Hide
Раскрыть
 
INTERNATIONAL
ORGANISATIONS
RESEARCH
JOURNAL



ISSN (Print) 1996-7845

ISSN (Online) 2542-2081


Contacts:

Postal address:  20, Myasnitskaya str., Moscow, Russia 101000
National Research University Higher School of Economics
International Organisations Research Journal (IORJ) editors office

Actual address: office 417, bld. 17, Malaya Ordynka,  Moscow
Tel.+7 495 772-95-90 ext. 23147 

E-mail: iorj@hse.ru

Indexed in 

    


   

 
 

Alexandra Morozkina 1
  • 1 Financial Research Institute, Ministry of Finance of the Russian Federation, 3 b.2 Nastasyinsky Lane, Moscow, 127006, Russia

The New Development Bank in Global Finance and Economic Architecture

2015. Vol. 10. No. 2. P. 89–105 [issue contents]
The article addresses the question whether the New Development Bank (NDB) will promote the role of the BRICS countriesin the global financial architecture and foster their development. It begins by comparing the key multilateral developmentbanks (World Bank, Asian Development Bank, African Development Bank and Inter-American Development Bank,European Bank for Reconstruction and Development) and national development banks of the BRICS countries with thenewly established institution. The NDB’s purpose is to mobilize resources for infrastructure and sustainable developmentprojects in the member countries. This purpose, as author concludes on the base of the analysis, partly duplicates the workof the existing institutions. However, the NDB could add to the functions of the existing institutions and become a significantdevelopment bank for its members. The best way to achieve this significance is to implement multilateral projects in the areasmentioned above. The article also examines the current role of the BRICS countries in the global financial architecture andthe potential for an increased role, brought by the establishment of the BRICS bank. The founding countries of the NDB willjointly determine the volume and directions of its financial aid. In addition, in contrast to the Bretton Woods institutions,the BRICS countries can change the rules of the development financial aid, particularly the conditions and system formonitoring results. The article concludes that the BRICS countries have created a possible way to change the current systemof development finance and therefore to increase the role of the BRICS countries in the global financial architecture.
Citation: Morozkina A. (2015The New Development Bank in Global Financeand Economic Architecture. International Organisations Research Journal, vol. 10, no 2, pp. 89-105 (in Russian and English). DOI: 10.17323/1996-7845-2015-02-89.
BiBTeX
RIS
 
Rambler's Top100 rss