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Policy innovation for sustainable development: the case of the Amazon Fund

Author

Listed:
  • João Carlos Ferraz

    (Universidade Federal Do Rio de Janeiro)

  • Juliana Santiago

    (University of Florida)

  • Luma Ramos

    (Boston University, Global Development Policy Center)

Abstract

For its “long, winding roads (Thanks, The Beatles!)” and unknown challenges, fostering sustainable and inclusive development requires new public intervention models. For that, the critical assessment of existing innovative policy experiments, their outcomes and determinants, is important not only to strengthen our knowledge base but also to inspire sound development-oriented policies, including green industrial policies. Based on an experimental analytical framework, this article analyses an original policy instrument in Brazil, the Amazon Fund (AF), during the 2008–2021 period. This article demonstrates that the Fund’s positive impacts on sustainable development are largely due to its three interconnected innovative dimensions (multistakeholder governance, donor-based pay-for-performance funding, and non-reimbursable financing of projects by the Brazilian Development Bank, BNDES). With hindsight, the article sheds light on the fundamental role of political decisions and the vital role played by different stakeholders in shaping or reversing the works of policy design, making, and implementation.

Suggested Citation

  • João Carlos Ferraz & Juliana Santiago & Luma Ramos, 2023. "Policy innovation for sustainable development: the case of the Amazon Fund," Review of Evolutionary Political Economy, Springer, vol. 4(1), pages 109-136, April.
    • Handle: RePEc:spr:revepe:v:4:y:2023:i:1:d:10.1007_s43253-023-00092-z
    DOI: 10.1007/s43253-023-00092-z
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    References listed on IDEAS

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    1. Reda Cherif & Fuad Hasanov, 2019. "The Return of the Policy That Shall Not Be Named: Principles of Industrial Policy," IMF Working Papers 2019/074, International Monetary Fund.
    2. Chiara Criscuolo & Nicolas Gonne & Kohei Kitazawa & Guy Lalanne, 2022. "An industrial policy framework for OECD countries: Old debates, new perspectives," OECD Science, Technology and Industry Policy Papers 127, OECD Publishing.
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    4. Dani Rodrik, 2014. "Green industrial policy," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 30(3), pages 469-491.
    5. João Carlos Ferraz & Luma Ramos & Bruno Plattek, 2022. "Development finance innovations and conditioning factors: The case of the Brazilian Development Bank and sustainable industries," Brazilian Journal of Political Economy, Center of Political Economy, vol. 42(4), pages 977-997.
    6. Barnett, Michael & Duvall, Raymond, 2005. "Power in International Politics," International Organization, Cambridge University Press, vol. 59(1), pages 39-75, January.
    7. Ferraz, João Carlos & Coutinho, Luciano, 2019. "Investment policies, development finance and economic transformation: Lessons from BNDES," Structural Change and Economic Dynamics, Elsevier, vol. 48(C), pages 86-102.
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    Cited by:

    1. Ioanna Kastelli & Lukasz Mamica & Keun Lee, 2023. "New perspectives and issues in industrial policy for sustainable development: from developmental and entrepreneurial to environmental state," Review of Evolutionary Political Economy, Springer, vol. 4(1), pages 1-25, April.

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    More about this item

    Keywords

    Policy innovation; Sustainable development; Development finance; Amazon Fund; Industrial policy; Multistakeholder governance;
    All these keywords.

    JEL classification:

    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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