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The 14th AFD International Research Conference on Development has started with three Academic Days that took place from 3 to 5 November 2020. This online workshop was dedicated to researchers and experts from academia, think tanks and international organizations. These Academic Days were coorganized by the Institute of New Structural Economics (INSE) at Peking University and the Agence française de développement (AFD). The researchers involved in the International Research Initiative on Public Development Banks (PDBs) working groups and pilot research program have presented their findings. This network of thematically-focused open working groups, involving 28 researchers from 20 institutions across the globe, was launched by the Institute of New Structural Economics (INSE) at Peking University, and sponsored by the Agence française de développement (AFD), Ford Foundation, and the International Development Finance Club (IDFC). In total 15 research papers have already been discussed, covering the five key challenges exposed by the research program: The characterization of SDG-compatible investments; Business models; Governance; The financial regulation of PDBs; The global development finance architecture. During this second session, the following research papers have been presented and discussed : Effective Development Banking: Loans or Guarantees?, by Eduardo Fernández-Arias (Visiting Research Fellow, Peking University); Jiajun Xu (INSE); Matching Risks with Instruments in Development, by Stephany Griffith-Jones (Columbia University); Shari Spiegel (United Nations-Department of Economic and Social Affairs, UNDESA); Jiajun Xu (INSE); Marco Carreras (Institute of Development Studies, IDS); Natalya Naqvi (The London School of Economics and Political Science, LSE); The Allocation of Resources of National Development Banks: Does it Fit Development Goals?, by Laurent Wagner (Foundation for Studies and Research on International Development, FERDI); Checks and Balance, Political Leadership, and Bureaucratic Autonomy: Evidence from National Development Banks, by Tianyang Xi (National School of Development, NSD, Peking University, PKU); Jiajun Xu (INSE); Beichen Huang (NSD, PKU); Financial Performance and Corporate Governance: Evidence from National Development Banks in Africa, by Samantha Attridge (ODI); Yunnan Chen (ODI); Michael Mbate (ODI). For more information and for downloading the research papers: www.afd.fr/en/actualites/agenda/visible-hand-development-banks-transition