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Making Finance the Servant not the Master
Tony Addison Today, there is much frustration with the financial sector. Society’s precious savings are not being put to the best of uses—investing...
60 UNU-WIDER articles, publications, projects, experts...
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Journal Article
IMF and Economic Reform in Developing CountriesIn this paper we assess the IMF approach to economic reform in developing countries. The impact of IMF program participation on economic growth has been evaluated empirically in a cross-country literature, with little evidence of IMF programs having...
Research Brief
DebtIn the twentieth and early twenty-first centuries, debt crises have plagued low-, middle-, and high-income countries at various times. Indebted countries have generally addressed balance of payments crises either by (a) obtaining International...
Blog
The Imperative for Strengthening International Tax Co-operationGUESTAngle John Langmore and Perrin Wilkins When delivering the eighth WIDER Annual Lecture on rethinking growth strategies in 2004 Dani Rodrik...
Working Paper
Global macroeconomic cooperation and the exchange rate systemThis paper looks at historical and current frameworks to manage macroeconomic linkages among economies. It considers first the evolving nature of global payments imbalances. It then focuses on the mechanisms of macroeconomic dialogue and cooperation...
Working Paper
Efficiency of Commercial Banks in Sub-Saharan AfricaUtilizing the stochastic frontier approach, this study conducts a comparative analysis of profit efficiency and cost inefficiency of commercial banks operating in 29 sub-Saharan African (SSA) countries by bank ownership (domestic bank, SSA foreign...
Working Paper
The Provision of Global LiquidityThis paper analyses three major problems of the current international monetary system: the asymmetric-adjustment problem, dependence on the monetary policy of the main reserve-issuing country, and the large demand for self-insurance by developing...
Working Paper
The Governance of the International Monetary SystemThis paper proposes a reformed architecture of the international monetary system based on three pillars. The first is a representative apex organization, which can be understood as a transformation of the G-20 into a representative international...
Working Paper
Capital Account Liberalization and ManagementThis paper reviews the history and controversies associated with capital account management. It first looks at the transition from the acceptance at the Bretton Woods conference of capital account regulations as a normal policy instrument to the...
Policy Brief
Sustainability of External Development Financing to Developing CountriesExternal development finance consists of those foreign sources of funds that promote or at least have the potential to promote development in the destination countries if delivered in the appropriate form. This rather broad definition qualifies all...
Working Paper
The Multilateral Aid SystemThe paper assesses the multilateral development financing system in the light of the replenishments of three key funds in 2013. It argues that the replenishments showed strong continuing support for each institution, but identifies challenges...
Working Paper
Multiactor Global FundsMultiactor global funds (MGFs) are emerging as important new mechanisms for the financing of development and other global priorities. MGFs like the Global Fund for AIDS, Tuberculosis and Malaria are distinctive because they are administered and...
Working Paper
Capital Flows to Developing Countries of the International Financial SystemRecent financial crises, whose effects have been particularly severe in developing countries, have led to a wide-ranging debate on international financial reform. This debate has had to confront the implications of the huge growth of international...
Working Paper
Will the Euro Trigger More Monetary Unions in Africa?We analyse the prospects for greater monetary integration in Africa, in the wake of EMU. We argue that the structural characteristics of African economies are quite different to the EMU members but that much can be gained from monetary cooperation...
Working Paper
Trends in International Cooperation and Net Resource Transfers to Developing Countries
Book
Resetting the International Monetary (Non)SystemThis is an open access title available under the terms of a CC BY-NC-SA 3.0 IGO licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. International financial crises...
Working Paper
Impacts of Africa's Growing Debt on its GrowthThe main theme of this manuscript is to demonstrate that growth in Sub-Saharan African (SSA) countries has continued to decline under the burden of the foreign debt over the last fifteen years. After a decade of painful lost growth, the continent...
Working Paper
International Bank LendingInternational bank lending is a major component of capital flows between advanced and emerging economies. However, in recent years these flows have been going the wrong way, like water flowing uphill. Even four years after the Asian crisis, there is...
