The lack of financing options for African firms has led to a reappraisal of the role National Development Banks (NDBs) can play in promoting structural transformation the region. Through an analysis of bank data and policy reports, I argue that the focus on corruption by the mainstream to explain the lacklustre performance of NDBs in developing and emerging economies is overemphasised. Specifically, such arguments fail to account for underlying structural and relational asymmetries between financial sector participants, which make it difficult for NDBs to accomplish their mission. In Côte d’Ivoire, these constraints are characterised by a monetary system inherited from the colonial period that prioritises exchange rate stability over credit creation. The increasing push by International Financial Institutions to commercialise state banking is also causing the main Ivorian NDB (the Banque Nationale d’Investissement) to prioritise financial intermediation over the provision of credit to enterprises in productive sectors.

中文翻译：

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财务紧身衣？科特迪瓦国家开发银行

由于非洲公司缺乏融资选择，人们重新评估了国家开发银行 (NDB) 在促进该地区结构转型方面可以发挥的作用。通过对银行数据和政策报告的分析，我认为主流对腐败的关注来解释新开发银行在发展中和新兴经济体表现不佳的问题被过分强调了。具体而言，这些论点未能解释金融部门参与者之间潜在的结构和关系不对称，这使得新开发银行难以完成其使命。在科特迪瓦，这些限制的特点是继承自殖民时期的货币体系，该体系将汇率稳定置于信贷创造之上。