The Visible Hand: Development banks in Transition

Academic Days

The 14th AFD International Research Conference on Development has started with three Academic Days that will take place from 3 to 5 November 2020. This online workshop was dedicated to researchers and experts from academia, think tanks and international organizations. These Academic Days were coorganized by the Institute of New Structural Economics (INSE) at Peking University and the Agence française de développement (AFD).

The researchers involved in the International Research Initiative on Public Development Banks (PDBs) working groups and pilot research program have presented their findings. This network of thematically-focused open working groups, involving 28 researchers from 20 institutions across the globe, was launched by the Institute of New Structural Economics (INSE) at Peking University, and sponsored by the Agence française de développement (AFD), Ford Foundation, and the International Development Finance Club (IDFC).

In total 15 research papers have already been discussed, covering the five key challenges exposed by the research program: The characterization of SDG-compatible investments; Business models; Governance; The financial regulation of PDBs; The global development finance architecture

Open Discussion Days

On 9 and 10 November, the Open Discussion Days have gathered more than 700 participants: researchers, Public Development Banks representatives and other stakeholders to reflect. To talk about what? To discuss the key role development banks could play, in the light of the current crisis, for building an efficient global, development-oriented finance architecture.

The online public conference aimed to deliver concrete policy recommendations to decision-makers, on how to scale up development banks’ potential at achieving the Sustainable Development Goals (SDGs), and pave the way forward to a more responsible and sustainable recovery of our economic systems. The International Research Initiative on Public Development Banks (PDBs) working groups have also presented their work and findings.

High-level speakers included senior officials from development banks, in particular members of the International Development Finance Club (IDFC) and the World Federation of Development Finance Institutions (WFDFI), as well as renowned economists and researchers. We are proud to count Nobel Prize in Economics Joseph Stiglitz, and Masood Ahmed, chief executive officer of the CGDev as our distinguished keynote speakers.

 

Download the booklet with the final agenda and all our speakers

 

OUR SPEAKERS

Download the list of our speakers with their biographies

Among our speakers:

• Masood AHMED 
  
  President, Center for Global Development 
• Emmanuelle ASSOUAN
  
  Deputy Director General for financial stability and operations,  Banque de France 
• Samantha ATTRIDGE 
  
  Senior Research Fellow, ODI
• Manish BAPNA
  
  Executive Vice President And Managing Director, WRI
• Lavinia BARROS DE CASTRO
  
  Manager, BNDES – The Brazilian Development Bank
• Bruno CABRILLAC 
  
  Deputy Director General Statistics Economics and International, Banque de France 
• Serge EKUÉ 
  
  President, West African Development Bank (BOAD)
• Kevin GALLAGHER 
  
  Professor and Director, Global Development Policy Center, Pardee School of  Global Studies, Boston University
• Ricardo GOTTSCHALK
  
  Senior Economist, Resident Coordinator Office (RCO), South Africa, United Nations
• Stephany GRIFFITH-JONES
  
  Financial Markets Director, Initiative for Policy Dialogue, Columbia University; Emeritus Professorial Fellow, Institute of Development Studies, Sussex University
• Sergio GUSMÃO SUCHODOLSKI
  
  CEO, Development Bank of Minas Gerais
• Ulrich HEGE
  
  Professor and Vice President, Toulouse School of Economics
• Robert HOCKETT
  
  Professor of Law & Finance, Cornell University
• Fritzi KÖHLER-GEIB
  
  Chief Economist, KfW Group
• Alexia LATORTUE
  
  Managing Director for Corporate Strategy, European Bank for Reconstruction and Development (EBRD)
• Nancy LEE  
  
  Senior Policy Fellow, Center for Global Development
• Régis MARODON
  
  Senior Advisor on sustainable finance, Agence française de développement 
• Mariana MAZZUCATO 
  
  Professor in the Economics of Innovation and Public Value, University College London’s Institute for Innovation and Public Purpose 
• Ahmadou Aly MBAYE 
  
  Professor of economics and president, Cheikh Anta Diop University of Dakar
• Thomas MELONIO
  
  Executive Director for Innovation, Research and Knowledge, Agence française de développement
• José Antonio OCAMPO
  
  Professor, Columbia University
• Carmen REINHART 
  
  Chief Economist and Vice President, World Bank Group 
• Rémy RIOUX 
  
  Chief Executive Officer, Agence française de développement (AFD) ; Chairman, International Development Finance Club (IDFC) 
• Alfredo SCHCLAREK CURUTCHET
  
  Associate Researcher, National Scientific and Technical Research Council (CONICET), Argentina 
• Haje SCHÜTTE
  
  Senior Counsellor and Head of the Financing for Sustainable Development Division, OECD
• Shari SPIEGEL
  
  Chief of Policy Analysis and Development, Financing for Sustainable Development Office, Department of Economics and Social Affairs, United Nations
• Lord Nicholas STERN 
  
  IG Patel Professor of Economics and Government and Chair of the Grantham Research Institute on Climate Change and the Environment, London School of Economics
• Joseph STIGLITZ
  
  University Professor and Economist, Columbia University 
• Admassu TADESSE
  
  President and Chief Executive, Trade and Development Bank
• Sébastien TREYER
  
  Executive Director, IDDRI 
• Jiajun XU
  
  Executive Deputy Dean, Institute of New Structural Economics at Peking University 
• Wencai ZHANG
  
  Vice President, Agricultural Development Bank of China (ADBC)

OUR PARTNERS

This conference has taken place in the framework of the Finance in Common Summit, the first global meeting of all public development banks.

It was organized with the academic support of the lnstitute of New Structural Economics at Peking University (INSE), the lnstitute for Sustainable Development and lnternational Relations (lDDRl) and of the Foundation for Studies and Research on International Development (FERDI).

