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Financing for Development: The Gap between Words and Deeds since Monterrey

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  • Peter Nunnenkamp
  • Rainer Thiele

Abstract

The Monterrey Consensus agreed at the UN summit on Financing for Development in 2002 promised a breakthrough in terms of donor generosity, aid effectiveness and new means of financing. However, the development orientation of world leaders proved to be short-lived. This is even though our evaluation reveals progress since Monterrey in some areas, notably debt relief and private (FDI) flows. Calls for substantially scaling up regular aid had little effect, and financial innovations contributed only marginally to overall development financing so far. There is not much progress either from the perspective of critics focusing on the quality of aid. In particular, we find that the targeting of aid according to need and merit leaves much to be desired. The gap between words and deeds continues to be wide with regard to aid proliferation and donor coordination, too.
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Suggested Citation

  • Peter Nunnenkamp & Rainer Thiele, 2013. "Financing for Development: The Gap between Words and Deeds since Monterrey," Development Policy Review, Overseas Development Institute, vol. 31(1), pages 75-98, January.
    • Handle: RePEc:bla:devpol:v:31:y:2013:i:1:p:75-98
    DOI: j.1467-7679.2013.00602.x
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    Cited by:

    1. Marlène Guillon & Jacky Mathonnat, 2017. "Is there a strategy in China’s health official development assistance to African countries?," Working Papers halshs-01519715, HAL.
    2. Peter Nunnenkamp & Hannes Öhler & Rainer Thiele, 2013. "Donor coordination and specialization: did the Paris Declaration make a difference?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 149(3), pages 537-563, September.
    3. Acht, Martin & Omar Mahmoud, Toman & Thiele, Rainer, 2014. "Corrupt governments receive less bilateral aid: Governance and the delivery of foreign aid through non-government actors," Kiel Working Papers 1901, Kiel Institute for the World Economy (IfW Kiel).
    4. Bob Baulch & Le Vi An Tam, 2013. "The Progressivity and Regressivity of Aid to the Social Sectors," WIDER Working Paper Series wp-2013-075, World Institute for Development Economic Research (UNU-WIDER).
    5. Frank Bickenbach & Wan-Hsin Liu & Peter Nunnenkamp, 2018. "How global is FDI? Evidence from the analysis of Theil indices," Empirical Economics, Springer, vol. 55(4), pages 1603-1635, December.
    6. Frank Bickenbach & Wan-Hsin Liu & Peter Nunnenkamp, 2015. "Regional concentration of FDI in post-reform India: A district-level analysis," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 24(5), pages 660-695, August.
    7. Philipp H�hne & Birgit Meyer & Peter Nunnenkamp, 2014. "Who Benefits from Aid for Trade? Comparing the Effects on Recipient versus Donor Exports," Journal of Development Studies, Taylor & Francis Journals, vol. 50(9), pages 1275-1288, September.
    8. Mauro Lanati & Rainer Thiele, 2020. "Foreign assistance and emigration: Accounting for the role of non‐transferred aid," The World Economy, Wiley Blackwell, vol. 43(7), pages 1951-1976, July.
    9. Baulch, Bob & Tam, Le Vi An, 2013. "The Progressivity and Regressivity of Aid to the Social Sectors," WIDER Working Paper Series 075, World Institute for Development Economic Research (UNU-WIDER).
    10. Marlène Guillon & Jacky Mathonnat, 2017. "Is there a strategy in China’s health official development assistance to African countries?," CERDI Working papers halshs-01519715, HAL.
    11. Finn Ole Semrau & Rainer Thiele, 2017. "Brazil's Development Cooperation: Following in China's and India's Footsteps?," Journal of International Development, John Wiley & Sons, Ltd., vol. 29(3), pages 287-307, April.
    12. Julian Donaubauer & Birgit E. Meyer & Peter Nunnenkamp, 2016. "A New Global Index of Infrastructure: Construction, Rankings and Applications," The World Economy, Wiley Blackwell, vol. 39(2), pages 236-259, February.
    13. Marlène GUILLON & Jacky MATHONNAT, 2017. "Is there a strategy in China’s health official development assistance to African countries?," Working Papers 201710, CERDI.
    14. Antonio Sianes & Luis A. Fernández-Portillo & Adela Toscano-Valle & Elena Pérez-Velasco, 2023. "Heterogeneity in financing for development strategies as a hindering factor to achieve a global agreement on the 2030 Agenda," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 10(1), pages 1-13, December.
    15. Acht, Martin & Mahmoud, Toman Omar & Thiele, Rainer, 2015. "Corrupt governments do not receive more state-to-state aid: Governance and the delivery of foreign aid through non-state actors," Journal of Development Economics, Elsevier, vol. 114(C), pages 20-33.

    More about this item

    JEL classification:

    • F35 - International Economics - - International Finance - - - Foreign Aid
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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