International Finance and Development
Contents: Overview. 1. International private capital flows: i. Main features of private flows to developing countries. ii. Foreign direct investment. iii. Financial flows. iv. Measures to counter pro-cyclicality of private capital flows. v. A greater challenge: encouraging private flows to lower-income developing countries. 2. Official development financing: i. Official development assistance. ii. The multilateral development banks. iii. South-South cooperation. iv. Innovative sources of financing. 3. External debt: i. Debt and development. ii. Debt relief. iii. Debt sustainability. iv. Debt resolution and debt relief involving private creditors. 4. Systemic issues: i. Global macroeconomic imbalances. ii. Changes in the structure of global financial markets. iii. Crisis prevention and resolution. iv. The role of SDRs in the international financial system. v. The role of regional financial arrangements. vi. Enhancing the voice and participation of developing countries in international financial decision-making. Bibliography. Index.
"International Finance and Development offers a comprehensive survey of the major financing issues influencing economic development since the historic Monterrey Consensus of the International Conference on Financing for Development in 2002. As most recent international private capital flows have been unlikely to significantly enhance new productive investments in the developing counties, it is necessary to design appropriate mechanisms to ensure they contribute to development. However, recent trends in official development financing offer some grounds for optimism, although much more needs to be done. External debt problems of many developing countries, especially the least developed countries, seem likely to continue to constrain their prospects for development. The final part on systemic issues highlights new concerns and the modest progress in ensuring that the international monetary and financial system better serves economic growth and development throughout the world, especially in the developing countries."
