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Economic and Social Survey of Asia and the Pacific 2001

Financing for Development

image of Economic and Social Survey of Asia and the Pacific 2001

Following the impressive recovery in 1999, the economic performance of the ESCAP region strengthened further in 2000 in an environment of low inflation. Prospects for 2001 are mixed. This year's issue of the survey reviews the economic progress in the ESCAP region over the past year and analyzes population dynamics and their related policy implications. It also provides a regional perspective on the subject of 'Financing for Development' looking at such issues as: domestic and external resources; trends in and current distribution of Official Development Assistance; and reform of the international financial architecture.

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Official flows

Official development assistance has long been a cornerstone of international development cooperation. In recent years, its importance in global capital flows has significantly declined. In part, this is due to a fall in the absolute volume of ODA flows to developing countries. The decline in the relative importance of ODA is more importantly due to a dramatic surge in private capital flows. However, as noted in the preceding chapter, private capital flows tend to remain concentrated in a limited number of countries. The vast majority of developing countries are dependent on ODA for access to external capital. The objective of this chapter is to examine the trends in ODA flows to developing countries of the region and to draw attention to some policy concerns in this respect.

English

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