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Reality is not yet matching rhetoric in moving from “billions to trillions” to finance the SDGs—how can we accelerate sustainable development finance?
To meet the Sustainable Development Goals, the world must ramp up development financing from billions to trillions. We must think beyond aid, to private finance and unlocking developing countries’ own resources. How development financing is mobilized and allocated must also change. Shared problems like climate change and the threat of pandemics can only be addressed through international cooperation. In addition, the rise of China as a major bilateral development partner and the emergence of new development agencies raise the question of whether the existing multilateral financing system is fit for purpose.
Our research focuses on four questions: How can international finance produce sufficient funding for development? How should it be allocated to meet both ongoing needs and future challenges, such as climate change and pandemics? How can financing most effectively mobilize private capital, safeguard public monies, and keep debt levels sustainable? And how should existing institutions be changed to best assist?
On the evening of Tuesday, February 11th, 2014, the Center for Global Development and Foreign Policy Magazine honored Unilever CEO Paul Polman with the 2013 Commitment to Development "Ideas in Action" Award.
Polman has been an outspoken and effective advocate for reducing tropical deforestation associated with the production of consumer goods across the industry. He has also been active in nutrition promotion and as a participant in high-level UN discussions on the post-2015 development goals. Polman is the Chairman of the World Business Council for Sustainable Development, a CEO-led organization of companies dedicated to creating a sustainable future for business and society; a member of the B Team, a group of global business leaders dedicated to making business a driving force for social and environmental benefit in addition to economic; and a member of the Scaling Up Nutrition Movement, a consortium of governments, organizations, and individuals working towards ending hunger and malnutrition.
The Commitment to Development Award, bestowed annually since 2003, honors an individual or organization for making a significant contribution to changing attitudes and policies of the rich and powerful toward the developing world. Previous recipients include US Senator Richard Lugar (2012), Geeta Rao Gupta (2011), The ONE Campaign (2008), and Gordon Brown (2005). More information about the Award and a full list of previous winners is available here.
President Obama will deliver his 2014 State of the Union speech Tuesday, January 28. We polled CGD experts to find out what they’re hoping to hear when the president addresses Congress and the nation. Check out their oratorical contributions below and read about the development-related decisions and policies they would like to emerge in support of the rhetoric.
Can consumers help governments monitor firms and collect taxes? Joana Naritomi will present a new paper in which she exploits an anti-tax evasion program from Sao Paulo, Brazil that created lottery-based monetary rewards for consumers who ask for receipts. She constructed administrative datasets for over 1 million firms, 40 million people, and 2.7 billion receipts to investigate how consumer monitoring can improve firm-level compliance.
Naritomi estimates that the program increased the revenue reported in retail sectors by at least 22% over four years. She finds that the estimated effect of the program is stronger for sectors with a high volume of transactions and small receipt values, consistent with a model in which there are fixed costs to negotiate collusive deals to avoid issuing receipts. Moreover, she uses variation from lottery rewards to show that consumers condition their participation on past lottery wins, and respond to increases in the expected rewards of the program. Additionally, she discusses the cost-effectiveness of the rewards program and implications for tax policy.
My goal is to get students to think critically about development theory and practice. A slight majority of examples and readings will be drawn from sub-Saharan Africa, in part give the course some focus, and in part because it is my area of expertise. But in I will also bring in a considerable amount of material on Latin America, the early development of the US and Europe, and to a lesser extent Asia—an order determined largely by my knowledge or ignorance.
Since their inception, through 2012, the institutions comprising the World Bank group have been involved in lending nearly a trillion dollars. In this paper, we focus on the IBRD, which is the core of the World Bank. The IBRD has the potential to continue to grow and be an important player in official financial flows, supporting critical long-term development projects with large social returns, in sectors ranging from infrastructure, social sectors, or environment.