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E-book

Title Innovative financing for development / Suhas Ketkar and Dilip Ratha (editors)
Published Washington, DC : World Bank, 2008, ©2009

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Description 1 online resource (xvi, 201 pages) : illustrations
Contents Foreword; Acknowledgments; About the Editors; Abbreviations; 1 Innovative Financing for Development: Overview; Figure 1.1 Value of Bonded Debt in All Developing Countries, 1970-2005; Figure 1.2 Debt- Trading Volume of Developing Countries, 1985-2007; Table 1.1 Hierarchy in Future- Flow- Backed Transactions; Figure 1.3 Launch Spreads Decline with an Increase in Sovereign Rating; Table 1.2 Innovations Classified by Financial Intermediation Function; 2 Future-Flow Securitization for Development Finance; Figure 2.1 Stylized Structure of a Typical Future-Flow Securitization
Table 2.1 Hierarchy in Future-Flow-Backed TransactionsBox 2.1 Pakistan Telecommunications Company Limited (PTCL)-No Default on Asset-Backed Papers Even in the Face of Selective Default on Sovereign Debt; Figure 2.2 Asset-Backed Securitization Issuance, 1992-2006; Figure 2.3 Major Issuers, 1992-2006; Table 2.2 Future-Flow Securitization Worldwide, by Asset, 1992-2006; Table 2.3 Securitization Potential of Regions and Sectors, 2003-06; Table 2.4 Most Likely Issuers' Securitization Potential, 2003-06; Box 2.2 Banco do Brasil's (BdB) Nikkei Remittance Trust Securitization
Figure 2.4 Rises in Remittances Following National DisastersTable 2.5 Remittance- and DPR-Backed Transaction Ratings; Figure 2.5 Recovery of Remittances after Tsunamis; Table 2.6 Potential for Remittance-Backed Securitization; Figure 2A.1 Credit Card Receivables Structure; Figure 2A.2 Crude Oil Receivables Structure; 3 Development Finance via Diaspora Bonds; Figure 3.1 Total Bond Sales by Israel, 1996-2007; Figure 3.2 Israeli Bond Sales by Type, 1951-2007; Table 3.1 Bond Offerings by Israel; Figure 3.3 Discount on Israeli DCI Bonds Compared with U.S. Treasuries, 1953-2007
Table 3.2 Diaspora Bonds Issued by IndiaTable 3.3 Comparison of Diaspora Bonds Issued by Israel and India; Table 3.4 Countries with Large Diasporas in the High-Income OECD Countries; 4 GDP-Indexed Bonds: Making It Happen; 5 Shadow Sovereign Ratings for Unrated Developing Countries; Figure 5.1 Composition of Private Capital Flows in Rated and Unrated Countries, 2005; Box 5.1 Sovereign Spreads Are Inversely Related to Sovereign Ratings; Figure 5.2 Evolution of Sovereign Credit Ratings, 1980-2006; Figure 5.3 Correlation of Sovereign Ratings by Different Agencies
Figure 5.4 Evolution of Sovereign Credit Ratings in Selected Countries, 1986-2006Figure 5.5 Subsovereign Foreign Currency Debt Issues in Developing Countries Rated by S & P, 1993-2005; Table 5.1 Literature on Model-Based Determinants of Ratings; Table 5.2 Ratings-Conversion from Letter to Numeric Scale; Table 5.3 Regression Results Using 2005 Explanatory Variables for Ratings in December 2006; Table 5.4 Regression Results Using Dated Explanatory Variables for Latest Ratings as of December 2006; Figure 5.6 Comparison of Actual S & P Ratings Established in 2006 with Predicted Ratings
Summary This book argues that poor countries need additional, cross-border capital channeled to the private sector for employment generation, growth, and poverty reduction. For that, innovative financing mechanisms are necessary. The volume brings together various market-based innovative methods of raising development finance including securitization of future flow receivables, diaspora bonds, and the role of shadow sovereign ratings in facilitating access to international capital markets
Bibliography Includes bibliographical references and index
Notes Print version record
Subject Economic assistance -- Developing countries
Finance -- Developing countries
Economic assistance
Finance
SUBJECT Developing countries -- Economic policy -- Finance
Subject Developing countries
Form Electronic book
Author Ketkar, Suhas
Ratha, Dilip
ISBN 0821376853
9780821376850
082137706X
9780821377062