1945

External private sector financial flows

The external development finance scene has changed considerably over recent decades in terms of the array of agents providing financing, the funding mechanisms used and the composition of financial flows. Analysis of the evolution of development finance flows reveals a clear fall-off in traditional flows such as official development assistance (ODA) in middle-income countries, including those of Latin America, with average ODA flows dropping from over 1% of regional GDP to 0.2% in the period from 1961 to 2014. This decline has been due to the logic driving the allocation of official assistance, which relies on per capita GDP as the sole indicator of a country’s economic and social development, with the result that low-income countries are favoured over middle-income ones such as those of Latin America and the Caribbean.

Related Subject(s): Economic and Social Development
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