Description

TITLE The New Public Finance : Responding to Global Challenges / ed. by Inge Kaul and Pedro Conceicao.
PUBLISHER/YEAR New York
Oxford University Press
2005
PHYSICAL DESCRIPTION XVIII, 664 p.
BIBLIOGRAPHY Includes bibliographical references and index
ADDED NAME Kaul, Inge ed.
ISBN 0195179978
UDC NUMBER 336
339.7

Copies

Location Address Count Shelf Status
Bibliotēka 01.2 1 336 On a shelf Available to order

Annotation


The book takes stock of how public finance has changed in response to the challenges--exigencies and opportunities--presented by globalization.

The book examines a wide gamut of new and innovative policies and financing instruments that governments can--and increasingly, do--use to manage cross-border risks and respond in a more affordable and sustainable way to global challenges such as avian flu, climate change, excessive financial volatility, commodity price fluctuations, or international terrorism. A more widespread adoption of these policy approaches and tools could allow governments to better combine openness and competitiveness with stability and fairness and foster a new, less crisis-prone world.

At the national level, a major new role that characterizes the modernization of public finance is the blending by the state of external and domestic policy demands. Governments are undertaking new tasks, including fostering policy harmonization behind national borders, preventing negative externalities from spilling over or external shocks from spilling in and undermining the country's stability or the security of its people. Through these new tasks, public and private resources are channeled towards making international cooperation behind national borders happen.

But to be resolved effectively and efficiently, many global issues also require some form of cooperation abroad, beyond borders. The instruments that are being introduced into the international realm to deal with issues like global climate stability, terrorism, communicable diseases, or economic and financial crises, are increasingly those that reflect new balancing roles for markets and states. As a result, the nature of international cooperation is changing fundamentally--from being a predominantly intergovernmental process and concerned with "foreign" affairs to a multi-actor process, based on public-private partnering and concerned with common issues, that is issues, which straddle across the domestic/foreign divide and bind nations and their people together.

Contents:

Foreword
Mark Malloch Brown

Prologue
Joseph E. Stiglitz

Acknowledgments

Contributors

OVERVIEW

WHY REVISIT PUBLIC FINANCE TODAY?
WHAT THIS BOOK IS ABOUT
Inge Kaul and Pedro Conceição

THE CHANGES UNDERWAY
FINANCING GLOBAL CHALLENGES THROUGH INTERNATIONAL COOPERATION
BEHIND AND BEYOND BORDERS

Inge Kaul and Pedro Conceição

1. THE NEW NATIONAL PUBLIC FINANCE
TAKING THE OUTSIDE WORLD INTO ACCOUNT

BLENDING EXTERNAL AND DOMESTIC POLICY DEMANDS
THE RISE OF THE INTERMEDIARY STATE
Inge Kaul

MAKING POLICY UNDER EFFICIENCY PRESSURES
GLOBALIZATION, PUBLIC SPENDING, AND SOCIALWELFARE
Vito Tanzi

INTERNALIZING CROSS-BORDER SPILLOVERS
POLICY OPTIONS FOR ADDRESSING LONG-TERM FISCAL CHALLENGES
Peter S. Heller

MANAGING RISKS TO NATIONAL ECONOMIES
THE ROLE OF MACRO MARKETS
Robert J. Shille
r

COMBINING FISCAL SOVEREIGNTY AND COORDINATION
NATIONAL TAXATION IN A GLOBALIZINGWORLD
Peggy B. Musgrave

RECOGNIZING THE LIMITS TO COOPERATION BEHIND NATIONAL BORDERS
FINANCING THE CONTROL OF TRANSNATIONAL TERRORISM
Todd Sandler

2. THE NEW INTERNATIONAL PUBLIC FINANCE
RELYING ON PUBLIC-PRIVATE COOPERATION AND COMPETITION

EXPLORING THE POLICY SPACE BETWEEN MARKETS AND STATES
GLOBAL PUBLIC-PRIVATE PARTNERSHIPS
Inge Kaul

ACCOMMODATING NEW ACTORS AND NEW PURPOSES IN INTERNATIONAL COOPERATION
THE GROWING DIVERSIFICATION OF FINANCING MECHANISMS
Pedro Conceição

MAKING THE RIGHT MONEY AVAILABLE AT THE RIGHT TIME FOR INTERNATIONAL COOPERATION
NEW FINANCING TECHNOLOGIES
Pedro Conceição, Hari Rajan, and Rajiv Shah

TAKING SELF-INTEREST INTO ACCOUNT
A PUBLIC CHOICE ANALYSIS OF INTERNATIONAL COOPERATION
Philip Jones

3. THE NEW INTERNATIONAL PUBLIC FINANCE
INVESTING IN GLOBAL PUBLIC GOODS PROVISION ABROAD

IDENTIFYING HIGH-RETURN INVESTMENTS
A METHODOLOGY FOR ASSESSINGWHEN INTERNATIONAL COOPERATION PAYS--AND FOR WHOM
Pedro Conceição and Ronald U. Mendoza

MAKING INTERNATIONAL COOPERATION PAY
FINANCING AS A STRATEGIC INCENTIVE
Scott Barrett

COMPENSATING COUNTRIES FOR THE PROVISION OF GLOBAL PUBLIC SERVICES
THE TOOL OF INCREMENTAL COSTS
Kenneth King

CREATING NEW MARKETS
THE CHICAGO CLIMATE EXCHANGE
Richard L. Sando
r

USING MARKETS MORE EFFECTIVELY
DEVELOPING COUNTRY ACCESS TO COMMODITY FUTURES MARKETS
C. Wyn Morgan

ASSESSING CONTRACTUAL AND STATUTORY APPROACHES
POLICY PROPOSALS FOR RESTRUCTURING UNSUSTAINABLE SOVEREIGN DEBT
Barry Eichengreen

PLACING THE EMPHASIS ON REGULATION
LESSONS FROM PUBLIC FINANCE IN THE EUROPEAN UNION
Brigid Laffan

4. THE NEW INTERNATIONAL PUBLIC FINANCE
ENHANCING AID EFFICIENCY

USING AID INSTRUMENTS MORE COHERENTLY
GRANTS AND LOANS
Paul Collier

RECTIFYING CAPITAL MARKET IMPERFECTIONS
THE CONTINUING RATIONALES FOR MULTILATERAL LENDING
Yilmaz Akyüz

PULLING NOT PUSHING REFORMS
DELIVERING AID THROUGH CHALLENGE GRANTS
Steve Radelet

OVERCOMING COORDINATION AND ATTRIBUTION PROBLEMS
MEETING THE CHALLENGE OF UNDERFUNDED REGIONALISM
Nancy Birdsall

REDUCING THE COSTS OF HOLDING RESERVES
A NEW PERSPECTIVE ON SPECIAL DRAWING RIGHTS
Jacques J. Polak and Peter B. Clark

CREATING INCENTIVES FOR PRIVATE SECTOR INVOLVEMENT IN POVERTY REDUCTION
PURCHASE COMMITMENTS FOR AGRICULTURAL INNOVATION
Michael Kremer and Alix Peterson Zwane

MITIGATING THE RISKS OF INVESTING IN DEVELOPING COUNTRIES
CURRENCY-RELATED GUARANTEE INSTRUMENTS FOR INFRASTRUCTURE PROJECTS
Stephany Griffith-Jones and Ana Teresa Fuzzo de Lima

ANNEXES
FURTHER READING
GLOSSARY
ABOUT THE CONTRIBUTORS
INDEX

Contact information

Any questions? Write us

Help

Follow us

Links