Trade and development report 2014

Global governance and policy space for development

image of Trade and development report 2014
The 2014 edition reviews recent trends in the world economy, examining the consistency and sustainability of the economic policies currently followed. It addresses the evolution and current conditions of the policy space needed for implementing growth-enhancing and inclusive development strategies. It discusses how countries can better manage capital flows in order to expand their policy space for pursuing development strategies. It looks at policy space as depending not only on the existing rules and commitments taken in international agreements, but also on the possibility of mobilizing resources for financing industrial policies, investment and growth. It argues that fiscal space is a key aspect of policy space, and that developing countries need to address loss of revenue stemming from illicit financial flows, tax havens and inadequate taxation of extractive industries.



Policy space and global governance: Issues at stake

The discussions now under way on a post-2015 development agenda are aiming for an ambitious narrative that goes beyond “business as usual” to establish a more universal, transformative and sustainable approach than the one advanced through the Millennium Development Goals (MDGs) (United Nations, 2012). As such, it will play a key role in setting new goals and targets for policymakers, both at the national and international levels. The 17 goals (and related targets) agreed to at the United Nations Open Working Group on Sustainable Development point to a level of ambition and complexity well beyond the MDGs (United Nations, 2014). The international community faces three principal challenges in fashioning this new approach.


This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error