An Empirical investigation of the EBRD's lending policy (1991-2003)
Artige, Lionel ![Identificador ORCID](/img/uab/orcid.ico)
(Université de Liège)
Nicolini, Rosella ![Identificador ORCID](/img/uab/orcid.ico)
(Universitat Autònoma de Barcelona)
Data: |
2012 |
Descripció: |
28 pàg. |
Resum: |
The institutional purpose of the European Bank for Reconstruction and Development (EBRD) is to foster the transition towards open market-oriented economics. This paper investigates the lending policy of the bank (during the period 1991-2003) as a practical device to achieve the previous target. By building up an original database based on the public records of the contracts signed by the EBRD, we are able to isolate a clear strategy: the entry of foreign multinational corporations into transition countries serves as a pillar to consolidate the creation of the market system. This result is achieved by empirically analyzing the determinants of the credit granted to a group of local and foreign borrowers. |
Ajuts: |
Agència de Gestió d'Ajuts Universitaris i de Recerca 2009SGR00600 Ministerio de Economía y Competitividad SEJ2008-01850
|
Nota: |
Financial support from research grants 2009SGR00600 and SEJ2008-01850 is acknowledged |
Drets: |
Tots els drets reservats. ![](/img/licenses/InC.ico) |
Llengua: |
Anglès |
Document: |
Prepublicació ; recerca ; Versió de l'autor |
Matèria: |
Credits ;
Investments ;
Multinational firms ;
Transition Economics |
DOI: 10.2139/ssrn.2113377
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