← 論文一覧に戻る

The New development bank and the ecological transition: decoupling development finance from core currency hegemony ?

新開発銀行と生態系移行：開発金融を基軸通貨の覇権から切り離すか？ (AI 翻訳)

E. Godinho, Beatriz Simonetti de Mattos

Revista Tempo do Mundo📚 査読済 / ジャーナル2026-05-20#気候金融Origin: Global経営インパクト: 資金調達対象セクター: finance
DOI: 10.38116/rtm39art3
原典: https://doi.org/10.38116/rtm39art3

🤖 gxceed AI 要約

日本語

BRICS主導の新開発銀行（NDB）が、現地通貨での開発融資を通じてドル・ユーロ依存を減らし、生態系移行を促進する可能性を検討。2016〜2024年のプロジェクトを分析し、持続可能なインフラへの融資は進むが、通貨面では依然として基軸通貨に依存していると指摘。中国と南アフリカのみが自国通貨を活用。多極的な金融システムへの一歩だが、制度改革と政治的コミットメントが必要。

English

This paper examines whether the New Development Bank (NDB), established by BRICS, can reduce dependency on core currencies (USD, EUR) by financing in local currencies, thereby fostering an ecological transition. Analyzing the NDB's project portfolio from 2016 to 2024, it finds that while sustainable infrastructure funding has increased, operations remain largely embedded in dominant currency systems, with only China and South Africa leveraging national currencies. The NDB represents a step toward a multipolar financial system, but systemic change requires institutional reforms and expanded local currency financing.

Unofficial AI-generated summary based on the public title and abstract. Not an official translation.

📝 gxceed 編集解説 — Why this matters

日本のGX文脈において

日本のGX文脈では、開発金融機関の通貨戦略が気候資金の流れに与える影響は、日本の国際協力やアジアのインフラ輸出に関連する。特に、円建て融資や現地通貨建ての気候資金供給の可能性を考える上で示唆に富む。

In the global GX context

This paper contributes to global discussions on transition finance and the role of development banks in climate action. It highlights how currency hierarchies can constrain the financing of ecological transitions, relevant for ISSB and transition finance frameworks that aim to mobilize capital for sustainable development.

👥 読者別の含意

🔬研究者:Provides a framework linking currency hierarchies to ecological transition financing, useful for scholars of development finance and climate policy.

🏢実務担当者:Offers insights for financial institutions and corporations on the strategic use of local currency financing in sustainable projects.

🏛政策担当者:Informs policymakers about the limitations of current development finance structures and the need for institutional reforms to support local currency climate finance.

📄 Abstract（原文）

This paper investigates the role of the New Development Bank (NDB) in challenging global financial hierarchies while fostering an ecological transition. The NDB, established by the BRICS nations, has a mechanism of providing development finance in local currency, which could reduce dependency on core currencies like the dollar (USD) and euro (EUR), offering an alternative for peripheral economies to finance sustainable development. Given the institutionalization of the green economy agenda and the rise of green finance, the paper raises elements to assess whether the NDB effectively contributes to the ecological transition through its investment strategy. The analysis builds on structuralist and dependency theories, identifying three interlinked hierarchies – productive, currency, and environmental – that shape global financial asymmetries. Then, the NDB’s project portfolio from 2016 to 2024 is analysed, focusing on the interplay between the projects’ area of operation, currency of funding, and country of implementation. The findings indicate that, while the NDB has made strides in funding sustainable infrastructure, its operations remain largely embedded within dominant currency systems. Only China and, to a lesser extent, South Africa have successfully leveraged national currencies, whereas other BRICS and partner countries remain heavily reliant on core currencies. Ultimately, while the NDB represents an important step toward a multipolar financial system, its potential to drive systemic change hinges on further institutional reforms, political commitment and expanded local currency financing – which is in line with the funding trends observed in the last years of NDB’s operations.

🔗 Provenance — このレコードを発見したソース

🔔 こうした論文の新着を逃したくない方は キーワードアラート に登録（無料・3キーワードまで）。

gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。