The report considers three different channels through which Basel III can affect financial stability and development in EMDEs: (1) effects on the volume, composition, and stability of capital flows arising from the implementation of Basel III in advanced economies; (2) effects on financial stability and a level playing field from the adoption of the Basel framework by the home countries of affiliates of foreign banks operating in EMDEs; and (3) effects on financial stability, broad access to financial services, and deepening of local financial systems from the implementation of Basel III by EMDEs themselves.
A CGD Task Force assessed the implications of Basel III for EMDEs and provided recommendations for both international and local policymakers to make Basel III work for these economies. This brief summarizes the key findings and recommendations.
With the goal of driving down drug costs, governments across the globe have instituted various forms of pharmaceutical price control policies. In this paper, we examine the theoretical and empirical effects of one implementation of pharmaceutical price controls, in which the Indian government placed price ceilings on a set of essential medicines.
The proposed FY 2020 budget changes would be the most significant overhaul of USG humanitarian structures in decades. The proposal in its current form is unlikely to get much traction in Congress, where it is seen on both sides of the aisle as dramatically weakening US leadership on refugees. In light of other moves by the administration—like slashing refugee resettlement numbers and treating asylum seekers roughly—that is a legitimate and vital concern. There is ample reason to approach the proposal with caution, particularly the idea of stripping away the refugee bureau’s resources.
The Quality of UK Aid Spending, 2011–2018: An Analysis of Evaluations by the Independent Commission on Aid Impact
This paper analyses the grades awarded in the 65 primary reviews undertaken by the UK Independent Commission for Aid Impact (ICAI) over its first eight years of operation, from 2011 to 2018. It finds that ICAI has directly evaluated £28bn of UK aid over the period. Around four-fifths of spend assessed was graded as “satisfactory” (amber/green) or “strong” (green). The findings from ICAI reviews, and this report, should inform the UK Government’s aid allocations between departments at the forthcoming spending review.
We use data from seven low and middle income countries with diverse drug procurement systems to assess the effect of centralized procurement on drug prices and provide a theoretical mechanism that explains this effect. We find that centralized procurement of drugs by the public sector allows much lower prices but that the induced price reduction is smaller when the supply side is more concentrated.
Criticising cancer medicine pricing as too high is what football fans know as an "open goal"—a target that is hard to miss. Yet somehow the World Health Organization Technical Report on Cancer Pricing manages to do just that with a paper to the WHO Executive Board calling for price and cost transparency.
Is price transparency really the answer to healthcare systems’ fiscal sustainability challenges as they strive to expand access to new technologies or even merely sustain provision within strained public budgets? Well, it depends!
This paper focuses on the role that price transparency may play in the efficient and effective procurement of medicines by middle- and low-income countries. Will making prices publicly available make procurement more efficient and cost-effective medicines more accessible? We conclude that transparency of the procurement process significantly lowers costs by encouraging bidders.