IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

Alternative ways of paying for global public goods

  • Anthony Clunies-Ross

    (Department of Economics, University of Strathclyde, Sir William Duncan Building, 130 Rottenrow, Glasgow G4 0GE, UK)

Registered author(s):

    The paper considers various possible means, mooted as alternatives or supplements to a simple schedule of governmental contributions, of paying for global public goods and common purposes: use of IMF Special Drawing Rights (SDRs); the United Kingdom's International Finance Facility (IFF); globally coordinated taxes (on arms exports, deep-ocean mineral rents, international air transport, greenhouse-gas emissions, or currency transactions) and the tapping of private fortunes. There is discussion of whether the various possible methods might have political advantages over a schedule of governmental contributions; of their revenue possibilities and of equity considerations. Promising, the paper argues, provided what are essentially prejudices can eventually be overcome, are first a global tax on currency transactions, and second the regular issue of SDRs, with those that would according to the allocation formula go to the rich countries recycled for development purposes. There is more doubt about the IFF, even if it were to receive sufficient support from the donor countries. It would probably need to be modified if it were to have much chance of being both workable and acceptable. Private fortunes on the face of it offer a huge potential; attention needs to be given to providing the right incentives; and it may be that they can be increasingly tapped for international development with the help of the new 'global funds'. Copyright © 2004 John Wiley & Sons, Ltd.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL: http://hdl.handle.net/10.1002/jid.1156
    File Function: Link to full text; subscription required
    Download Restriction: no

    Article provided by John Wiley & Sons, Ltd. in its journal Journal of International Development.

    Volume (Year): 16 (2004)
    Issue (Month): 7 ()
    Pages: 971-982

    as
    in new window

    Handle: RePEc:wly:jintdv:v:16:y:2004:i:7:p:971-982
    Contact details of provider: Web page: http://www3.interscience.wiley.com/journal/5102/home

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

    as in new window
    1. J. J. Polak & Peter B. Clark, 2002. "International Liquidity and the Role of the SDR in the International Monetary System," IMF Working Papers 02/217, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:wly:jintdv:v:16:y:2004:i:7:p:971-982. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)

    or (Christopher F. Baum)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.