Globalization of Chinese Development Finance for Energy
The global energy finance China provides through CDB and CHEXIM falls in the category of the country’s official development finance (ODF). To appraise the magnitude of Chinese ODF for foreign energy, this chapter has adopted the data set of China’s Global Energy Finance maintained by the Global Economic Governance Initiative (GEGI) of the Boston University because the official data are not available and its adoption addresses the weaknesses associated with the four independent efforts that track Chinese ODF for energy around. This dataset reveals three stylized facts about Chinese ODF for energy worldwide in 2000–2017. First, it has maintained an overall upward trend for the past eighteen years, with its rapid expansion taking place in the aftermath of the 2007 global financial crisis. Second, it exhibits no distinct geographical pattern but is overwhelmingly titled toward fossil fuels. Finally, CDB dwarfs CHEXIM as a provider of Chinese ODF for energy worldwide.
KeywordsOfficial development aid (ODA) Other official flows (OOF) Official development finance (ODF) Multilateral development banks (MDBs)
- AidData. 2017. “Tracking Underreported Financial Flows Methodology.” AidData. Accessed February 9.Google Scholar
- Boussichas, Matthieu, and Patrick Guillaumont. 2014. “Measuring Official Development Assistance. Why and How to Change.” Ferdi Policy Brief B100: 10. https://hal-clermont-univ.archives-ouvertes.fr/halshs-01109879/document.
- China-Africa Research Initiative. 2018. “Data: Chinese Loans to Africa.” Johns Hopkins University School of Advanced International Studies. Accessed February 9.Google Scholar
- Dreher, Axel, Andreas Fuchs, Bradley Parks, Austin M. Strange, and Michael J. Tierney. 2017. Aid, China, and Growth: Evidence from a New Global Development Finance Dataset. Williamsburg, VA: AidData.Google Scholar
- Gallagher, Kevin P. 2017. China’s Global Energy Finance. Boston: Boston University Global Economic Governance Initiative.Google Scholar
- Gallagher, Kevin P., and Margaret Meyers. 2016. China-Latin America Finance Database. Washington, DC: Inter-American Dialogue.Google Scholar
- Gallagher, Kevin P., Rohini Kamal, and Yongzhong Wang. 2016. “Fueling Growth and Financing Risk: The Benefits and Risks of China’s Development Finance in the Global Energy Sector.” GEGI Working Paper 2: 1–27.Google Scholar
- Jin, Junda, and Kevin P. Gallagher. 2018. “Slowing Down, Powering Up: 2017 Chinese Energy Development Finance.” GEGI Policy Brief, Boston University Global Development Policy Center, Boston.Google Scholar
- Lin, Justin Yifu, and Yan Wang. 2017. Going Beyond Aid: Development Cooperation for Structural Transformation. Cambridge: Cambridge University Press.Google Scholar
- OECD. 2012. What Is ODA? Edited by Development Co-Operation Directorate. Paris: OECD.Google Scholar
- United Nations Committee for Development Policy. 2015. “When Should Concessional Loans Be Reported As ODA?” United Nations, Last Modified January 13. https://www.un.org/ldcportal/when-should-concessional-loans-be-reported-as-oda/. Accessed June 6.
- Xu, Jiajun, and Richard Carey. 2015. Towards a Global Reporting System for Development Cooperation on the SDGs: Promoting Transformational Potential and Impact. Brighton: Institute for Development Studies.Google Scholar