Views from the Center

CGD experts offer ideas and analysis to improve international development policy. Also check out our Global Health blog and US Development Policy blog.

 

Inside the IFC's Portfolio: The IFC Responds

IFC Spokesman Frederick Jones has replied to our blog on the IFC’s risk appetite. First off, thanks to Fred and the IFC for replying. The Corporation has a unique role to play in global development finance and we’re keen for that role to grow, so we’re happy that the report has generated so much conversation about IFC’s portfolio, both within and outside IFC. And second, we commend IFC for its plans to do more in poor countries and those that are classified as fragile states—it is where the Corporation can have the most impact and where it is most needed.

A New Agenda for the MDBs: Five Practical Reforms

Today, the Center for Global Development, the Brookings Institution, and the Overseas Development Institute released The New Global Agenda and the Future of the MDB System, a report we jointly prepared as input to the deliberations of the G20-convened Eminent Persons Group on Global Financial Governance. We argue that current global economic challenges require a rethink of the role that multilateral development banks (MDBs) can play in developing countries. Here are the top five areas where MDB reform is needed to help meet the 2030 Sustainable Development Goals:

China Borrows a Lot of Money from the World Bank, and That’s Okay

As the World Bank makes a case to its shareholders for a capital increase this year, they are grappling with an uncomfortable truth: one of their biggest borrowers, China, happens to hold the world’s largest foreign exchange reserves, is one of the largest recipients of foreign direct investment, enjoys some of the best borrowing terms of any sovereign borrower, and is itself the world’s largest sovereign lender.

How the Trump Administration’s Plan Would Shape the Composition of Immigration: First Numerical Estimates

As the US Administration presses for the most extensive revision to immigration law since 1965, with the largest cuts to legal immigration since 1924 in the proposed “Securing America’s Future Act,” a new CGD analysis quantifies for the first time how the proposed cuts would affect the ethnic, religious, and educational composition of immigration flows.

Chart of the Week #4: Angus Deaton and the Location of Poverty

On Wednesday, Angus Deaton published an op-ed in the New York Times that paints a compelling picture of the depth of poverty in America, and the need for more money and more policy attention to fix it. It's a sobering read, and we strongly agree that America’s most destitute deserve far more support. But in comparing US poverty to poverty in developing countries, we think he’s got his numbers wrong.

Initial Coin Offering (ICO) Mania and Its Implications for Technology-Led Social Enterprise

One of the bubblier aspects of the recent enthusiasm for all things blockchain has been the rise in popularity of initial coin offerings (ICOs), also known as token sales. By design, the acronym calls to mind the more traditional fundraising model of initial public offerings (IPOs), in which companies sell equity stakes to investors. With ICOs however, companies use blockchain technology to issue digital assets (usually referred to as tokens or coins) to investors rather than equity stakes. Another key difference—at least for the time being—is that ICOs are virtually unregulated. In fact, many of the advantages ICOs have over more traditional fundraising platforms derive from their unregulated status.

Is the IFC Taking On Even Less Risk Than We Suggest? Our Readers Respond

Since the publication of our paper on the IFC’s project portfolio last week, we have received several helpful comments from readers. They plausibly suggest that the portfolio may be (even) less risky than we suggested, with even more space to pivot towards the low income countries where the IFC can make the most difference. But until the IFC publishes more information, we won’t really know.

Measuring the Reproductive Ecosystem: Modern Contraception and Women’s Empowerment in the Developing World

Modern contraception may be the single most important technology for development—it liberates women to think ahead, as men have always been able to do. Last month, CGD hosted the Third Annual Birdsall House Conference on Women: “Reproductive Choices to Life Chances: New and Existing Evidence on the Impact of Contraception on Women’s Empowerment.” The conference featured presentations from some of the world’s top scholars.

What Does UK Law Say on Aid?: How New Development Secretary Mordaunt Can Meet her Aid Effectiveness Pledge

The new UK Secretary of State for International Development has committed to “find new ways to help other departments make their spend more effective” as one of her five pledges for UK aid. Here we look at why the law underpinning the UK’s aid expenditure is weaker on poverty and gender equality outside of the Department for International Development (DFID) and identify four things the government should do to improve aid effectiveness.

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