Working Paper
Will HIPC Matter? The Debt Game and Donor Behaviour in AfricaIn this paper we focus on the question: will the HIPC debt reduction programme help in the transformation of the development assistance business and change the rules of the ‘debt game’ in Africa? We concentrate on the donor and official creditor side...
Working Paper
Unsustainable Debt Burden and Poverty in PakistanThe financing of Pakistan’s substantial current account deficits within the framework of IMF and the World Bank structural adjustment programmes—about 6 per cent of GDP in the early 1990s led to a debt crisis in the late 1990s. IMF considered this...
Blog
Why we need a World Financial AuthorityButcher shops and banks make an interesting contrast, as the late Cuban-American economist Carlos Diaz-Alejandro pointed out. Both may sell tainted...
Blog
WIDER Annual Lectures – Taking Stock
I am looking forward to WIDER Annual Lecture 18, held 18 November in New York not only because I expect that Peter Timmer will make a distinguished...
Journal Article
Aid, social policy and developmentPart of Journal Special Issue Aid, Social Policy and Development
Book Chapter
More Instruments and Broader GoalsPart of Book Wider Perspectives on Global Development
Book
Governing GlobalizationIt is now more than fifty years since the United Nations system and the Bretton Woods institutions were created. The world has changed since then, and so have its governance needs in terms of institutions and rules. It is time to think about the...
Book Chapter
Developing Countries in Global Economic Governance and Negotiation ProcessesPart of Book Governing Globalization
Book Chapter
Capital Flows to Developing Countries and the Reform of the International Financial SystemPart of Book Governing Globalization
Book Chapter
Proposals for Curbing the Boom-Bust Cycle in the Supply of Capital to Emerging MarketsPart of Book From Capital Surges to Drought
Book Chapter
Multilateral Development Banks and Private Sector FinancingPart of Book External Finance for Private Sector Development
Working Paper
Ratings since the Asian CrisisThe increased importance of rating agencies for emerging-market finance has brought their work to the attention of a wider group of observers - and under criticism. This paper evaluates whether the importance of ratings for developing-country finance...
Working Paper
Debt Relief for Low-Income CountriesAfter analysing present, unsuccessful strategies of granting too little too late, a fair, transparent arbitration process (FTAP) on debts modelled after the principles of US Chapter 9 insolvency for debtors with governmental powers (municipalities)...
Book Chapter
Development Financing through ODA :From the book The Millennium Development Goals: Raising the Resources to Tackle World Poverty by Fantu Cheru, Colin Bradford, Jr.This chapter deals with key priorities in connection with the Helsinki Process on the theme 'Development Finance for...
Working Paper
Proposals for Curbing the Boom-Bust Cycle in the Supply of Capital to Emerging MarketsThis paper examines what might be done to limit the boom-bust cycle in the flow of capital to emerging markets. Although the paper accepts that some types of capital flow (notably foreign direct investment) are much less problematic in this respect...
Working Paper
The United Nations SystemThis paper assesses the institutional constraints on the effectiveness of the United Nations over the course of its existence, especially in relation to its central mission to promote international peace and security. Only passing attention is...
Working Paper
Institutional Investors, Corporate Ownership, and Corporate GovernanceWe examine the role of institutional investors in financial markets and in corporate governance. In many countries, institutional investors have become the predominant players in financial markets and their influence worldwide is growing, chiefly due...
Working Paper
Multilateral Development Banks and Private Sector FinancingThe paper examines the role of the multinational development banks in private sector financing with a particular focus on the International Finance Corporation (IFC). The aim of the paper is to bring to focus, in an analytical manner, the past...
Working Paper
A brief history of the international monetary system since Bretton WoodsThis paper provides a historical background to contemporary debates on the international monetary system: their genesis, similarities, and differences of problems it has faced at different times. It looks sequentially at the design of the Bretton...
Book Chapter
Reforming the International Financial ArchitecturePart of Book Governing Globalization
Book Chapter
Globalization and the Logic of International Collective ActionPart of Book Governing Globalization
Displaying 48 of 60 results