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This study empirically examines China’s development finance to developing countries with a focus on Asia from 2000 to 2012. It uses AidData's Global Chinese Official Finance Dataset, one of the most reliable and publicly available data sources that systematically collects and ifferentiates different types of China’s official development financial flows, to produce descriptive and inferential statistics for Asia, a world region where the rise of China poses unique challenges. Descriptive statistical analysis indicates that South Asia was the largest recipient of China’s ODA-like flows in Asia for the period under study while the majority of China’s OOF-like flows to Asia went to Eastern Europe and Central Asia. In both types of flows, energy, transport, and mining sectors received the bulk of financing. The estimation results show that China’s allocation decisions for its concessional flows in the region have strong motives of pursuing strategic interests while its less concessional flows are committed to more governance-challenged countries. This study also provides detailed discussion of the trends in China’s development finance to Southeast Asia, a subregion which is critical to China’s strategic and economic interests.
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The estimated global trade finance gap is large but stable at $1.5 trillion. • Achieving the SustainableDevelopment Goals is at risk if the persistently large trade finance gap continues to hamper international trade.• More than 70% of surveyed banks see a shortage in servicing the trade finance needs of the global market.• More than 40% of trade finance applications rejected by banks were from small and medium-sized enterprises (SMEs).• Women-owned firms often face additional barriers to access trade finance.• There is still no evidence showing that technology reduces the trade finance gap, but 86% of banks surveyed say they are preparing to service more SMEs using technology.• The lack of global digital standards and laws as well as high cost discourage banks and firms from adopting technology.
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How big is the financing gap to achieve the 2030 sustainable development goals (SDGs)? Can private capital fill the gap? This note provides an updated overview of estimates of SDG financing in low- and middle-income countries and gives an analytical and data-based foundation for discussion. Based on a review of recent studies, as well as International Finance Corporation (IFC's) own calculations of cross-border flow trends, the note documents the ongoing and significant SDG financing gap. Raising taxes to expand public spending is an option for many middle-income countries to fill the gap, but it will be insufficient for low-income countries. Private financing, especially of infrastructure, can also contribute to bridging the gap, but it will depend on the availability of investable projects. Capital market development and improved domestic financial systems can help intermediate more private capital into available investment opportunities.
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India has the third-largest startup ecosystem in the world with an estimated 26,000 startups, 26 “unicorns” (startups valued at over US$1 billion), and US$36 billion in consolidated investments over 2017–2019. The ecosystem has expanded rapidly, mainly through private investments including seed, angel, venture capital, and private equity, along with technical support from incubators/accelerators, and public policy. On its part, the government has tried to create a conducive environment through its flagship Startup India initiative. With India pushing towards a knowledge-based, digital economy, the government is also attempting to deploy ICT infrastructure and provide policy support for enhanced e-governance, investments, and technology innovation through research and funding higher education to spur entrepreneurship and economic growth. Data suggest that the startup ecosystem is largely clustered in large (Tier 1) cities and states with financial depth, more so in IT-enabled sectors including e-commerce, transport, and finance. Despite the progress made so far, Indian startups face huge challenges, such as the unorganized and fragmented nature of consumer and business markets, lack of clear and transparent policy initiatives, lack of infrastructure and access to government incentives (e.g., tax breaks), lack of knowledge and exposure, and complexities in doing business. Increasing awareness of government initiatives and incentives, credit disbursement to priority sectors, promoting outreach and network benefits to Tier 2 and Tier 3 cities, as well as simplifying investment opportunities and taxation rules for foreign and domestic investors could improve opportunities for startups in India.
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In January 2016, the Government of India launched the Startup India initiative, which has transformed the way in which the markets, potential entrepreneurs, and investors view startups. This transformation included a slew of policy measures intended to promote a startup culture and allow younger population members to take risk with their ideas and become "job creators" rather than "job seekers." India's demographic dividend required a suitable channelization of human resources. The Startup Action Plan (SAP) of 2016 proposed to address three key areas for empowering potential startups: (i) hand-holding and simplification; (ii) funding support and incentives; and (iii) incubation and industry–academia partnership. Emerging as the third-largest startup ecosystem of the world, India has potential for enormous growth. There have been several policies at all levels of government, industry, and academia to promote a startup culture. However, it is important to examine these initiatives and determine whether they move beyond the subsidy/tax holiday mindset and work on the root corrections necessary for a robust startup ecosystem. There are several issues that require consideration from the policy and regulatory perspective for a successful startup revolution. This paper explores these initiatives that the Government of India has taken and identifies the gaps that require attention from stakeholders. The paper also investigates the major challenges and potential solutions arising from the Indian experience of initiatives in the startup revolution.
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