Development Finance in the Global Economy: The Road Ahead

For much of the last 30 years the global economy has not worked well for most poor countries or for most poor people. 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. Containing contributions from a wide range of economists and political scientists, including those who have been at the centre of the international policy debate, this volume is an essential companion for all scholars and policymakers in this important area.