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Journal of Chinese Political Science

Erschienen in:

07.11.2018 | RESEARCH ARTICLE

A New Model of Multilateral Development Bank: a Comparative Study of Road Projects by the AIIB and ADB

verfasst von: Jianzhi Zhao, Yannan Gou, Wanying Li

Erschienen in: Journal of Chinese Political Science | Ausgabe 2/2019

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Abstract

As one of the hallmarks of China’s increasing participation in global economic governance, the establishment of the Asia Infrastructure Investment Bank (AIIB) has been widely studied by scholars and policy circles worldwide. However, most of the existing studies use narrative methods and lack microscopic or macroscopic evidence. By selecting two highly comparable cases, road projects from the AIIB and the traditional multilateral development bank, the Asian Development Bank (ADB), we analyze the management structure, procurement, economy, risk, supervision and safeguard policy framework for both cases. We find that the AIIB mostly aligns with international practices in critical principles but has streamlined project procurement, risk and supervision, which reflects its claim of being “lean” and “clean”. We argue that compared with the ADB, the AIIB is probably more efficient and economically sustainable, which is an improvement on the traditional multilateral development banks (MDBs). However, whether the streamlined procedures lead to higher risks will be tested in time as the AIIB conducts more independent projects in the future.

Vorheriger Artikel Pursuing Soft Power through the Confucius Institute: a Large-N Analysis

Nächster Artikel Social Risk Management at AIIB – Chinese or International Characteristics?

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To be comparable, we compare the documents of the two banks at the project appraisal stage, i.e., after project/concept review paper (CRP) preparation and before project implementation. This approach is mainly because the AIIB project has yet to be fully implemented, and all the available documents are about the project approval stage.

Although it is helpful to compare the general policies initially, we think that it might be not necessary since the project-level policies should align with and reflect the general policies of the two banks. Moreover, the main contribution of our paper is to conduct two case studies at the micro level rather than at bank-level policy. To discuss the differentiations between the AIIB and ADB’s policies in general will compromise our analysis of the micro evidence since the space is quite limited and since the bank-wide policies for both the AIIB and ADB are extremely comprehensive and cover all projects in various sectors. However, we also think that it is worthwhile to compare the differences in bank-wide policies with a separate paper.

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They are Car/Jeep/Van, Three-Wheeler, Two-Wheeler, Bus, LCV, Truck, Articulat Truck, and Tractor.

However, we compared the bank-wide policies of the land acquisition and resettlement issues between the two institutions. Involuntary resettlement is included in the AIIB’s three mandatory environmental and social standards (ESSs). We find that the safeguards on gender issues are relatively not as detailed and specific as the ADB. More information on our comparative study on these bank-wide policies are available upon request.

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Titel: A New Model of Multilateral Development Bank: a Comparative Study of Road Projects by the AIIB and ADB
verfasst von: Jianzhi Zhao
Yannan Gou
Wanying Li
Publikationsdatum: 07.11.2018
Verlag: Springer Netherlands
Erschienen in: Journal of Chinese Political Science / Ausgabe 2/2019
Print ISSN: 1080-6954
Elektronische ISSN: 1874-6357
DOI: https://doi.org/10.1007/s11366-018-9580-5

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Correction to: Social Risk Management at AIIB – Chinese or International Characteristics?