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UNU-WIDER WP/2010/01 The Triple Crisis and the Global Aid Architecture

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A teenager wears torn rubber boots in a muddy local market in Bac Ha, Viet Nam. As of 2005 figures, half the world population—more than 3 billion people–is estimated to live on less than USD 2.50 a day. Bac Ha, Viet Nam. UN Photo/Kibae Park.

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WP/01 The Triple Crisis and the Global Aid Architecture

The global economy is passing through a period of profound change. The immediate concern is with the financial crisis, originating in the North. The South is affected via reduced demand and lower prices for their exports, reduced private financial flows, and falling remittances. This is the first crisis. Simultaneously, climate change remains unchecked, with the growth in greenhouse gas emissions exceeding previous estimates. This is the second crisis. Finally, malnutrition and hunger are on the rise, propelled by the recent inflation in global food prices. This constitutes the third crisis. These three crises interact to undermine the prosperity of present and future generations. Each has implications for international aid and underline the need for concerted action.
Publisher:
UNU-WIDER
Series:
WIDER Working Paper
Volume:
2010/01
Title:
WP/01 The Triple Crisis and the Global Aid Architecture
Authors:
Tony Addison, Channing Arndt, and Finn Tarp
Publication date:
January 2010
ISBN 13 Web:
978-92-9230-236-8
Copyright holder:
© UNU-WIDER
Copyright year:
2010
Keywords:
financial crisis, global food prices, climate change
JEL:
F0, O1
Sponsor:
UNU-WIDER gratefully acknowledges the financial contributions to its research programme by the governments of Denmark (Royal Ministry of Foreign Affairs), Finland (Ministry for Foreign Affairs), Sweden (Swedish International Development Cooperation Agency—Sida) and the United Kingdom (Department for International Development).
Format:
online and printed copies

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