A Country-Level Analysis of Worldwide Official Financing by International Financial Institutions
This study aims to evaluate worldwide official financial flows by international financial institutions to selected 123 countries of the world. The design of the study is composed of a review of literature elicited from research databases, extraction of secondary data of World Development Indicators (WDI) 2020, and mathematical analysis. In real time, cross-sectional country-level data, a classical process of Grey Relational Analysis (GRA) has been applied. Results of the study show that Argentina, Ethiopia, Bangladesh, India, Egypt, Arab Rep., Kenya, Costa Rica, Vietnam, Chad, Tanzania, Colombia, Uzbekistan, Nepal, Indonesia, Nigeria, Rwanda, Cameroon, and Uganda have exceptionally high grey relational grade meaning thereby, having an effective system of obtaining official international financial flows. Zimbabwe, Russian Federation, Botswana, Afghanistan, Bulgaria, South Africa, Burundi, Belarus, Kazakhstan, Armenia, Pakistan, Peru, Romania, and Ukraine have poor grey relational grade meaning thereby, having a relatively weak system of obtaining official financial flows. It is a unique study that provides extensive information on the official financial flows of more than a hundred countries of the world and provides the basis for the informed opinion of policymakers, political governments, economic policymakers, researchers, and academia. It also provides valuable information useful for international financial institutions.