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This paper analyses the role of the African Development Bank in the African Economy. Over the past few years, the African Development Bank Group has tried to pursue its institutional reforms to maximize its development effectiveness and the quality of its operations. The efforts of its regional member countries and building their capacity helps to strengthen their economies. The Bank has also consolidated its role as the continent's leading development finance institution, knowledge and research center, and a leading voice in African development issues. The Bank has adopted the structure which consists of six vice-presidential complexes, for accountability and effective management. Africa as a continent is rich in natural resources but the lack of effective and ethical leadership compromises the African economy. The objective of this paper is to show how the African Development Bank is compromised by corrupt senior leaders in Africa. Economic decline in Africa is not caused by a lack of resources but caused by poor planning and self-enrichment by African leaders which includes leaders of the African Development Bank Group. This study has applied a secondary research methodology. The secondary research methodology was used because the information or data is currently available in conference papers, government gazettes, newspaper articles, online meeting conclusions, and interviews between journalists and African leaders. The findings presented in this paper are based on the data available and the paper is concluded by stating that the African Development Bank Group is used as a platform to loot public resources in African countries. [ABSTRACT FROM AUTHOR]

China has always tried to maintain multilateralism and advocated working together to deal with global climate change through multilateral mechanisms. Although China’s announcement to peak its carbon emissions by 2030 comes as no surprise, its commitment to carbon neutrality does. As the period between its carbon peaking and carbon neutrality is far shorter than that in the developed countries, China’s economic and energy structures need to be adjusted toward the low-carbon and carbon-free end with unprecedented efforts. To that end, China should define the responsibilities of local authorities and industrial entities to promote the orderly accomplishment of carbon peaking in all regions and industries. To supply the huge investments needed to achieve the goals of carbon peaking and carbon neutrality, China has an urgent need to accelerate the development of green finance and a national carbon emissions trading market, guide the rational allocation of resources, and channel resources to eco-friendly projects for green and low-carbon development. At the same time, China and the international community should strengthen dialogue and coordination, promote international cooperation on the way to carbon neutrality, formulate widely acceptable policy guidelines as soon as possible, and avoid unilateral measures that may cause conflicts. [ABSTRACT FROM AUTHOR]

This paper applies the contract theory to study the role of National Development Bank (NDB) in financing infrastructure investment. We first show that to mitigate overrun issues resulting from the agency problem during the infrastructure construction, the government uses mixed financing strategy combining fiscal funding with NDB loans. We then endogenize the NDB investment strategy to study the determinants of NDB profit and use cross-country panel data to empirically test our model predictions. [ABSTRACT FROM AUTHOR]

This paper investigates the causal relationship between bank development and economic growth in the US before and after the financial crisis in 2008. Based on the quarterly panel data of US states for 2002Q1-2012Q4, this paper uses two-step system GMM method to test the long-term and short-term impact of bank on growth. In addition, panel Granger causality test is used to verify the causality between bank and growth in different periods. The study finds that banks have played a significant role in the long-run economic growth process and there exists a bidirectional causality between bank and growth among US states. In the short term, the financial crisis has corrected the short-run relationship between bank and growth. The relationship between bank and growth has changed from one-way causality before the crisis to two-way causality after the crisis. Before the crisis, economic growth promotes bank credit, but bank development does not promote growth. After the crisis, banks play the role of economic driver through credit, savings and services, and economic growth drives bank savings and scale expansion. The financial intermediary service functions of banks, especially credit to private sector and absorbing savings to transfer loans, determine the role of bank development in economic growth. Policy makers should support bank development in the long run to establish a mature financial intermediary system and promote regional economic development. [ABSTRACT FROM AUTHOR]

