Managing The Constraints To Development Financing

Economic Development Finance is a comprehensive and in-depth presentation of private, public, and community financial institutions, policies and methods for financing local and regional economic development projects. The treatment of policies and program models emphasizes their applications and impact, key design and management issues, and best practices. A separate section addresses critical management issues for development finance programs: program and product design, the lending and investment process, and capital management. Case studies are included throughout the book to help readers de.

This report summarizes research performed by the Department of Civil Engineering on water and revenue loss problems in water utilities commonly referred to as 'unaccounted-for water'. The research was conducted by the principal investigator and graduate students with assistance from Community Consultants, Inc. of Springville, Utah. The American Water Works Association Research Foundation (AWWARF) sponsored this project. The objectives of this effort are to: 1. assess the value of various methods used to measure quantities of water that are lost of not accounted for; 2. provide an appraisal of the techniques available to monitor such losses; 3. suggest standardized definitions for the terms used to describe the types and sources of water and revenue losses; and 4. identify solutions available to utilities to control such losses of water or revenue including generalized benefit/cost analysis of suggested solutions.

This research was made possible with the encouragement,support and assistance of several people. Iam thankful to Art Stoecker, Hong Lee, Su j it Roy,Robert Rouse, and David Upton for their valuable commentsand suggestions, while I worked on my dissertationat Texas Tech University. I am grateful to JoseEmilio G. Araujo and Jose Alberto Torres for grantingme leave from the Interamerican Institute forCooperation on Agriculture (IICA), to complete mystudies at Texas Tech; to Mike Gudger for his encouragementthroughout my work; to Peter Hazell, GustavoArcia and Juan Antonio Aguirre for their comments; toRocio Ramirez, Victor Quiroga and Franklin Ureoa fortheir assistance in processing the data; and to MayraSequeira and Marta Sandino for typing the variousdrafts. Access to the data was guaranteed by theintervention of Virginia Velasquez froro the AgriculturalInsurance Institute and the support ofGeneroso Perez from the Agricultural Development Bankof Panama.

Firms often cite financing constraints as one of their primary obstacles to investment. Global capital flows, by bringing in scarce capital, may ease host-country firms' financing constraints. However, if incoming foreign investors borrow heavily from domestic basnks, direct foreign investment (DFI) may exacerbate financing constraints by crowding host country firms out of domestic capital markets. Combininb a unique cross-country firm-level panel with time-series data on restrictions on international transactions and capital flows, we find that different measures of global flows are associated with a reduction in firm-level financing constraints. First, we show that one type of capital inflow--DFI--is associated with a reduction in financing constraints. Second, we test whether restrictions on international transactions affect firms' financing constraints. Our results suggest that only one type of restriction--those on capital account transactions--negatively affect firms' financing constraints. We also show that multinational firms are not financially constrained and do not appear to be sensitive to the level of DFI. This implies that DFI eases financing constraints for non-multinational firms. Finally, we show that DFI only eases financing constraints in the non-G7 countries.

April 1998 The inadequacy of local funds is a major financing problem in most low-income economies. It is undercutting the absorption of aid and the sustainability of development projects. Focusing on the local financing constraint sheds new light on issues of aid, fiscal reform, and the management of public spending. The fungibility of aid need not translate into resource flows to fill the local financing gap. Indeed, project aid can widen the local financing gap. To augment direct local financing of development, aid must be nonproject aid that can generate local currency. In the longer term, project aid's effect on local financing lies in its impact on growth and on expanding the base for tax revenues, seigniorage, and borrowing. When inadequate local financing limits project implementation and effective use of aid, local currency funds are more valuable than project aid, at the margin-and it becomes important to reallocate local funds, to leverage project aid, and to raise the quality of investment projects. A persistent gap in local financing complicates programs of fiscal reform. For such programs to be effective, the local financing gap has to be confronted directly by matching planned local fund expenditures against expected local fund receipts. This requires a transparent database to develop indicators and to monitor the allocation and use of local resources. This paper-a product of the Macroeconomics Division II, Eastern Africa Department-is part of a larger effort in the department to understand the effectiveness of development expenditures.

This book covers many hot topics, including theoretical and practical research in many areas such as dynamic analysis, machine learning, supply chain management, operations management, environmental management, uncertainty, and health and hygiene. It showcases advanced management concepts and innovative ideas. The 16th International Conference on Management Science and Engineering Management (2022 ICMSEM) will be held in Ankara, Turkey during August 3-6, 2022. ICMSEM has always been committed to promoting innovation management science (M-S) and engineering management (EM) academic research and development. The book provides researchers and practitioners in the field of Management Science and Engineering Management (MSEM) with the latest, cutting-edge thinking and research in the field. It will appeal to readers interested in these fields, especially those looking for new ideas and research directions.

The inadequacy of local funds is a major financing problem in most low-income economies. It is undercutting the absorption of aid and the sustainability of development projects. Focusing on the local financing constraint sheds new light on issues of aid, fiscal reform, and the management of public spending. The fungibility of aid need not translate into resource flows to fill the local financing gap. Indeed, project aid can widen the local financing gap. To augment direct local financing of development, aid must be nonproject aid that can generate local currency. In the longer term, project aid's effect on local financing lies in its impact on growth and on expanding the base for tax revenues, seigniorage, and borrowing.When inadequate local financing limits project implementation and effective use of aid, local currency funds are more valuable than project aid, at the margin - and it becomes important to reallocate local funds, to leverage project aid, and to raise the quality of investment projects. A persistent gap in local financing complicates programs of fiscal reform. For such programs to be effective, the local financing gap has to be confronted directly by matching planned local fund expenditures against expected local fund receipts. This requires a transparent database to develop indicators and to monitor the allocation and use of local resources.This paper - a product of the Macroeconomics Division II, Eastern Africa Department - is part of a larger effort in the department to understand the effectiveness of development expenditures.