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Begin New Search Political Geography Global Focus Publication Year within 10 Years

31. The Future of Official Development Assistance: Incremental Improvements or Radical Reform?

Author:
Masood Ahmed, Rachael Calleja, and Pierre Jacquet
Publication Date:
01-2025
Content Type:
Special Report
Institution:
Center for Global Development (CGD)
Abstract:
Over the last decade, donor country governments have faced new and additional demands for financing international challenges, including providing global public goods (GPGs) and addressing historically high numbers of refugees and humanitarian crises. They have partly done so by re-allocating their official development assistance (ODA) away from its original aim: to support poverty reduction and growth in developing countries. This has led to questions about the integrity and credibility of ODA. These questions are only likely to grow more pertinent in the coming decade because the pressures on ODA—and on public finances more broadly—are here to stay. ODA budgets are being cut in a number of traditional donor countries and what remains is increasingly being deployed to meet emerging needs beyond traditional development and to reflect a more national security perspective on development cooperation. The time is right, therefore, to ask whether the concept and accounting for ODA need to be modified to ensure that the needy and vulnerable it was designed to serve continue to be protected in the face of fiscal constraints and changing geopolitical circumstances. This report, a compendium on the future of ODA, aims to provide fresh thinking and inspire the action needed for ODA to remain relevant and effective. It brings together reflections and proposals from leading experts and practitioners, including the under-secretary-general and executive director of UNOPS to a former DAC chair, to inform policymakers. In this executive summary, we will introduce the key arguments from the compendium contributors. The contributions are organised into four key areas of discussion that reflect the main themes raised in this compendium: the rationale for ODA reform, the political and institutional realities shaping reform, using ODA for climate and leveraging private finance, and forward-looking proposals for reimagining ODA’s role and purpose.
Topic:
Development, Finance, Humanitarian Crisis, Donors, and Foreign Assistance
Political Geography:
Global Focus

32. Aligning International Banking Regulation with the SDGs

Author:
Liliana Rojas-Suarez
Publication Date:
02-2025
Content Type:
Policy Brief
Institution:
Center for Global Development (CGD)
Abstract:
Basel III—the international standard for banking regulation—has strengthened global financial stability but has also led to unintended consequences that may hinder progress toward key Sustainable Development Goals (SDGs). This paper examines how Basel III’s regulatory framework may restrict bank lending to SMEs (impacting SDG 10) and constrain infrastructure finance (impacting SDG 8). Addressing these challenges requires refining risk assessment methodologies while preserving Basel III’s core objective: accurate risk evaluation. For SMEs, tailoring risk weights using local credit registry data can better reflect economic conditions in emerging markets. For infrastructure, recognizing it as a distinct asset class and leveraging credit risk mitigation tools could improve financing. Greater engagement from multilateral institutions, particularly the World Bank, is essential to advancing these solutions while maintaining financial stability.
Topic:
Regulation, Financial Stability, Banking, and Sustainable Development
Political Geography:
Global Focus

33. Planned Relocation of Climate-Vulnerable Communities: Preparing Multilateral Development Banks

Author:
Steven Goldfinch and Samuel Huckstep
Publication Date:
02-2025
Content Type:
Policy Brief
Institution:
Center for Global Development (CGD)
Abstract:
Planned relocation of highly climate-vulnerable communities is becoming increasingly necessary as climate shocks become more frequent and intense. It is also becoming more feasible as modelling of future scenarios improves and adaptation limits become clearer. Despite this, many governments are underprepared for planning and implementing planned relocation projects. In the absence of an intergovernmentally agreed framework or set of principles on planned relocation, development finance, and specifically climate finance, is not well positioned to respond to this emerging demand from countries. This is heightened by a widespread absence of coherent domestic policies, and by institutional gaps in international assistance. Multilateral development banks, in particular, could be well-placed to fill this gap. They have extensive experience in undertaking relocation projects, including in contexts of climate adaptation. Multilateral development banks will increasingly field borrower country demand for both technical and financial assistance. They are, however, not yet prepared to meet this demand, nor are countries adequately equipped to make applications for support. This paper outlines emerging public policy regarding planned relocation, draws from existing standards on development-forced displacement and resettlement, and explores entry points for development financiers in providing technical assistance and finance. The paper proposes recommendations to multilateral development banks and the global climate funds on engaging in this emerging area.
Topic:
Climate Change, Development, Refugees, Displacement, Resettlement, and Banking
Political Geography:
Global Focus

