2020 - Development Finance in Fragile States

JRCPPF 9th Annual Conference | February 20-21, 2020

As emerging economies increasingly turn towards private sector financing to fund infrastructure and other development needs, ver low-income, and fragile states face several hurdles in accessing private capital. In such contexts, poor infrastructure, political and economic risks, inefficient regulatory regimes, and weak financial systems, all pose barriers to mobilizing new investment and kick-starting private sector growth. This conference explored some of these challenges, including the role of multilateral development banks and development finance institutions, new instruments to leverage private sector investment, risk management in fragile states, and China’s approach to financing development through the Belt & Road Initiative. Read the conference summary here. (Download the PDF version.)

The Julis-Rabinowitz Center for Public Policy & Finance at Princeton University hosted the conference, with support and co-sponsorship from the Empirical Studies of Conflict Project, the Center for Contemporary China, and the Princeton Institute for International and Regional Studies (PIIRS).

Conference Organizing Committee: Ethan Kapstein, Atif Mian, Jacob Shapiro, Leonard Wantchekon, Pallavi Nuka

Papers, Videos, and Slides

Opening Remarks & SESSION 1: Macro Policy, Capital Flows & Investment

Opening Remarks: Atif Mian, JRCPPF Director & John H. Laporte, Jr. Class of 1967 Professor of Economics, Public Policy and Finance

Moderator: Adrien Matray, Assistant Professor of Economics, Princeton University


Micaela Giorcelli, Assistant Professor of Economics, UCLA
[slides]

Jesse Schreger, Assistant Professor of Business, Columbia Business School [slides]
Brad Setser, Senior Fellow for International Economics, Council on Foreign Relations
Odette Lienau, Professor of Law, Cornell University
KEYNOTE: RAGHURAM RAJAN

Raghuram Rajan, Katherine Dusak Miller Distinguished Service Professor of Finance, Chicago Booth School

https://youtu.be/csowGyIwYsc
SESSION 2: MANAGING RISK IN FRAGILE ENVIRONMENTS

Moderator: Jacob Shapiro, Professor of Politcs & Public Affairs and Director of the Empirical Studies of Conflict Project, Princeton University

Nicola Limodio, Assistant Professor of Finance, Bocconi University [slides]
Tarek Ghani, Chief Economist, International Crisis Group [slides]
Mark Roland Thomas, Director, Country Credit Risk, World Bank [slides]

 The videos for this session are not available.

SESSION 3: NEW FINANCIAL INSTRUMENTS FOR DEVELOPMENT
Moderator: Ethan Kapstein, Visiting Professor and Associate Director of the Empirical Studies of Conflict Project, Princeton University
Neil Gregory, Chief Thought Leadership Officer, International Finance Corporation [slides]
Kruskaia Sierra-Escalante *98, Manager for Blended Finance,  International Finance Corporation [slides]
Christopher Marks *96, Managing Director and Head of Emerging Markets for Mitsubishi UFJ Financial Group (MUFG)
Chris Walker *98, Social Innovations Director, Mercy Corps
KEYNOTE: RACHEL GLENNERSTER

Rachel Glennerster, Chief Economist, UK Department for International Development

SESSION 4: CHINA'S BELT & ROAD INITIATIVE-NEW ROUTES TO DEVELOPMENT FINANCE

Moderator: Rory Truex '07, Assistant Professor of Politics, Princeton University

Maggie Chen, Professor of Economics, George Washington University [slides]
Deborah Bräutigam, Professor in International Political Economy, Johns Hopkins SAIS
Scott Morris, Director of the US Development Policy Initiative, Center for Global Development [slides]