The New Public Finance : Responding to Global Challenges

The world's agenda of international cooperation has changed.

The conventional concerns of foreign affairs, international trade, and development assistance, are increasingly sharing the political center stage with a new set of issues.

These include trans-border concerns such as global financial stability and market efficiency, risk of global climate change, bio-diversity conservation, control of resurgent and new communicable diseases, food safety, cyber crime and e-commerce, control of drug trafficking, and international terrorism and weapons of mass destruction.

Globalization and increasing porosity of national borders have been key driving forces that have led to growing interdependence and interlocking of the public domains - and therefore, public policy concerns - of countries, governments, private businesses, civil society, and people at large.