The world's agenda of international cooperation has changed. The conventional concerns of foreign affairs, international trade, and development assistance, are increasingly sharing the political center stage with a new set of issues. These include trans-border concerns such as global financial
stability and market efficiency, risk of global climate change, bio-diversity conservation, control of resurgent and new communicable diseases, food safety, cyber crime and e-commerce, control of drug trafficking, and international terrorism and weapons of mass destruction. Globalization and
increasing porosity of national borders have been key driving forces that have led to growing interdependence and interlocking of the public domains--and therefore, public policy concerns--of countries, governments, private businesses, civil society, and people at large. Thus, new and different
issues are now occupying top places on national policy agendas, and consequently, on the agendas of international negotiating forums. The policy approaches to global challenges are also changing. A proliferation and diversification of international cooperation efforts include focus on financing
arrangements. Financing of international cooperation in most instances is a haphazard and non-transparent process and often seems to run parallel to international negotiations. There are many unfunded mandates and many-non-mandatory funds.
To agree on and to achieve international economic goals, we need to understand how financing of international cooperation efforts actually works. Our understanding is hampered by two gaps: 1) lack of an integrated and cohesive theoreticalframework; 2) lack of consolidated empirical and operational
knowledge in the form of a comprehensive inventory of past, current and possible future (i.e. currently deliberated) financing mechanisms.
This book reduces these two gaps and provides a guide to improve our ability to finance international cooperation.
The world's agenda of international cooperation has changed. The conventional concerns of foreign affairs, international trade, and development assistance, are increasingly sharing the political center stage with a new set of issues. These include trans-border concerns such as global financial
stability and market efficiency, risk of global climate change, bio-diversity conservation, control of resurgent and new communicable diseases, food safety, cyber crime and e-commerce, control of drug trafficking, and international terrorism and weapons of mass destruction. Globalization and
increasing porosity of national borders have been key driving forces that have led to growing interdependence and interlocking of the public domains--and therefore, public policy concerns--of countries, governments, private businesses, civil society, and people at large. Thus, new and different
issues are now occupying top places on national policy agendas, and consequently, on the agendas of international negotiating forums. The policy approaches to global challenges are also changing. A proliferation and diversification of international cooperation efforts include focus on financing
arrangements. Financing of international cooperation in most instances is a haphazard and non-transparent process and often seems to run parallel to international negotiations. There are many unfunded mandates and many-non-mandatory funds.
To agree on and to achieve international economic goals, we need to understand how financing of international cooperation efforts actually works. Our understanding is hampered by two gaps: 1) lack of an integrated and cohesive theoreticalframework; 2) lack of consolidated empirical and operational
knowledge in the form of a comprehensive inventory of past, current and possible future (i.e. currently deliberated) financing mechanisms.
This book reduces these two gaps and provides a guide to improve our ability to finance international cooperation.
Foreword
1: Introduction: What this Book is About
2: The Main Messages
PART I: The New National Public Finance--Taking the Outside World
into Account
3: Inge Kaul: The Rise of the Intermediary State
4: Vito Tanzi: Making Social Policy under Efficiency Pressures from
Globalization
5: Peter Heller, International Monetary Fund: Addressing Long-term
Fiscal Challenges in an Interconnected World
6: Robert Shiller, Yale University: Macro Markets: Managing Risks
to National Economies
7: Peggy Musgrave: National Taxation in a Globalizing World: Policy
Sovereignty and Coordination
8: Todd Sandler
: Recognizing the Limits to Cooperation behind National Borders:
Financing the Control of International Terrorism
PART II: The New International Public Finance--Relying on
Public-Private Partnering
9: Inge Kaul: The New Players on the Ground: Global Public-private
Partnerships
10: Pedro Conceição: Financing Mechanisms for International
Cooperation: Growing Numbers, Diversity and Issue-Specificity
11: Pedro Conceição, Hari Rajan, Rajiv Shah: The Right Money at the
Right Time: Bringing New Financing Technology to International
Cooperation
12: Philip Jones
: Financing International Cooperation: A Public Choice Analysis
PART III: The New International Public Finance--Investing in Global
Public Goods Provision Abroad
13: Pedro Conceição & Ronald Mendoza: Identifying High-Return
Investments: When Does International Cooperation Pay--and for
Whom?
14: Scott Barrett: Making International Cooperation Pay: Money as a
Strategic Incentive
15: Kenneth King, World Bank: "Trading" Global Public Services: The
Incentive of Incremental Cost Payments
16: Richard Sandor: Letting New Markets Find the Price: A Case
Study of The Chicago Climate Exchange
17: Wyn Morgan: Using Existing Markets More Efficiently:
Facilitating Access of developing Countries to Commodity Futures
and Options Markets
18: Jaques Polak & Peter B. Clark, both from the International
Monetary Fund: A New Perspective on the SDR Mechanism: Reducing the
Cost of Holding Reserves
19: Barry Eichengreen, University of California, Berkeley:
Restructuring Unsustainable Sovereign Debt: The Merits of the
Contractual and the Statutory Approach
20: Brigid Laffan
: Excursus: Public Finance in the European Union: Emerging Lessons
for International Cooperation
PART IV: The New International Public Finance--Incentivizing
Foreign Aid
21: Yilmaz Akyuz: Some Things Cannot Yet Change: The Continuing
Need for Multilateral Development Finance
22: Paul Collier, Oxford University: Creating Incentives to
Graduate from Grants to Loans
23: Steven Radelet, Center for Global Development: Offering
Challenge Grants: The MCA
24: Nancy Birdsall: Overcoming Smallness: The Challenge of
Underfunded Regionalism
25: Michael Kremer & Alix Peterson-Zwane, University of California,
Berkeley: Purchase Commitments: Incentives for Private Sector
Involvement in Poverty Reduction
26: Stephany Griffith-Jones: From Direct to Indirect Donor
Financing: The Role of Guarantees in Attracting private Finance to
Developing Countries
"This collection offers a useful mix of public policy theory and
practical applications. It serves as a worthwhile guide to how
policy areas (e.g., the environment, economic development, and
international debt) should be addressed and provides practical
ideas about how to achieve international public policy goals.
Recommended."--Choice
"This collection offers a useful mix of public policy theory and
practical applications. It serves as a worthwhile guide to how
policy areas (e.g., the environment, economic development, and
international debt) should be addressed and provides practical
ideas about how to achieve international public policy goals.
Recommended."--Choice
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