New Sources of Development Finance

As their Millennium Development Goals, world leaders have pledged by 2015 to halve the number of people living in extreme poverty and hunger, to achieve universal primary education, to reduce child mortality, to halt the spread of HIV/AIDS, and to halve the number of people without safe drinking water.

Achieving these goals requires a large increase in the flow of financial resources to developing countries - double the present development assistance from abroad. Examining innovative ways to secure these resources, this book sets out a framework for the economic analysis of different sources of funding, applying the tools of modern public economics to identify the key issues.

It examines the role of new sources of overseas aid, considers the fiscal architecture and the lessons that can be learned from federal fiscal systems, asks how far increased transfers impose a burden on donors, and investigates how far one can separate raising resources from their use.

In turn, the book examines global environmental taxes (such as a carbon tax) the taxation of currency transactions (the Tobin tax), a development-focused allocation of Special Drawing Rights by the IMF, the UK Government proposal for an International Finance Facility, increased private donations for development purposes, a global lottery (or premium bond), and increased remittances by emigrants. In each case, it considers the feasibility of the proposal and the resources that it can realistically raise. In each case, it offers new perspectives and insights into these new and controversial proposals.

Table of contents
  1. Innovative Sources to Meet a Global Challenge
    Anthony Barnes Atkinson
  2. Over-Arching Issues
    Anthony Barnes Atkinson
    More Working Paper | Innovative Sources for Development Finance
  3. Environmental Taxation and Revenue for Development
    Agnar Sandmo
    More Working Paper | Environmental Taxation and Revenue for Development
  4. Revenue Potential of the Tobin Tax for Development Finance: A Critical Appraisal
    Machiko Nissanke
    More Working Paper | Revenue Potential of the Currency Transaction Tax for Development Finance
  5. A Development-Focused Allocation of the Special Drawing Rights
    Ernest Aryeetey
    More Working Paper | A Development-focused Allocation of the Special Drawing Rights
  6. The International Finance Facility Proposal
    George Mavrotas
    More Working Paper | The International Finance Facility
  7. Private Donations for International Development
    John Micklewright, Anna Wright
    More Working Paper | Private Donations for International Development
  8. A Global Lottery and a Global Premium Bond
    Tony Addison, Abdur Chowdhury
    More Working Paper | A Global Lottery and a Global Premium Bond
  9. Remittances by Emigrants: Issues and Evidence
    Andrés Solimano
    More Working Paper | Remittances by Emigrants
  10. Global Public Economics
    James A. Mirrlees
  11. National Taxation, Fiscal Federalism, and Global Taxation
    Robin Boadway
    More Working Paper | National Taxation, Fiscal Federalism and Global Taxation
  12. The Way Forward
    Anthony Barnes Atkinson
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