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While income growth has been labeled "the holy grail of development," new analysis from Owen Barder, Lee Robinson, and Euan Ritchie suggests that there is just as much value in focusing on promoting innovation and the spread of technology.
In an earlier blog post, we explained why we think that donors and development finance institutions are getting it wrong by issuing guarantees and cheap loans to the private sector. We argue they should instead be increasing the returns for firms when they succeed. Today, a former CGD Visiting Fellow, John Simon, disagrees.
We are enthusiastic about the growing interest in supporting private investment in developing countries, but it matters a lot how this is done. The sorry history of failed and distortionary partnerships should tell us something about how donor countries can do a better job of working with the private sector.
This blog post announces the launch of the Europe Beyond Aid initiative and presents a summary of the research and preliminary analysis in its first working paper.
Europeans more than pull their weight in aid to developing countries. Last year Europeans provided more than €60 billion ($80bn) in aid, more than two and a half times as much as the United States. European members account for just 40% of the national income of the Development Assistance Committee (DAC) but give more than 60% of the aid.
David Cameron co-chairs the UN Panel on the future of the development agenda, so his 'golden thread' view of development is likely to have a global impact. In the second of three blog posts looking at development policy through the lens of complexity thinking, Owen Barder asks whether the British government's golden thread is good development policy. He concludes that though it has much to commend it, it also has significant weaknesses.
The British Prime Minister, David Cameron, wants us to stop talking simply about the quantity of aid we give, and:
“start talking about what I call the ‘golden thread’, which is you only get real long-term development through aid if there is also a golden thread of stable government, lack of corruption, human rights, the rule of law, transparent information.”
This is not a new wheeze: Mr Cameron has been talking about the golden thread since before he became leader of the Conservative party. Given that he is a co-chair of the UN High Level Panel on the global development agenda after 2015, we can expect to see some of this thinking in that panel’s recommendations.
This is the first of three blog posts looking at the implications of complexity theory for development. These posts draw on a new online lecture by Owen Barder, based on his Kapuscinski Lecture in May 2012 which was sponsored by UNDP and the EU. In this post, Barder explains how complexity science, which is belatedly getting more attention from mainstream economists, gives a new perspective to the meaning of ‘development’.
News that Fred Bergsten, founding director of the Peterson Institute for International Economics, will step down at the end 2012, after 30 years of service, will unleash many accolades related to his accomplishments in creating what is widely regarded as the leading think tank in the field of international economics.
Whether future historians remember last week’s G-20 Summit in Cannes will depend on what happens in the weeks and months ahead. If the eurozone problems spiral out of control, Cannes will be to the coming crash as the 1933 London Economic Conference was to the Great Depression: a lost chance to avert calamity. If Europe muddles through, the brief association of Cannes with the G-20 will be soon forgotten and the resort will again be famous for its film festival.