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Replication Data for: The Impact of China's AIIB on the World Bank

Harvard Dataverse (Africa Rice Center, Bioversity International, CCAFS, CIAT, IFPRI, IRRI and WorldFish)

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Title Replication Data for: The Impact of China's AIIB on the World Bank
 
Identifier https://doi.org/10.7910/DVN/2TC5TK
 
Creator Qian, Jing
Vreeland, James Raymond
Zhao, Jianzhi
 
Publisher Harvard Dataverse
 
Description The World Bank, under the stewardship of the United States, stands out as the global leader among international development organizations. Does China's establishment of the Asian Infrastructure Investment Bank (AIIB) undermine this status? Examining this question, we focus on the borrowing practices of a special set of countries: the founding members of the AIIB. These founders openly defied the public preference of the United States, arguably to create a potential rival to the World Bank. Using a new model of causal inference --- the Dynamic Multilevel Latent Factor Model (Pang et al. 2022) --- as well as several well-known estimation models as robustness checks, we document at least a temporary decrease in the number of World Bank infrastructure projects that the developing AIIB founders enter into. The study represents the first systematic evidence that China's AIIB could unsettle the political influence the United States has enjoyed over developing countries through its leadership of the World Bank. An important set of countries may be parting ways with the World Bank and looking towards a Chinese institution for leadership in the world of development.
 
Subject Social Sciences
 
Contributor Qian, Jing