Retooling development aid in the 21st century : the importance of budget support / Shahrokh Fardoust, Stefan Koeberle, Moritz Piatti-Fünfkirchen, Mark Sundberg, Lodewijk Smets.

Format:

Book

Author/Creator:

Fardoust, Shahrokh, 1949- author.

Koeberle, Stefan, 1965- author.

Piatti-Fünfkirchen, Moritz, author.

Sundberg, Mark, author.

Smets, Lodewijk, author.

Series:

Oxford scholarship online.

Oxford scholarship online

Language:

English

Subjects (All):

Economic assistance--Developing countries--History--21st century.

Economic assistance.

Economic development--Developing countries--History--21st century.

Economic development.

Economic development--Finance--Developing countries.

Physical Description:

1 online resource (294 pages)

Place of Publication:

Oxford : Oxford University Press, 2023.

Summary:

Global threats such as pandemics, climate change, inequality, low growth, and conflict have made it more difficult to achieve the Sustainable Development Goals. This book examines the role of budget support in effectively responding to new realities developing countries face set against the backdrop of dramatically changing economic architecture.

Contents:

cover

titlepage

copyright

Foreword

Preface

Acknowledgements

Contents

List of Figures

List of Tables

List of Boxes

Abbreviations and Glossary

Notes on Authors

Overview and Summary

1 The Purpose and Promise of Budget Support

Historical Evolution

Phase 1: Filling the Gaps (1980-1990)

Phase 2: Getting Prices Right (1990s-early 2000s)

Phase 3: Governance and Ownership (2000s-2010)

The Washington Consensus and Structural Reforms

Aid Effectiveness and the Quality of Aid

The Millennium Consensus on Aid Effectiveness

Scaling up Aid and Reliance on Country Systems

A New Aid Architecture Emerges

The Paris Declaration Principles

The Promise of Budget Support

Common Design Features

Conditionality

Donor Approaches to Budget Support

Phase 4: Searching for a Narrative (since 2011)

Conclusion

2 Global Finance and the Changing Aid Landscape

Official Aid and Development Goals

Setbacks in Financing and Development

Official Development Assistance in 2020-21

Financial Implications of the COVID-19 Pandemic

The Debt Problem

The Role of Multilateral Development Banks in Financing Investments

Financial Policy Response to the Pandemic

Increasing Lending by MDBs by Optimizing Their Balance Sheets

China's Emergence as a Global Lender and Investor

New SDR Allocations

The Role of Private Investment in Financing Development

The Changing Aid Landscape

Impact Investing

Private Foundations

Remittances

Capital Flows to Developing Countries and Global Economic Conditions

Debt Finance

Equity Investments

Guarantees by Multilateral Development Banks

Combining Budget Support and Guarantees: Policy-Based Guarantees

Coming Financial Turbulence: Budget Support to Rescue?

3 The Evolution of Budget Support.

The Growth of Budget Support in Official Development Assistance

Budget Support during Times of Crisis

Pursuing Medium-Term Programmatic Support

Crowding in Private Finance

Budget Support in Fragile and Conflict-Affected Settings

Institutional Capacity of Budget Support Recipients

The Evolution of Conditionality and General Thematic Focus

4 The Performance of Budget Support

Budget Support Performance at the Programme Level

Budget Support Performance at the Country Level

Budget Support and Public Sector Governance Reform

Budget Support and Social Policy Reform

Budget Support and Economic Policy Reform

Budget Support and Economic Crises

Budget Support and Country Context

Budget Support and the Paris Declaration principles

Country Ownership

Financing Predictability

Use of Country Systems

Focus on Results

Donor Harmonization

5 Promise, Disenchantment, and Sobriety: Learning from Experience with Budget Support

Aid Coordination and the Paris Agenda for Aid Effectiveness

The Political Economy of Aid Effectiveness

Erosion of the Poverty Reduction Strategy Paper Process

Overloading of Conditionality through Donor Coordination

Political Conditionality

Incoherent Donor Responses

Domestic Factors in Recipient Countries

Internal Factors of Donors

Internal Factors Affecting Multilateral Support for Budget Support

Aid Flows and Changing Aid Architecture

Changes in the Prevailing Development Paradigm: The Search for a New Narrative

6 How Can Budget Support Meet 21st Century Challenges?

Why Budget Support Is Vital to Meeting 21st Century Development Challenges

Persuading the Sceptics

Public Financial Management and Fiduciary Concerns

Restoring Political Support among Donors

Dispelling Fears of Aid Dependency.

Delivering on Country Ownership

Addressing the Fungibility Critique

Strengthening Donor Harmonization and Alignment

Addressing Core Design Challenges in Future Budget Support

From Conditionality to Concurrence

Country Typology

Mobilizing Development Finance

Motivating Collective Action

Recommendations for Forging More Effective Budget Support

Addressing Unforeseen Crises

Sustained Programmes to Support Policy and Institutional Reform

Supporting the Global Commons

Appendix A: Data and Methods

Appendix B: Additional Tables

Appendix C: Policy Impact of Budget Support: Econometric Specification

Appendix D: Policy Impact of Budget Support: Data and Methodology

Appendix E: Policy Impact of Budget Support During Economic Crises: Regression Results

Appendix F: Policy Impact of Budget Support by Country Context: Regression Results

Appendix G: Policy Impact of Budget Support and the Paris Declaration Principles: Regression Results

Bibliography

Endorsements for ``Retooling Development Aid in the 21st Century: The Importance of Budget Support''

Index.

Notes:

Also issued in print: 2023.

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (viewed on May 22, 2023).

ISBN:

0-19-197666-0

0-19-288228-7

0-19-288229-5

OCLC:

1375297102