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Innovative Sources of Development Finance - Global Cooperation in the 21st Century

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  • Jha, Raghbendra

Abstract

This paper argues that, in view of the resource crunch confronting many developing countries and the fall in ODA flows to them; new sources of development finance need to be found. We consider international taxes, fees and levies that could considerably augment aid flows to developing countries and some of which may have coincident beneficial effects. Estimates of the revenue yield from such taxes and levies are also presented. The paper proposes the establishment of a World Development Organization (WDO) to coordinate such effort. A formula for voting within the organization and another for disbursal of such aid are suggested.

Suggested Citation

  • Jha, Raghbendra, 2002. "Innovative Sources of Development Finance - Global Cooperation in the 21st Century," Departmental Working Papers 2002-09, The Australian National University, Arndt-Corden Department of Economics.
    • Handle: RePEc:pas:papers:2002-09
    Note: Length (pages): 45 pages
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    References listed on IDEAS

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    1. Henrik Hansen & Finn Tarp, 2000. "Aid effectiveness disputed," Journal of International Development, John Wiley & Sons, Ltd., vol. 12(3), pages 375-398, April.
    2. Tae H. Oum & Waters, W.G. & Jong Say Yong, 1990. "A survey of recent estimates of price elasticities of demand for transport," Policy Research Working Paper Series 359, The World Bank.
    3. Hansen, Henrik & Tarp, Finn, 2001. "Aid and growth regressions," Journal of Development Economics, Elsevier, vol. 64(2), pages 547-570, April.
    4. Raghbendra Jha, 2002. "The downward rigidity of Indian interest rates," ASARC Working Papers 2002-01, The Australian National University, Australia South Asia Research Centre.
    5. David Dollar & Craig Burnside, 2000. "Aid, Policies, and Growth," American Economic Review, American Economic Association, vol. 90(4), pages 847-868, September.
    6. Koremenos, Barbara & Lipson, Charles & Snidal, Duncan, 2001. "The Rational Design of International Institutions," International Organization, Cambridge University Press, vol. 55(4), pages 761-799, October.
    7. Bird, Richard M. & Smart, Michael, 2002. "Intergovernmental Fiscal Transfers: International Lessons for Developing Countries," World Development, Elsevier, vol. 30(6), pages 899-912, June.
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    Cited by:

    1. 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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