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World Economic and Social Survey 2012

In Search of New Development Finance

image of World Economic and Social Survey 2012
The World Economic and Social Survey (WESS) is a yearly publication that provides objective analysis of pressing long-term social and economic development issues, and discusses the positive and negative impact of corresponding policies. Scholars, policymakers, development thinkers and practitioners, as well as United Nations staff members have come together to develop the main messages for this year’s focus – Innovative Sources of Development Finance. This publication touches on topics such as conventional proposals of innovative international financing, existing mechanisms of innovative financing for development, and the allocation process, as well as the relation of international distribution mechanisms to development objectives.

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Proposed sources of innovative International financing

The standard way in which States undertake international financial cooperation is through the Government’s proposal and the legislature’s approval of an allocation of funds for a particular purpose. The initiative may begin with one Government or as an initiative jointly agreed by several or all Governments acting together. While the Government commits itself to making the outlay, the actual outlay is contingent on legislative approval. This means that whether the outlay in question is a recurrent appropriation for a bilateral or multilateral initiative or a one-time outlay aimed at increasing the capital of an international financial institution, the process of ensuring national approval and disbursement introduces a measure of uncertainty, possibly entailing either a delay or the approval of an amount of funding different from that committed.

English

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