| Title | New sources of development finance : funding the Millennium Development Goals |
| Publication Type | Book |
| Year of Publication | 2004 |
| Authors | Atkinson, AB |
| Secondary Title | Policy brief / UNU-WIDER |
| Volume | no. 10 |
| Pagination | v, 27 p. : 2 boxes, 3 fig., 1 tab. |
| Date Published | 2004-09-01 |
| Publisher | UNU World Institute for Development Economics Research (WIDER) |
| Place Published | Helsinki, Finland |
| ISSN Number | 9291906506 |
| Keywords | financing, millennium development goals, policies, sdipol |
| Abstract | Innovative ways are examined to mobilise resources for economic development, in order to secure the doubling of flows required to achieve the MDGs by 2015. Seven new funding sources are considered : 1) global environmental taxes (carbon-use tax), 2) tax on currency flows, 3) creation of new Special Drawing Rights, 4) International Finance Facility, 5) increased private donations for development, 6) global lottery and global premium bond, and 7) increased remittances from emigrants. The two global taxes considered could yield revenue of the magnitude required (tax on carbon use) or half of the requirement (Tobin tax at a rate of 2 basis points). An alternative to global taxation is the International Finance Facility (IFF) proposed by the UK government that could yield flows over the crucial period up to 2015 of the magnitude required, if supported by other major donors. There is a distinct risk of crowding out by countries signing up to the IFF. They may implicitly offset this commitment against their regular ODA. Any realistic programme has to consist of a package of measures, in order to make its introduction more likely. The assets and disadvantages of all seven funding sources are presented in a clear-cut framework. |
| Custom 1 | 128 |
