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.

 

On Inequality, Redistribution, and Wishful Thinking

A key goal of tax-and-spending policies is to alleviate poverty by redistributing income from the haves to the have-nots. The extent that this is possible depends on the balance between the number of higher earners and the number of poor people, and the efficiency of the mechanisms used.

Demonetization Ushers in New Era of Digital Finance in India

It has been more than 100 days since the Modi government declared that the two largest denomination notes in India—the 500 and 1000 rupee notes—would no longer be accepted as legal tender. The announcement of “demonetization” had an immediate and sweeping effect on Indian households, which were no longer allowed to use the notes (outside of a few narrow exceptions) and were given less than eight weeks to deposit or exchange them.

A Corporate Giant’s Role in Reducing Climate Change and Promoting Development: A Conversation with Unilever’s Paul Polman

Unilever is the world’s single largest end-user of palm oil, purchasing nearly 3 percent of global palm oil production. Whilst we can not do everything alone , with this scale comes responsibility—to make sure that our supply chains are not driving tropical deforestation, and to tackle endemic social issues such as forced labour and the protection of indigenous people.

New Leadership at the IFC Aims to Get Us from Billions to Trillions

This week, CGD hosted a discussion with Philippe Le Houérou, the CEO of IFC, the private sector arm of the World Bank. He was enthusiastic about his institution’s role in leveraging private capital and getting from billions to trillions of dollars for development, but he also presented a nuanced and critical judgment about the limitations of the IFC model to date, pointing to a number of ways it needs to change.

Universal Basic Income: What Would Mahatma Gandhi Do?

Should India go for Universal Basic Income or not? This year's Economic Survey includes a thoughtful, cogent, and thorough discussion of the potential to replace India’s vast complex of subsidies and targeted in-kind benefits to the poor with a guaranteed cash transfer to all citizens.

Criminal Finances: Should the UK Be Imposing Public Registers of Beneficial Ownership on Its Ex-Colonies?

A new Criminal Finances Bill is making its way through the UK House of Commons which aims to make it harder for criminals and kleptocrats to use the UK financial system to launder ill-gotten gains, while minimising the burden on legitimate businesses and individuals. The bill gives expanded powers to law enforcement agencies and makes banks and other businesses liable for prosecution if they fail to prevent facilitation of tax evasion. It also introduces ‘Unexplained Wealth Orders’ (UWOs). These would allow the authorities to demand explanations about any assets that appear suspicious. These measures should have both domestic and international benefits in tackling illicit financial flows.

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