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Publications (30)
Working Paper
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Efforts to realize the issue of development-focused Special Drawing Rights (SDR) by the International Monetary Fund (IMF) have been on-going for many years. Recently, however, the campaign first gained a new momentum immediately after the Asian financial crises with the new liquidity problems of...
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– Issues and Evidence
Remittances, after foreign direct investment, are currently the most important source of external finance to developing countries. Remittances surpass foreign aid, and tend to be more stable than such volatile capital flows as portfolio investment and international bank credit. Remittances are also...
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– Over-Arching Issues
In analysing proposals for new sources of development funding, there are several issues that arise across the board. What is the role of new sources in relation to existing overseas development assistance? Should we be seeking new sources that generate a double dividend? Can the key elements of a...
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This paper considers lessons from the practice of fiscal federalism for guidance on new approaches to development finance. Despite the fact that inter-regional redistribution in a federation relies on a central government with strong fiscal powers, the form of that redistribution can be used as a...
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This paper considers the role of global environmental taxes both as instruments for improving the global environment and as a source of revenue for funding economic development. It reviews the general case for environmental taxes and the particular issues that arise for the adoption of such taxes in...
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Charitable donations by private individuals and firms can help fund the Millennium Development Goals. What are the prospects for increasing donations for international development, whether from small-scale donors, the super-rich (as in the recent gifts by Bill Gates and Ted Turner), or the corporate...
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– A Critical Appraisal
The paper assesses the potential of currency transaction taxes (CTT, widely known as the Tobin tax), to raise revenue for global development. Though Tobin proposed and others assessed CTTs in terms of reducing exchange rate volatility and improving macroeconomic policy environments, this paper...
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The world lottery market now amounts to at least US$126 billion in sales. World market sales for all gaming products (public, charitable and commercial) total some US$1 trillion, of which Internet gambling accounts for US$32 billion. This paper assesses the prospects for harnessing this large and...
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– The UK HM Treasury-DFID Proposal to Increase External Finance to Developing Countries
The paper discusses the International Finance Facility (IFF), a joint HM Treasury–DFID proposal to increase development aid substantially for the Millennium Development Goals to be achieved by 2015. The main conclusion of the paper is that the proposed IFF is a promising, forward-looking and...
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This paper analyses the trends in within-country inequality during the post-World War II period, with particular attention to the last 20 years, on the basis of a review of the relevant literature and of an econometric analysis of inequality trends in 73 countries accounting for 80 per cent of the...
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Inequality has risen in many countries over the last two decades, especially in the transition economies, but also in many developing and developed economies. This is disturbing since little progress can be made in poverty reduction when inequality is high and rising. Moreover, contrary to earlier...
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– Evidence and Interpretation
Until recently, the literature on income inequality within countries suggested that trends in this area had remained stable over the last few decades, and that there is no relation between changes in inequality on the one side and domestic and external liberalization on the other. Against this...
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This study evaluates the impact of the over seventy Social Funds (SFs) which were introduced since the mid-1980s to offset the surge in poverty spurred by adjustment. SFs benefited from greater visibility and financial support by the donor community than traditional social security programmes, and...
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As seen from the year 2001, economic policy in developing and post-socialist economies during the preceding 10-15 years had one dominating theme - external 'liberalization' or the drastic lowering or removal of long-standing barriers to almost all international transactions in markets for goods and...
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This paper reviews income distribution in developing (and transition) countries in recent decades. On average, before-tax income distribution is less unequal in developing countries than it is in industrial countries. However, unlike industrial countries, developing countries in general have not...
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– A Critical Analysis
Much of the vast literature on changes in income distribution in advanced countries during the last two decades attributes these either to globalization (specifically in the form of trade liberalization with low-wage developing countries), or to skill-biased technology, or to a combination of the...
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