The New Public Finance: Responding to Global Challenges

Paperback | October 31, 2005

byInge Kaul, Pedro Conceicao

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The world's agenda of international cooperation has changed. The conventional concerns of foreign affairs, international trade, and development assistance, are increasingly sharing the political center stage with a new set of issues. These include trans-border concerns such as global financialstability and market efficiency, risk of global climate change, bio-diversity conservation, control of resurgent and new communicable diseases, food safety, cyber crime and e-commerce, control of drug trafficking, and international terrorism and weapons of mass destruction. Globalization andincreasing porosity of national borders have been key driving forces that have led to growing interdependence and interlocking of the public domains--and therefore, public policy concerns--of countries, governments, private businesses, civil society, and people at large. Thus, new and differentissues are now occupying top places on national policy agendas, and consequently, on the agendas of international negotiating forums. The policy approaches to global challenges are also changing. A proliferation and diversification of international cooperation efforts include focus on financingarrangements. Financing of international cooperation in most instances is a haphazard and non-transparent process and often seems to run parallel to international negotiations. There are many unfunded mandates and many-non-mandatory funds. To agree on and to achieve international economic goals, we need to understand how financing of international cooperation efforts actually works. Our understanding is hampered by two gaps: 1) lack of an integrated and cohesive theoretical framework; 2) lack of consolidated empirical and operationalknowledge in the form of a comprehensive inventory of past, current and possible future (i.e. currently deliberated) financing mechanisms. This book reduces these two gaps and provides a guide to improve our ability to finance international cooperation.

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The world's agenda of international cooperation has changed. The conventional concerns of foreign affairs, international trade, and development assistance, are increasingly sharing the political center stage with a new set of issues. These include trans-border concerns such as global financialstability and market efficiency, risk of gl...

Inge Kaul is at United Nations Development Programme. Pedro Conceicao is at United Nations Development Programme.

other books by Inge Kaul

Format:PaperbackDimensions:688 pages, 6.1 × 9.21 × 1.5 inPublished:October 31, 2005Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0195179978

ISBN - 13:9780195179972

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Table of Contents

Foreword1. Introduction: What this Book is About2. The Main MessagesPART I: The New National Public Finance--Taking the Outside World into Account3. Inge Kaul: The Rise of the Intermediary State4. Vito Tanzi: Making Social Policy under Efficiency Pressures from Globalization5. Peter Heller, International Monetary Fund: Addressing Long-term Fiscal Challenges in an Interconnected World6. Robert Shiller, Yale University: Macro Markets: Managing Risks to National Economies7. Peggy Musgrave: National Taxation in a Globalizing World: Policy Sovereignty and Coordination8. Todd Sandler: Recognizing the Limits to Cooperation behind National Borders: Financing the Control of International TerrorismPART II: The New International Public Finance--Relying on Public-Private Partnering9. Inge Kaul: The New Players on the Ground: Global Public-private Partnerships10. Pedro Conceicao: Financing Mechanisms for International Cooperation: Growing Numbers, Diversity and Issue-Specificity11. Pedro Conceicao, Hari Rajan, Rajiv Shah: The Right Money at the Right Time: Bringing New Financing Technology to International Cooperation12. Philip Jones: Financing International Cooperation: A Public Choice AnalysisPART III: The New International Public Finance--Investing in Global Public Goods Provision Abroad13. Pedro Conceicao and Ronald Mendoza: Identifying High-Return Investments: When Does International Cooperation Pay--and for Whom?14. Scott Barrett: Making International Cooperation Pay: Money as a Strategic Incentive15. Kenneth King, World Bank: "Trading" Global Public Services: The Incentive of Incremental Cost Payments16. Richard Sandor: Letting New Markets Find the Price: A Case Study of The Chicago Climate Exchange17. Wyn Morgan: Using Existing Markets More Efficiently: Facilitating Access of developing Countries to Commodity Futures and Options Markets18. Jaques Polak and Peter B. Clark, both from the International Monetary Fund: A New Perspective on the SDR Mechanism: Reducing the Cost of Holding Reserves19. Barry Eichengreen, University of California, Berkeley: Restructuring Unsustainable Sovereign Debt: The Merits of the Contractual and the Statutory Approach20. Brigid Laffan: Excursus: Public Finance in the European Union: Emerging Lessons for International CooperationPART IV: The New International Public Finance--Incentivizing Foreign Aid21. Yilmaz Akyuz: Some Things Cannot Yet Change: The Continuing Need for Multilateral Development Finance22. Paul Collier, Oxford University: Creating Incentives to Graduate from Grants to Loans23. Steven Radelet, Center for Global Development: Offering Challenge Grants: The MCA24. Nancy Birdsall: Overcoming Smallness: The Challenge of Underfunded Regionalism25. Michael Kremer and Alix Peterson-Zwane, University of California, Berkeley: Purchase Commitments: Incentives for Private Sector Involvement in Poverty Reduction26. Stephany Griffith-Jones: From Direct to Indirect Donor Financing: The Role of Guarantees in Attracting private Finance to Developing Countries

Editorial Reviews

"This collection offers a useful mix of public policy theory and practical applications. It serves as a worthwhile guide to how policy areas (e.g., the environment, economic development, and international debt) should be addressed and provides practical ideas about how to achieve internationalpublic policy goals. Recommended."--Choice