The effect of EIB operations on private sector lending outside the European Union
| dc.contributor.author | Presbitero, Andrea F. |
| dc.contributor.author | Gatti, Matteo |
| dc.contributor.author | Gorea (, Denis |
| dc.date.accessioned | 2023-06-21T06:14:29Z |
| dc.date.available | 2023-06-21T06:14:29Z |
| dc.date.issued | 2023-06-14 |
| dc.identifier.isbn | 978-92-861-5586-4 |
| dc.identifier.uri | https://ketlib.lib.unipi.gr/xmlui/handle/ket/3970 |
| dc.description | JEL Classification Numbers: F21, F34, H81 |
| dc.description | The effect of EIB operations on private sector lending outside the European Union+ Matteo Gatti * Denis Gorea∆ Andrea F. Presbitero # June 2023 Abstract: Does an increase in lending by multinational development banks affect the private lending activity in developing countries? We show that this is indeed the case using data on loans and investments by the European Investment Bank (EIB) in combination with data on syndicated loans. We find that a pronounced increase in EIB operations is followed by a surge in the number and volumes of syndicate loans in countries outside the European Union. Our results suggest that multinational banks can incentivize private sector lending by playing an important role in signaling to private markets that borrowers in emerging and developing countries are safe. JEL Classification Numbers: F21, F34, H81 Keywords: European Investment Bank, Financial assistance, Financial conditions, Public and private lending, Syndicated loans *EIB, m.gatti@eib.org; ∆ EIB, d.gorea@eib.org; # IMF and CEPR, apresbitero@imf.org + We thank Frank Betz and Emily Sinnott for helpful suggestions. The views expressed here are those of the authors and should not be attributed to the European Investment Bank or the International Monetary Fund, their Executive Boards, or their management. |
| dc.description | DOI: 10.2867/455760 |
| dc.description.abstract | Does an increase in lending by multinational development banks affect the private lending activity in developing countries? We show that this is indeed the case using data on loans and investments by the European Investment Bank (EIB) in combination with data on syndicated loans. We find that a pronounced increase in EIB operations is followed by a surge in the number and volumes of syndicate loans in countries outside the European Union. Our results suggest that multinational banks can incentivize private sector lending by playing an important role in signaling to private markets that borrowers in emerging and developing countries are safe. |
| dc.format.extent | 36p. |
| dc.language.iso | en |
| dc.publisher | European Investment Bank |
| dc.subject | Private sector |
| dc.subject | Economics |
| dc.title | The effect of EIB operations on private sector lending outside the European Union |
| dc.type | working paper |
| dc.publisher.place | Λουξεμβούργο |
