 Financing Sustainable Development: What Can We Learn from the Australian Experience of Reform?Wayne Swan
No WP/15/11, MPDD Working Paper Series from United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) Abstract: Finance is fundamental to supporting sustainable development. It drives investment and jobs, which is the way most people escape poverty. The developing world face significant financing needs as they seek to modernise their economies, hence the importance of mobilising all forms of finance (domestic, international, public and private) and ensuring they are put to their most effective use. Financing sustainable development presents many challenges, including the need to balance the desire for growth today with the needs of future generations who face the impact of climate change and increasingly fragile ecosystems. It needs to ensure that growth is inclusive, ensuring that everyone has the opportunity to participate in and benefit from growth. And we need to ensure the benefits of growth reach the most vulnerable as we pursue new and innovative approaches to development finance. Respecting and striking the right balance in relation to each of these challenges is critical to the global effort to secure sustainable development finance. It will be pivotal to the success of the upcoming Addis Ababa conference, and the post-2015 development agenda more generally. Both the private and public sectors have critical roles to play in this process, with the private sector an increasingly important source of finance and development and the public sector also important for investment, the provision of a social safety net, and in providing the enabling economic and regulatory environment for development. The experience of the Asia-Pacific region has been mixed with respect to sustainable development finance. Despite this diversity and stages of development in the region, there are issues and lessons that can inform and guide how we approach the post-2015 agenda in terms of sustainable development finance in the Asia Pacific? This paper considers a number of proposals being developed as part of the Addis Ababa meeting on financing for development and discusses the experience of Australia in pursuing sustainable development. Some of these proposals relate to how countries themselves can expand their access to finance for sustainable development, while others go to how developing nations, international agencies and other stakeholders may support development in the Asia Pacific region. Keywords: Financing; Sustainable Development; public sector; private sector; post-2015; Asia Pacific. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:unt:wpmpdd:wp/15/11 Access Statistics for this paper More papers in MPDD Working Paper Series from United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) Contact information at EDIRC. |
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