The identification of key determinants of aid effectiveness is a long-standing question in the development community. This paper reviews the literature on aid effectiveness at the project level and then extends the inquiry in a variety of dimensions with new data on World Bank investment project financing. It confirms that the country institutional setting and quality of project supervision are associated with project success, as identified previously. However, many aspects of the development project cycle, especially project design, have been difficult to measure and therefore under-investigated. The paper finds that project design, as proxied by the estimated value added of design staff, the presence of prior analytic work, and other specially collected measures, is a significant predictor of ultimate project success. These factors generally grow in predictive importance as the income level of the country rises. The results also indicate that a key determinant of the staff's contribution is their experience with previous World Bank projects, but not other characteristics such as age, education, or country location. Key inputs to the project production process associated with subsequent performance are not captured in routine data systems, although it is feasible to do so. Further, the conceptualization and measurement of the success of project-based aid should be revisited by evaluative bodies to reflect a project's theorized contribution to development outcomes. [ABSTRACT FROM AUTHOR]

We aim to provide a comprehensive systematic analysis of scholarly publications in the field of board compensation in financial sectors extending through the years 1987 to 2021. Hence, the most notable themes, theories, and contributions to the literature are identified, and research developments over time are evaluated. With the identification of a final sample of 87 research papers indexed in Scopus, we identify research gaps to provide insight into future research following a systematic method. The results revealed that the United States of America received the broadest research interest, along with cross-country research. While the literature lacked to provide investigations for other countries of the world. Although the effect of compensation on organizational outcomes (performance and grow) is still unclear in the literature, several factors have been introduced as key drivers of the compensation, including the country's level of development, the development of equity markets, the development of banking system, its dependence on foreign capital, collective rights empowering labor, the strength of a country's welfare institutions, employment market forces, and social order and authority relations. On a theoretical level, agency theory has been most popular in the literature, along with providing multiple theoretical frameworks with agency theory as a slack resources theory, managerial talent theory, and managerial power theory. This is the first research to our knowledge that used a systematic review (SR) of literature to give a complete and comprehensive evaluation of the literature on board compensation in the financial sector. The current study documents the flow of literature on the board's compensation in the financial sectors over 24 years and establishes future research opportunities. [ABSTRACT FROM AUTHOR]

This paper investigates optimal decisions for private banking development in China under two innovative organizational structures—the big retail mode (BRM) and the independent development mode (IDM). Under the BRM, the retail and private banking divisions form a cooperative relationship wherein the former transfers high-net-worth customers to the latter. In addition, retail banking receives a share of private banking revenues. We investigate the optimal revenue-sharing ratio between the two divisions and the optimal effort by private banking to serve transferred customers within the cooperative relationship. The analytical results show that as the private banking division becomes more developed, the optimal revenue-sharing ratio decreases, and the private banking division's optimal effort to serve transferred customers decreases because it puts more effort into acquiring new customers. Under the IDM, the two divisions form a competitive relationship since they compete to acquire customers independently. We investigate customer acquisition efforts in this interdivisional competition. Optimal customer acquisition efforts by both divisions increase in potential assets and rates of return. This paper contributes to the literature by (1) analyzing financial innovation by private banks from an organizational perspective; (2) providing an economic analysis for private banking development in China. [ABSTRACT FROM AUTHOR]

Achieving the ambitious climate goals established on the international agenda for boosting sustainable development involves significant financial resources. Therefore, the funds allocated by the financial system for green investments should increase globally. Against this backdrop our paper investigates the role of multilateral development banks in promoting green finance, with focus on Romania. The research results underline their engagement to combat climate change and to support sustainable development. The European Investment Bank, The European Bank for Reconstruction and Development and the International Finance Corporation have major contributions in financing green projects in Romania in areas such as energy efficiency, green building, clean transportation, sustainable agriculture. To this end they established some partnerships with Romanian financial institutions, granted financing facilities, invested in the green bonds issued by local banks, provided technical assistance. However, our main finding shows that green finance in Romania is still limited, requiring increased commitments in this area, including from multilateral development banks. [ABSTRACT FROM AUTHOR]

Social media and its use have been studied in many contexts. An area that still needs to be explored is development institutions. This is a viewpoint paper that focuses on Africa. It is intended to wet the ground for a future systematic secondary and empirical study that should investigate the dynamics of using social media in development institutions. [ABSTRACT FROM AUTHOR]