

This volume tests the relevance and usefulness of guarantees to public and private actors in developing countries, especially for funding development projects.

The presence of guarantees from multilateral or bilateral agencies can encourage financial flows either to increase or to go where they otherwise might not. In this way, they can have a positive effect on sovereign ratings as well as their immediate direct effect on the local development environment. As a bonus, this study finds, development guarantees can help stimulate and stabilise local capital markets, thus providing future benefits for both public and private investors.

 

“A timely book, throwing urgently-needed light on this little-understood topic, which could be a vital key to economic progress in developing countries. With my deep congratulations to the author.”

--Michel Camdessus, Honorary Governor of the Banque de France, formerly Managing Director of the International Monetary Fund)

 

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