Post 2015: Global Action for an Inclusive and Sustainable Future

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CHApTER SEvEn 7 A fundamental question for an ambitious post- 2015 global development framework is how both to raise additional development finance and make it more effective. 106 mOnEy: DEvElOpmEnT FInAnCE 7.1 Introduction and overview of recent trends The global financial crisis intensifies the challenge to increase the volume of development finance. the failure of all but a handful of oEcD countries to reach the 1970 commitment to provide 0.7% of GnI as oDa, and the funding gap for the mDGs, illustrate the existing difficulties. to this can be added the huge cost of financing climate change adaptation and mitigation. a fundamental question for an ambitious post-2015 global development framework is, therefore, how both to raise additional development finance and make it more effective. a first step is to look at recent trends in the main international financial flows. between 2000 and 2008 many developing countries experienced remarkable economic growth, which also boosted government revenues. In sub-Saharan africa (SSa), direct tax revenue as a share of GDp increased during that period by 2.9 percentage points overall, and for the lIcs in the region by up to 3.4 points (afDb, 2012), a trend also observed in parts of asia and latin america. External financial flows to developing countries also increased and became more diversified since the adoption of the mDGs. For instance, oDa to lower middle-income countries (lmIcs) and lIcs EuropEan rEport on DEvElopmEnt 2013 rose steadily (Figure 7.1), while oDa to upper middle-income countries (umIcs) remained almost stable. However, 2010 marked a turning point. In 2011, oDa disbursements dropped by around 2.7% in real terms (oEcD, 2012b). In view of the austerity measures being adopted in many donor countries, this trend is expected to continue for the foreseeable future (oEcD, 2012c). Similarly, FDI to developing countries was gradually increasing until the global financial crisis (Figure 7.2). Inflows dropped most significantly for umIcs, which had been attracting more investment than lmIcs and lIcs, while lIcs generally struggled to attract investment. compared to oDa, FDI has been more volatile and responded more rapidly and dramatically to the financial crisis, but seemed to have recovered by 2010, which suggests a positive trend. portfolio investment flows to developing countries are much lower and more volatile than FDI flows (Figure 7.3). they too slumped in 2008, followed by weak signs of recovery. remittances to developing countries have risen since 2000, although the rate of increase has been far higher in mIcs than in lIcs (Figure 7.4). Following a slight reduction in 2009, remittance transfers quickly regained pre-crisis levels in 2010. comparing the absolute volumes of external flows since 2000, it is clear that globally oDa was surpassed from the start and is unlikely to become more significant in view of the austerity measures
Current USD Billions Current USD Billions 140 120 100 80 60 40 20 - 1,000 800 600 400 200 0 -200 -400 Figure 7.1 Net ODA (2000-2010) Figure 7.2 FDI (net inflows) (2000-2010) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Figure 7.3 Portfolio equity (net inflows) (2000-2010) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 LICs Upper MICs Lower MICs World Source: The author, based on World Bank (2012a Source: The author, based on World Bank (2012a) poSt-2015: Global actIon For an IncluSIvE anD SuStaInablE FuturE Current USD Billions Current USD Billions 2,500 2,000 1,500 1,000 500 - 500 400 300 200 100 - 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Figure 7.4 Remittances (2000-2010) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Between 2000 and 2008 many developing countries experienced remarkable economic growth, which also boosted government revenues. 107
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EUROPEAN REPORT ON DEVELOPMENT 2013
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MOBILISING EUROPEAN RESEARCH FOR DE
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FOREWORD The development road we ha
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ACknOWlEDgEmEnT The European report
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TAblE OF COnTEnTS ACKNOWLEDGEMENT V
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CHAPTER 9. PEOPLE: LABOUR MIGRATION
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Figure 5.2 Evolution of depth of po
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EITI Extractive Industries transpar
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PSG peace-building and state-buildi
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mainly countries in Europe, north a
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ExEcutivE Summary poSt-2015: Global
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ExECuTIvE SummARy poSt-2015: Global
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poSt-2015: Global actIon For an Inc
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THE DEPLOYMENT OF A BROAD RANGE OF
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introduction poSt-2015: Global actI
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2. The case for global collective a
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upon in order to promote a developm
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to achieve inclusive and sustainabl
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contribute to a global framework fo
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Part i. KEEPing thE PromiSE of thE
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mortality, and clean water and sani
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Table 1.2 Non-income MDGs, 1990-201
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Several regions significantly reduc
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Figure 1.1 Sectoral allocation of b
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of tailored objectives that are ins
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policy discourse. In particular, th
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processes and implementation arrang
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NEPAL RWANDA COTE D’IVOIRE PERU E
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• Nepal after over 200 years as a
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Box 2.3 Côte d’Ivoire’s MDG ac
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Declaration and the mDGs, and were
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drive or obstruct poverty-reduction
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Driven by political survival and co
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oader political processes in which
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incentive structures within which e
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partners: their capacities as donor
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Box 2.9 Fragility - Country case ex
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towards the achievement of the mDGs
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3.2 The EU’s role in advancing th
