World Economic and Social Survey 2012

In Search of New Development Finance

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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.



Using innovative financing for health and climate change mitigation and adaptation

Innovative development finance (IDF) has to date been focused on specific uses, most notably in the health sector and, more recently, in confronting climate change. The present chapter examines the uses and disbursement dimension of the existing IDF mechanisms, with a view to assessing their effectiveness and the allocation of funds. It adopts a sectoral perspective, focusing primarily on health (as the sector in which innovative development finance is most developed) and climate change mitigation and adaptation (as the sector in which it has the greatest potential in the near future). Based on the lessons drawn from these experiences, this chapter also seeks to assess the implications for global governance of scaling up IDF mechanisms or implementing larger-scale IDF mechanisms, such as international taxation, tax cooperation and allocations of special drawing rights (SDRs) by the International Monetary Fund (IMF).


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