34. Practical Guidance for Integrating Climate into WPS National Action Plans

Author:
Christina Vetter and Jessica Smith
Publication Date:
03-2025
Content Type:
Special Report
Institution:
Georgetown Institute for Women, Peace and Security (GIWPS)
Abstract:
In this practical guidance note, the Georgetown Institute for Women, Peace and Security explores the capacity for National Action Plans on Women, Peace and Security (WPS NAPs) to be effective tools for national-level implementation of the WPS Agenda that is responsive to climate-related security risks. WPS NAPs have become the primary tool for national-level efforts to implement the WPS Agenda. To remain relevant and effective, NAPs must be responsive to the ever-changing security landscape and emerging threats to peace and security, like climate change. While the share of NAPs that mention climate change has slowly increased, many include just one cursory reference to climate change in the background section that does not comprehensively address the impacts of climate-related security risks across all four pillars of WPS or include specific actions or commitments related to climate in the NAP’s implementation framework. This report presents actionable policy recommendations for WPS NAPs to more meaningfully address climate change and related security risks throughout their design, drafting, and implementation. The report, authored by Christina Vetter and Dr. Jessica Smith, was made possible with support from the Embassy of Denmark in Washington, D.C.
Topic:
Security, Climate Change, Women, and Peace
Political Geography:
Global Focus

35. Advancing Gender, Climate, and Security in the UN Security Council: A Blueprint for Action

Author:
Jess Keller
Publication Date:
03-2025
Content Type:
Working Paper
Institution:
Georgetown Institute for Women, Peace and Security (GIWPS)
Abstract:
In this policy brief, the Georgetown Institute for Women, Peace and Security presents recommendations for advancing gender, climate, and security in the UN Security Council and opportunities for Member States and other relevant stakeholders to drive progress on these interconnected challenges. Despite growing recognition of how climate change multiplies risk and poses a threat to international peace and security, efforts to make climate change a standing item on the Security Council’s agenda have failed. Climate change disproportionately impacts women and threatens their security, yet frameworks like the Women, Peace and Security (WPS) Agenda have been slow to integrate climate considerations into thematic resolutions and National Action Plans (NAPs) on WPS. The international community must rapidly scale-up efforts to bridge these policy gaps and holistically address challenges at the nexus of gender, climate, and security. This policy brief explores best practices and offers specific recommendations for the Security Council, Member States, and international actors to integrate gender-responsive climate considerations into global peace and security efforts. The report, authored by Jess Keller, was made possible with support from the Embassy of Denmark in Washington, D.C.
Topic:
Climate Change, Women, Peace, UN Security Council, and Gender
Political Geography:
Global Focus

36. AI Governance and Geopolitical Challenges: What’s Next after Italy’s G7 Presidency?

Author:
Federica Marconi
Publication Date:
01-2025
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
Profound technological developments have marked recent years, coupled with increasing geopolitical instability and economic fragmentation driven by rising tensions between major powers. Emerging technologies, particularly artificial intelligence (AI), have been at the core of global competition due to their potential for enhancing productivity and fostering innovation. The technological race has started to extend also to the definition of global AI governance frameworks, with the United States, the EU and China pursuing divergent regulatory approaches and striving to influence countries, especially in the Global South, that are looking at the existing models for their national regulatory systems. Against this backdrop, international fora such as the G7 are called upon to play a key role in fostering dialogue on how to reconcile these divergent perspectives and shape global governance for AI.
Topic:
International Political Economy, Governance, G20, G7, and Digital Policy
Political Geography:
Italy and Global Focus

37. Dollar Colonisation: The Destructive Policy Implications of Modern Monetary Theory

Author:
Photis Lysandrou
Publication Date:
01-2025
Content Type:
Working Paper
Institution:
City Political Economy Research Centre (CITYPERC), University of London
Abstract:
Modern monetary theory argues that all governments that issue their own currency have the same policy space. The present paper argues that this position is wrong. For it to be valid, abstraction must be made from the gravitational force of the US dollar that stems from its backing mass of securities and is transmitted through international investment flows. On recognition of this gravitational force, it becomes clear that the huge size disparity separating the US financial market from those of other markets, and most notably those of the EMEs, translates into an equally huge disparity regarding policy space. The policy implications for EME governments are that they should, where possible, join their financial markets into regional blocs of sufficient sizes as can give their regional currencies enough backing mass to allow them to resist the gravitational pull of the dollar. Only by pooling their currency sovereignty can EME governments retain some scope for pursuing policies independently of those pursued by the US government. On the contrary, any such scope is destroyed if EME governments in countries with small financial markets follow the MMT's advice to retain their local currencies because that advice condemns these currencies to entrapment in the dollar's gravitational field and even possibly to outright dollar colonisation.
Topic:
Currency, Dollar, Colonization, and Modern Monetary Theory
Political Geography:
Global Focus

