Why Private Funding Is Not Enough

Rudi Dornbusch suggests that intergovernmental financing is less necessary in these days of buoyant capital flows to developing countries ("Do we really need the World Bank anymore?" Economic Viewpoint, Feb. 24). Why use public funds, Dornbusch asks, if private funds can do a perfectly adequate job? The answer is threefold:

To continue reading this article you must be a Bloomberg Professional Service Subscriber.