2015 is a watershed year for international development with the world set to agree a set of Sustainable Development Goals and a new climate change agreement that will apply to all countries.
It signals a new era of development which is no longer simply characterised by the transfer of aid from rich to poor countries, but by progressive economic, social and political change for all countries. But this progress comes at a cost, and adequate financial resources are essential to underpin these ambitious plans.
This IDS Virtual Bulletin looks back over four decades of research and analysis on international development cooperation from academic experts including the issue editor, international economist Stephany Griffith-Jones, Vice President of the African Development Bank Mthuli NCube, former OECD Deputy Director Richard Carey and former World Bank candidate and United Nations Under-Secretary-General for Economic and Social Affairs José Antonio Ocampo.
It provides a unique insight into the lessons from the East Asian currency and banking crisis in 1997 and the global financial crisis of late 2000s that can be used to inform ongoing reform of global financial systems and their governance. It also offers some timely reflections on how world leaders and the development community need to plan for the future in a world where “China has emerged in the last decade as a globally pre-eminent source of development finance” (Carey and Xu) and where growing private sector investment in Africa, as Mthuli Ncube points out, can be harnessed to address the “infrastructure deficit”.
Click on each title to download the full text.
Financial Vulnerability in Asia Stephany Griffith-Jones and Ricardo Gottschalk
Tackling Instability in Financial Markets with a PanicTax Neil McCulloch
China’s Development Finance: What Issues for Reporting and Monitoring Systems? Jiajun Xu and Richard Carey
Monetary and Financial Policy in South Africa: Redistribution through the Financial System? Charles Harvey and Carolyn Jenkins
Public Finance: Expenditure Allocating, Resources Raising Reginald Herbold Green
The East Asian Crisis: A Global Problem Requiring Global Solutions Keith Bezanson and Stephany Griffith-Jones
Is there Progress Towards a Development-orientated International Financial System?Stephany Griffith-Jones and José Antonio Ocampo