- Title
- Integration of the new development bank into the international financial architecture
- Creator
- Chitenderu, Tafadzwa Thelmah
- Subject
- World Bank
- Subject
- International Monetary Fund -- Developing countries Economic development -- International cooperation Financial institutions, International
- Date Issued
- 2018
- Date
- 2018
- Type
- Thesis
- Type
- Doctoral
- Type
- PhD
- Identifier
- http://hdl.handle.net/10948/23924
- Identifier
- vital:30645
- Description
- The study looked at the integration of the BRICS New Development Bank into the international financial architecture. In doing so, it made use of an econometric evaluation of the impact of the loans received from the current dominant financial institutions, namely International Monetary Fund (IMF) and the World Bank, on economic growth of ten self-selected African countries. Given the challenges and the failures of the Western dominated funding to African countries, it is important to ensure that the funding approach of the New Development Bank does not resemble that of the current international finance system. Using panel data and quantile regression econometric models on annual data from ten self-selected African countries that are recipients of World Bank and IMF loans from 1994 to 2014, this thesis presents a framework for the integration of the BRICS’ New Development Bank into the global financial architecture. The results obtained shows a negative and statistically significant impact of World Bank loans on Gross Domestic Product of the country under analysis and a positive statistically insignificant impact of IMF loans. Given the existing global financial institutions and the wealth of expertise at their disposal, this thesis concludes that the existing global financial structure cannot be done away with completely but the New Development Bank should rather perform a complementary role in the global finance space. Accordingly, the New Development Bank should champion a ‘post ideological rhetoric’ in the global financial architecture.
- Format
- xviii, 233 leaves
- Format
- Publisher
- Nelson Mandela University
- Publisher
- Faculty of Business and Economics Sciences
- Language
- English
- Rights
- Nelson Mandela University
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