International Finance and Development

Informationen zum Autor Jose Antonio Ocampo is the UN Under-Secretary General for Economic and Social Affairs. Jan Kregel was Chief of the Policy Analysis and Development Branch of the Financing For Development Office in the Department of Economic and Social Affairs (DESA) in the United Nations Secretariat. Stephany Griffith-Jones is Professorial Fellow at the Institute of Development Studies at the University of Sussex, and worked at DESA in 2005." Klappentext This is a comprehensive and unique survey of how the relationship between finance and economic development has changed since the historic Monterrey Consensus of the International Conference on Financing for Development in 2002. It has become clear that mechanisms are needed to ensure that international private capital flows, including FDI, enhance productive investments and thereby contribute to development. Recent trends in official development financing offer some grounds for optimism, although many developing countries are constrained by their the external debt problems, and this book will play a key role in critically assessing recent policies and proposing constructive ways forward. The final part on systemic issues highlights new concerns and the modest progress so far. Zusammenfassung Presents a comprehensive survey of how the relationship between finance and economic development has changed since the historic Monterrey Consensus of the International Conference on Financing for Development in 2002. Inhaltsverzeichnis OVERVIEW International Private Capital Flows; Official Development Financing; External Debt; Systemic Issues CHAPTER I - International Private Capital Flows Main Features of Private Flows to Developing Countries; Foreign Direct Investment; Trends and composition of foreign direct investment; How stable is FDI?; Particular benefits of FDI; Financial Flows; Bank credit Portfolio flows; Impact of derivatives; Measures to Counter Pro-cyclicality of Private Capital Flows; Counter-cyclical financing instruments; Prudential capital account regulations; Counter-cyclical prudential regulation; Basel II and developing countries; A Greater Challenge: Encouraging Private Flows to Lower-Income Developing Countries CHAPTER II - Official Development Financing Official Development Assistance; The origins and weakening of the commitment to ODA; The resurgence of ODA; ODA and the Millennium Development Goals; Volatility and conditionality of aid flows; Selectivity of aid flows; Aid effectiveness; Donor efforts to increase aid effectiveness; The Multilateral Development Banks; The role of multilateral development banks; Structure and trends; The debate around the multilateral development banks; The way forward; South-South Cooperation; Innovative Sources of Financing; Major mechanisms in the short run; Major mechanisms in the longer run CHAPTER III - External debt Debt and development; The post-war approach to lending to developing countries; Rapid external borrowing and debt rescheduling in the 1960s and 1970s; Debt resolution in the 1980s; Debt relief; The Heavily Indebted Poor Countries (HIPC) Initiative; The Multilateral Debt Relief Initiative; New measures for official debt relief for middle-income countries (Evian approach); Debt sustainability; Debt sustainability analysis for low-income countries; An assessment of debt sustainability analyses; Debt resolution and debt relief involving private creditors; New approaches and initiatives CHAPTER IV - Systemic issues Global macroeconomic imbalances and the international reserve system; Changes in the structure of global financial markets; Risk implications of changes in global financial markets; Implications for prudential regulation and supervision; Crisis prevention and resolution; Domestic macroeconomic policies; Surveillance of national macroeconomic policies; The role of emergency financing and precautionary financial arrangements; Strengtheni...

Product details

• Authors: Jose Antonio Kregel Ocampo
• Assisted by: Stephany Griffith-Jones (Editor), Jan Kregel (Editor), Jose Antonio Ocampo (Editor)
• Publisher: Zed Books
• Languages: English
• Product format: Hardback
• Released: 28.03.2007
• EAN: 9781842778616
• ISBN: 978-1-84277-861-6
• No. of pages: 224
• Subject: Social sciences, law, business > Business > International economy