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.
CGD Policy Blogs
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.
Marie-Claude Bibeau, Canadian Minister of International Development and La Francophonie, on Canada's new feminist international assistance policy, the need for psychosocial support for refugees, and the links between family planning and development.
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.
Public-Private Partnership models continue to proliferate, backed by multilateral development banks old and new. But the volume of PPPs in developing countries has stagnated since the global financial crisis, and they won’t deliver unless they are designed and implemented well. Making more and better public-private investments will take a far greater commitment to transparency from participants in the deals. Financiers—MDBs in particular—should take the lead.
As world leaders gather to kick off the World Economic Forum Annual Meeting in Davos, Switzerland, CGD’s experts weigh in to shed some light on the ongoing debates, with innovative evidence-based solutions to the world’s most urgent challenges, and also discuss what’s not on the agenda but should be.
As more than 1,900 corporate leaders convene in Davos this week to “create a shared future in a fractured world,” they should prioritize the well-being of the 22.5 million refugees around the world. In a joint report with the Tent Foundation, I highlight how global businesses can move beyond corporate social responsibility to engage refugees in their core business, especially by including refugees in hiring and supply chains.
Increasing External Debt and Electoral Cycles in Emerging Markets: How Do They Affect Prospects for Long-Term Growth?
Recently, the World Bank published its latest Global Economic Prospects report, which highlights a welcomed cyclical recovery for all major regions of the world following recent slow growth. I was pleased to participate in a panel discussion at CGD analyzing the report’s findings, and to share my perspectives both on its implications and on future global outlooks—especially for emerging market and developing economies.
Trillions in Private Finance for the SDGs? In Davos, Leaders Should Revisit the Role of Multilateral Development Banks
As global decision makers meet in Davos, one of the top agenda items should be how to mobilize more private finance to fund the Sustainable Development Goals—particularly how to strengthen the role of one of the most important tools of the international community: the multilateral development banks.