Development Finance in the Global Economy

For much of the last 30 years the global economy has had a limited impact on poverty alleviation. But there are now grounds for optimism. Presently, global liquidity is ample, pushing investors into parts of the world they previously avoided, and private investment is rising. A new and more positive chapter has begun in Africa's debt story and aid flows have started to rise again after years of stagnation. Yet progress remains tentative, global liquidity and private investment could contract and the recent growth in aid is not enough. Very poor countries still receive too little private capital.

This book explores how international finance can serve the needs of poor countries and poor people, including chapters on multilateral development assistance, multi-actor global funds, and the transition from official development assistance to private capital flows. Containing contributions from a range of economists and political scientists, including some who have been at the centre of the international policy debate, this volume is an essential companion for all scholars and policy-makers in this important area.