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The Financial Paradiplomacy in Emerging Market Countries with Federal Structure

Desafios (Bogotá, Colombia), 2016-01, Vol.28 (1), p.121-163 [Peer Reviewed Journal]

2016. This work is published under http://creativecommons.org/licenses/by-nc/4.0/ (the “License”). Notwithstanding the ProQuest Terms and conditions, you may use this content in accordance with the terms of the License. ;ISSN: 0124-4035 ;EISSN: 2145-5112 ;DOI: 10.12804/desafios28.1.2016.03

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  • Title:
    The Financial Paradiplomacy in Emerging Market Countries with Federal Structure
  • Author: Maia, Jose Nelson Bessa ; Saraiva, Jose Flavio Sombra
  • Subjects: Argentina ; Brazil ; Capital ; Capital markets ; Central government ; Comparative analysis ; Comparative studies ; Credit ; Diplomacy ; Emerging markets ; Federalism ; India ; International finance ; International markets ; Loans ; Mapping ; Mexico ; Policy analysis ; Politics ; Public finance ; Russia
  • Is Part Of: Desafios (Bogotá, Colombia), 2016-01, Vol.28 (1), p.121-163
  • Description: This article engages into a comparative policy analysis through the mapping of the financial paradiplomacy experience in some emerging market countries. The article introduces the concept of financial paradiplomacy, outlines the financial model of paradiplomacy in countries with federal government structures, compares the experience with financial paradiplomacy in four emerging market countries (Argentina, India, Mexico and Russia), and provides an overview of those experiences compared with Brazil. The article concludes that financial paradiplomacy in emerging markets is limited since subnational governments are required to raise funds in the domestic credit markets at costs above the international market and/or having to accept the intermediation role of the respective central governments in order to obtain loans from the international financial organizations; with just a few of emerging market countries whose subnational governments raise funds directly in the global capital market.
  • Publisher: Bogota: Universidad del Rosario, Centro de Estudios Politicos e Internacionales
  • Language: English;French;Spanish;Portuguese
  • Identifier: ISSN: 0124-4035
    EISSN: 2145-5112
    DOI: 10.12804/desafios28.1.2016.03
  • Source: ProQuest Central
    DOAJ Directory of Open Access Journals

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