Policy innovation for sustainable development: the case of the Amazon Fund

João Carlos Ferraz, Juliana Santiago () and Luma Ramos ()
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João Carlos Ferraz: Universidade Federal Do Rio de Janeiro
Juliana Santiago: University of Florida
Luma Ramos: Boston University, Global Development Policy Center

Review of Evolutionary Political Economy, 2023, vol. 4, issue 1, 109-136

Abstract: Abstract For its “long, winding roads (Thanks, The Beatles!)” and unknown challenges, fostering sustainable and inclusive development requires new public intervention models. For that, the critical assessment of existing innovative policy experiments, their outcomes and determinants, is important not only to strengthen our knowledge base but also to inspire sound development-oriented policies, including green industrial policies. Based on an experimental analytical framework, this article analyses an original policy instrument in Brazil, the Amazon Fund (AF), during the 2008–2021 period. This article demonstrates that the Fund’s positive impacts on sustainable development are largely due to its three interconnected innovative dimensions (multistakeholder governance, donor-based pay-for-performance funding, and non-reimbursable financing of projects by the Brazilian Development Bank, BNDES). With hindsight, the article sheds light on the fundamental role of political decisions and the vital role played by different stakeholders in shaping or reversing the works of policy design, making, and implementation.

Keywords: Policy innovation; Sustainable development; Development finance; Amazon Fund; Industrial policy; Multistakeholder governance (search for similar items in EconPapers)
JEL-codes: P48 Q28 Q56 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s43253-023-00092-z

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