38. IMF, Structural Adjustment, and Poverty: A Cross-National Difference-in-Differences Analysis, 1980-2018

Author:
Shih-Yen Pan, Lawrence P. King, and Elias Nosrati
Publication Date:
01-2025
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
The International Monetary Fund (IMF) has been one of the world’s most powerful international organizations in setting the parameters for economic reforms in the developing world. In this study, using data from 1980-2018 from 57 countries, we test competing hypotheses surrounding the impact of the IMF’s lending programs on poverty incidence in participant countries. Departing from the prevailing practice of relying on instrumental variables, we employ a novel difference-in-differences approach that ensures clean comparisons between “treatment” and “control” units based on their program participation histories. Besides providing a quantitative estimate of the average program effect, we evaluate whether the IMF’s alleged anti-poverty focus in recent decades has made any difference. We find that IMF program participation leads to large increases (3.6-5.7 percentage points) in the proportion of a country’s population living under the $3.65/day and $6.85/day international poverty lines (2017 PPP) and the countryspecific Societal Poverty Line. We also find that the poverty reduction measures incorporated by the IMF into its programs have not been effective in mitigating the poverty-increasing program effects. Overall, our findings show that IMF programs have been detrimental to the welfare of vulnerable populations in participant countries.
Topic:
Development, Economics, International Organization, and IMF
Political Geography:
Global Focus

39. Investing in a Green Future: Finance, Industrial Policy and the Green transition

Author:
Ramaa Vasudevan
Publication Date:
01-2025
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
We present a framework to assess green climate finance and the pathways to building a climate aligned financial system. This would involve the strategic reorientation of central bank interventions, national development banks and multilateral and regional banks and coherent purposive collaborations between these institutions and interventions to decisively reshape the contemporary global financial system that is out of tune with the long-term imperatives of climate action. Aligning finance to climate goals at the necessary scale, pace and direction requires the calibration of financial flows across three axes: ‘public-private’; ‘real-financial’ and ‘national-international’. Along the first axis the naturedepleting, climate imperiling logic of short-term private profitability needs to be contained in order to pursue the public priorities of climate action. Along the second axis, policy efforts have to be geared to ensuring that financial flows are financing investments in climate mitigation and adaptation and not simply providing more fodder for the global portfolio glut and financial accumulation. Finally, along the third axis warding global funding and support on appropriate terms has to be provided to the most vulnerable countries while buttressing national ownership of the green mission.
Topic:
Climate Change, Industrial Policy, Banking, and Green Transition
Political Geography:
Global Focus

40. The Distribution of Climate Finance among Annex-II Countries: A CBDR-RC Approach for Partial Funding of the Developing Countries

Author:
Shouvik Chakraborty
Publication Date:
01-2025
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
Developing nations face the significant challenge of reconciling their efforts in climate change mitigation with the urgent need for financial resources to adapt to climate-related disasters, achieve sustainable development, and stabilize their economies. The financial requirements for addressing climate impacts span various sectors, including energy transition, energy efficiency, transportation, agriculture, forestry, other land use (AFOLU), and adaptation strategies. Estimates provided by reputable international organizations, such as the International Energy Agency (IEA), the International Renewable Energy Agency (IRENA), and the Intergovernmental Panel on Climate Change (IPCC), suggest that the annual global climate finance needs may range from $4.2 trillion to $5.7 trillion. Within this framework, the share allocated to developing countries is estimated to constitute approximately $1.9 trillion to $2.0 trillion annually, mainly to support mitigation efforts. It is widely acknowledged that developing countries are unlikely to meet these financial demands independently. Consequently, it is projected that around $1 trillion must be sourced from advanced economies, particularly the AnnexII countries. This paper introduces a methodology grounded in the principles of common but differentiated responsibility and respective capability (CBDR-RC). It facilitates a structured distribution of financing responsibilities among Annex II nations. The methodology incorporates the notion of historical responsibility, quantified as carbon debt, while also measuring capability through a balanced consideration of the wealth and gross domestic product (GDP) of the AnnexII countries. The analysis conducted reveals that the United States of America (USA) is required to contribute nearly half of the total financial obligations among the AnnexII countries, with the remaining funds to be apportioned among other nations within this group.
Topic:
Development, Finance, Climate Finance, and Burden Sharing
Political Geography:
Global Focus