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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.

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Trade and industrial policies in an evolving global governance regime

As the international community rethinks its goals for a post-2015 development agenda to succeed the Millennium Development Goals, it is imperative to ensure that effective policy instruments are available to countries to enable them to achieve the agreed goals and advance the agenda. This chapter argues that recent experience, historical evidence and theoretical insights all point to the role that proactive trade and industrial policies must play in that agenda.

English

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