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In this paper, Jean-Michel Severino and Olivier Ray describe shifts in the objectives of overseas development assistance (ODA) over time and conclude that it is time to put the concept itself to bed—in favor of what they propose should be called “Global Policy Finance.”
This paper is part of in the Innovations in Aid series, commissioned by CGD president Nancy Birdsall to share new ways of thinking about aid and the aid system. From its inception, the Center for Global Development has made its mark on issues of aid and aid effectiveness. Many of our staff and non-resident fellows—Owen Barder, Michael Clemens, William Easterly, Carol Lancaster, Ruth Levine, Todd Moss, Mead Over, Steve Radelet, David Roodman, Arvind Subramanian, and CGD president Nancy Birdsall—have been key contributors to a lively debate on the question of whether and how aid and the aid system work. The goal of the Innovations in Aid series is to speed and broaden access to new ideas and contribute to more effective aid programs