International Financial Architecture as a Global Public Good
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Many of today’s issues were on the table 20 years, when Anthony Atkinson led a UNU-DESA/UNU-WIDER on ‘Innovative Development Finance’, at the request of the UN-General Assembly (ECOSOC). Specifically: taxing global public ‘bads’ to invest in global public ‘goods’ (especially climate action); increasing SDR allocations; mobilizing new sources of development finance (blending official and private capital and leveraging more private finance using ODA); Tobin taxes; debt relief (HIPC especially); policy conditionality attached to multilateral and bilateral finance; and more. At the time (UN’s F4D Summit in Monterrey, March 2002) there were very large estimates of the financing needed for the Global South. These are even bigger today, not least because of the still (largely unmet) need for climate finance
Author: Tony Addison
Roundtable: International Financial Architecture
Year: 2022