The Future of Development Finance - Working Paper 250

Nemat Shafik

No 250, Working Papers from Center for Global Development

Abstract: Development finance is at a turning point. There is talk about a “triple revolution of goals, actors and tools.” As much of Asia grows its way out of poverty, aid will increasingly be focused on Africa and on countries plagued by instability, or with governments unable to meet the basic needs of their populations. A growing share of development finance will be directed to tackling global public goods—like climate change, conflict prevention, and public health. Responsibility for addressing global challenges will increasingly be borne by coalitions that cut across states, the private sector, and civil society. These networks to address poverty and global issues will become a feature of the international architecture in a multipolar world. The rules of the game and the tools of development assistance need to evolve to focus on transparency, results, accountability, a market-driven division of labor and flexible partnerships for the future development finance system to become an effective tool of global problem solving.

Keywords: development finance; Asia; global public goods (search for similar items in EconPapers)
Pages: 21 pages
Date: 2011-05
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:cgd:wpaper:250

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