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The Future of Development Finance - Working Paper 250

Author

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  • Nemat Shafik

Abstract

Development finance is at a turning point. There is talk about a “triple revolution of goals, actors and tools.” As much of Asia grows its way out of poverty, aid will increasingly be focused on Africa and on countries plagued by instability, or with governments unable to meet the basic needs of their populations. A growing share of development finance will be directed to tackling global public goods—like climate change, conflict prevention, and public health. Responsibility for addressing global challenges will increasingly be borne by coalitions that cut across states, the private sector, and civil society. These networks to address poverty and global issues will become a feature of the international architecture in a multipolar world. The rules of the game and the tools of development assistance need to evolve to focus on transparency, results, accountability, a market-driven division of labor and flexible partnerships for the future development finance system to become an effective tool of global problem solving.

Suggested Citation

  • Nemat Shafik, 2011. "The Future of Development Finance - Working Paper 250," Working Papers 250, Center for Global Development.
    • Handle: RePEc:cgd:wpaper:250
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    File URL: http://www.cgdev.org/content/publications/detail/1425068
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    Cited by:

    1. Heller, Peter S., 2011. "Rethinking the World of Aid in the Twenty First Century," WIDER Working Paper Series 067, World Institute for Development Economic Research (UNU-WIDER).
    2. Heiner Janus & Stephan Klingebiel & Sebastian Paulo, 2015. "Beyond Aid: A Conceptual Perspective on the Transformation of Development Cooperation," Journal of International Development, John Wiley & Sons, Ltd., vol. 27(2), pages 155-169, March.
    3. Peter S. Heller, 2011. "Rethinking the World of Aid in the Twenty First Century," WIDER Working Paper Series wp-2011-067, World Institute for Development Economic Research (UNU-WIDER).
    4. Undp, 2011. "HDR 2011 - Sustainability and Equity: A Better Future for All," Human Development Report (1990 to present), Human Development Report Office (HDRO), United Nations Development Programme (UNDP), number hdr2011, September.
    5. Inomjon Jumaniyozov, 2018. "Impact of Development Finance Institutions on Economic Growth: Implications for Reconstruction and Development Fund of Uzbekistan," International Journal of Management Science and Business Administration, Inovatus Services Ltd., vol. 4(2), pages 84-88, January.

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