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at the 2010 mDG Summit, un member s
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adopted by individual governments,
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Page 95 and 96: Part ii. thE changing contExt for a
Page 97 and 98: Figure 4.1 Changing global power 20
Page 99 and 100: crops (ErD, 2012). at the same time
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Page 105 and 106: of people living in extreme income
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Page 109 and 110: deprivation, whether directly or th
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Page 113 and 114: vulnerability (ErD 2012). this repo
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Page 123 and 124: due to the so-called arab Spring in
Page 125 and 126: moreover, migration policy can shap
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Page 131 and 132: Table 6.1 Poverty projections expec
Page 133 and 134: 6.3.1 Atmosphere and global warming
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Page 141 and 142: ECONOMY DEMOGRAPHY ENVIRONMENT NEUT
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Page 149 and 150: lmIcs and lIcs (oEcD, 2011b). Figur
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Page 157 and 158: levels of formal education. third,
Page 159 and 160: While the mobilisation of funds fro
Page 161 and 162: Box 7.4 EU blending facilities Sinc
Page 163 and 164: Box 7.5 The toolbox of innovative f
Page 165 and 166: Figure 7.8 Net capital flows to dev
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Page 169 and 170: and financial inclusion (Deuchert a
Page 171 and 172: Box 7.8 Implications for post-2015
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Page 175 and 176: PREDICTABILITY ALLOCATIVE EFFICIENC
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Page 181 and 182: Box 8.1 Joining the flying geese Ka
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Page 191 and 192: Box 8.2 Political economy of commod
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in turn is highly dependent on Eu p
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productive capacity through value-a
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economies are structurally marginal
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impede exports to Eu, which are inc
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fair access to and equitable distri
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lDcs to foster trade growth and ach
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the role for trade and investment p
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labour migration produces remittanc
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the 2008 global financial crisis le
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Macro-economic impact International
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Social impact and psychological wel
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labour during that period. this pro
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Millions 10.4 4 N 3 2 1 0 Mexico-US
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migration programmes (tmps) are usu
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date, four mobility partnerships ha
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labour organization (Ilo) refers to
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workers, point to areas of concern
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9.5.2 Mode IV in the WTO the Wto’
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9.6.2 What a post-2015 framework sh
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concluSionS and rEcommEndationS Thi
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‘how’). this chapter also consi
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and so do not figure much in the go
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tackling global challenges. While s
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10.3.1 Poverty eradication as part
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Box 10.1 Economic and social inclus
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Box 10.2 Youth Employment About 85%
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International development partners
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at the multilateral level, the link
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• South-South Cooperation resourc
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information and evaluation initiati
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for consultative processes to take
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e added later. Equally it would be
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- such as their size and geographic
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(com, 2011). the aid-effectiveness
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Box 10.5 Areas for EU support: Reco
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there will need to be a continuing
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unrISD (2010) Combating Poverty and
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moore, m. (2011) ‘The Governance
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Chapter 4 birdsall, n. (2012) ‘Th
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Kharas, H. and rogerson, a. (2012)
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Kharas, H. and rogerson, a. (2012)
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cobham, a. (2012) ‘tax Havens and
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lall, r. (2011) ‘reforming Global
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unDp (2012) ‘What Is South-South
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Fine, b. (2009) ‘neoliberalism in
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Sindzingre, a. (2009) ‘The impact
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chanda, r. (2004) Movement and Pres
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Kouadio, E.K., ouattara, Y. and Sou
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un-InStraW and SaIIa (2007) Gender,
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Winters, a. and martins, p. (2004)
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Goals and Targets (from the Millenn
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Goals and Targets (from the Millenn
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conflict assessment, which also del
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the case study report suggests that
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in rwanda compared to an average of
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large educated class. Immigration w
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administration, with greater autono
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example, in low increases in tax ef
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AnnEx 3 - CORE pRInCIplES FOR InvES
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MOBILISING EUROPEAN RESEARCH FOR DE
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