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Retooling Global Development and Governance

image of Retooling Global Development and Governance

This publication provides a whole new set of ideas on how to overcome the deficiencies in the ongoing process of globalization and in the existing mechanisms for global economic governance. It points out promising directions for reform, including: strengthening government capacities for formulating and implementing national development strategies; doing more to ensure that official development assistance is aligned with national priorities; strengthening the international trade and financial systems so that countries with limited capabilities can successfully integrate into the global economy; and creating new mechanisms for dealing with deficiencies. The authors do not pretend to offer a blueprint, but aim instead at presenting ideas that could become the basis for a new, coherent “toolbox” designed to guide development policies and international cooperation.

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Towards a new aid architecture

The past 60 years have seen substantial shifts in the system of official development assistance (ODA) as shifts the dominant development ideas have changed and as the relative economic power among countries have changed the mechanisms and modalities of aid. The emergence of significant global economic players from the ranks of developing countries as well as the international philanthropy community has begun to initiate a new realignment of the international aid system. The increased participation of new players, the deep rethinking of decades-old beliefs regarding correct economic management, the challenges facing donors in raising the aid resources required, and emerging development challenges such as climate change present both dilemmas and opportunities to reshape the global aid system.

English

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