Partenaires

In sharp contrast with the worldwide renaissance of development banks, there is limited academic research examining their roles, operations, and effectiveness. The pilot research program “Realizing the Potential of Public Development Banks for Achieving Sustainable Development Goals” aims to fill this gap, and deliver concrete policy recommendations on how to scale up public development banks (PBDs) potential at achieving the Sustainable Development Goals (SDGs). The academic research focuses on five major themes:

• The characterization of SDG-compatible investments
• Business models
• Governance
• The financial regulation of PBDs
• The global development finance architecture

This research program was launched, along with the International Research Initiative on Public Development Banks (PDBs), by the Institute of New Structural Economics (INSE) at Peking University, and sponsored by the Agence française de développement (AFD), Ford Foundation and International Development Finance Club (IDFC).

It is coordinated by Jiajun Xu, Executive Deputy Dean at the Institute of New Structural Economics (INSE) at Peking University ; Stephany Griffith-Jones of Columbia University ; and Régis Marodon, Special Adviser on Sustainable Finance at the Agence française de développement (AFD). 

 

Find out more about the research program

All the working papers published under this research program, listed below, are available for free downloading. For each research paper, you can also read a overview in two pages, and watch a short video.

Overview

• 10 policy recommendations for decision makers on Public Development Banks, Stephany Griffith-Jones (iPD, Columbia University), Régis Marodon (AFD), Jiajun Xu (INSE, Peking University) (This general synthesis of the whole research results will soon be available)
• Can development banks step up to the challenge of sustainable development? Régis Marodon (Agence française de développement, AFD)
  
  Have a look on the key findings 
  
  See the video pitch

Inclusion of Development Banks in the Global Financial Architecture

• Exchange Rate and Balance of payment risks in the Global Development Finance Architecture, Alfredo Curutchet Schclarek (National Scientific and Technical Research Council, Argentina); Jiajun Xu (INSE)
  
  Have a look on the key findings
  
  See the video pitch
  
   
• The Global Development Banks’ Architecture, José Antonio Ocampo (School of International and Public Affairs, SIPA, Columbia University)
  
  Have a look on the key findings
  
  See the video pitch
  
   
• From global to local: subnational development banks in the era of Sustainable Development Goals, Sergio Gusmão Suchodolski (Development Bank of Minas Gerais, BDMG); Adauto Modesto Junior (BDMG); Cinthia Helena de Oliveira Bechelaine (BDMG)
  
  Have a look on the key findings
  
  See the video pitch
  
   

Business Model of Development Banks

• Matching Risks with Instruments in Development Banks, Stephany Griffith-Jones (Columbia University); Shari Spiegel (United Nations-Department of Economic and Social Affairs, UNDESA); Jiajun Xu (INSE); Marco Carreras (Institute of Development Studies, IDS); Natalya Naqvi (The London School of Economics and Political Science, LSE)
  
  Have a look on the key findings
  
  See the video pitch
• The allocation of resources of National Development Banks: Does it fit development goals? Laurent Wagner (Foundation for Studies and Research on International Development, FERDI)
  
  Have a look on the key findings 
  
  See the video pitch
• Effective Development Banking: Loans or Guarantees?, Eduardo Fernández-Arias (Visiting Research Fellow, Peking University); Jiajun Xu (INSE)
  
  Have a look on the key findings
  
  See the video pitch

Characterization of SDG-compatible investments

• Piloting and Scaling Up Clean Energy Transitions: The Role of Development Finance Institutions, Samantha Attridge (ODI); Jiajun Xu (Institute of New Structural Economics, Peking University, INSE); Kevin Gallagher (Boston University)
  
  Have a look on the key findings
  
  See the video pitch
• Climate Change and Development Bank Project Cycles, Harvey Himberg (Green Climate Fund); Kevin Gallagher (Boston University); Jiajun Xu (INSE)
  
  Have a look on the key findings
  
  See the video pitch
• Scaling up public Development Banks’ transformative alignment with the 2030 Agenda, Maria Alejandra Riaño (Institute for Sustainable Development and International Relations, IDDRI); Jihane Boutaybi (IDDRI); Damien Barchiche (IDDRI); Sébastien Treyer  (IDDRI)
  
  Have a look on the key findings
  
  See the video pitch

Regulatory frameworks

• Financial regulation of National Development Banks, Ricardo Gottschalk (United Nations Conference on Trade and Development); Lavinia Barros (The Brazilian Development Bank, BNDES); Jiajun Xu (INSE) 
  
  Have a look on the key findings
  
  See the video pitch
• Carbon Policies and Climate Financial Regulation, Ulrich Hege (Toulouse School of Economics, TSE); Frédéric Cherbonnier (TSE)
  
  Have a look on the key findings
  
  See the video pitch

Governance

• Financial performance and Corporate Governance: Evidence from National Development Banks in Africa, Samantha Attridge, Yunnan Chen, Michael Mbate (ODI)
  
  Have a look on the key findings
  
  See the video pitch 
• Checks and balance, Political Leadership, and Bureaucratic Autonomy: Evidence from National Development Banks, Tianyang Xi (National School of Development, Peking University, PKU); Jiajun Xu (INSE)
  
  Have a look on the key findings
  
  See the video pitch

PDB Database Building Flagship Reports 

• Identifying and Classifying PDBs and DFIs, Jiajun Xu, Régis Marodon, Xinshun Ru
  
  See the video pitch
• Funding Sources of National Development Banks, Jiajun Xu, Kedi Wang, Xinshun Ru
  
  Have a look on the key findings
  
  See the video pitch

You can see the Open Discussion Days debates and presentations in video.

Open Discussion Day 1 (9 November 2020)

Open Discussion Day 2 (10 November 2020)