This paper describes the G20's Development Action Plan (DAP) to promote economic growth in some 80 low-income countries. The DAP would deploy existing bilateral and multilateral aid to offset risks to private investment in infrastructure and agriculture projects that promote regional integration.
This publication examines questions such as: What are the roles of Argentina, Brazil and Mexico in the G20? What are the implications of the G20 agenda for Latin America relating to monetary policy; regulation of commodity speculation; employment and social protection; and trade integration?
Our latest issue looks at how the financialization of agricultural markets increased price volatility and how the G20, paradoxically, wants to address this by even greater financialization. It investigates what role the G20 will play in the transformatio of the world economy and in tackling climate change. It also addresses the practice of inviting CEOs of big businesses to G20 summits and calls for a more legitimate approach by inviting business associations that are more representative.
This paper critiques the World Bank's proposed Program for Results (P4R) instrument by examining protections of the environment and affected communities and control of corruption (Part I); the effectiveness of proposed mechanisms of accountability (Part II); and the integrity of the consultation process on the proposed P4R instrument (Part III). Part IV presents conclusions.
This paper examines how the current WTO negotiations propose limits or disciplines on governmental regulations. The paper focuses on regulations that limit or discourage speculators from participating in commodity markets, which contributes to volatility in the prices of food commodities. To demonstrate this point, the paper presents a case study of a specific policy option for regulation of derivatives. It concludes with a description of options for resolving the ambiguity of selected disciplines.
This study examines the question: What are the key issues regarding financial regulation on which transatlantic cooperation (or lack of it) could have an impact? While global regulation of global financial markets can be important, for instance, to prevent arbitrage, it should not be seen as an end in and of itself.
It is certainly laudable that gender equality gets the serious consideration it deserves in the current international development discourse, and having a WDR exclusively focused on gender equality gives it yet another ‘stamp of approval’ of being an intrinsic development issue. Too bad, that the World Bank is not using this occasion to accompany the academic exercise internally with a serious reflection and reconsideration of the Bank’s own understanding of and approach to gender equality.
Historically, Summit agendas have a way of being hijacked by current events and the 2011 Summits will be no exception. On May 26-27, the G8 Summit can be expected to address threats in the Middle East, especially Libya; in the Eurozone (where sovereign debt ratings for Spain and Portugal have been downgraded), and in Japan. Some G20 Leaders want the G8 to die a quiet death; they perceive G8 Leaders “pre-cooking” outcomes for their Summit, which is not until November. Meanwhile, as events unfold, the G8 and G20 Ministers and working groups continue to work in parallel.
This article on the G20 argues that, to date, the centers of capitalism are rejecting proposals which limit or meaningfully regulate excessive financial speculation. However, there are positive proposals, such as the Financial Transactions Tax (FTT), that may gain traction.
In this edition of the newsletter we cover a wide array of issue-areas and opinions:
1) Kirk Herbertson of World Resources Institute and Nancy Alexander of HBS look at the G20 as a standard setter and ask whether it could push for the internalization of environmental and human rights impacts in order to lead to better investment decision-making.
2) Nancy Alexander looks at the implications of the G20 for global governance.
3) Marta Benavides introduces the Global Call to Action against Poverty (GCAP) and the important role of increased civil society involvement in the G20 process.
4) Ilcheong Yi of UNRISD discusses the financial transaction tax and its link to social security.
5) Karen Hansen-Kuhn of IATP gives an update on the on-going discussion within the G20 on commodity and food price volatility, a topic that certainly will remain on the top of the global agenda in 2011.
For more than three decades, transnational corporations have been busy buying up what used to be known as the commons -- everything from our forests and our oceans to our broadcast airwaves and our most important intellectual and cultural works.
After the Seoul summit, we summarize - and criticize - the outcomes of summit: how does South Africa aim to represent the interests of the African continent at the G20 meetings and how is this perceived in other African countries? How could the G20 avoid falling into the same trap as the G8 - announcing well-intentioned programs without delivering them? And what needs to be done to effectively regulate financial markets and commodity speculation?
Two years ago, the group of the world’s 20 major economies (the G20) announced their shared ambition: to manage the global economic crisis more efficiently and more transparently than the old industrialized nations (G8), and to prevent further financial market crises or economic downturns. Only two years later, the G20 now stands at a crossroads. At the Group’s summit meeting in Seoul on November 11 and 12, selfish interests may well gain the upper hand, pushing the group’s previous willingness to cooperate into the background.
Under the heading “More market and more state – for stabile financial markets” the parliamentary group of German Alliance 90/The Greens this summer passed a comprehensive motion asking for a better regulation of financial markets and financial products. The motion demands a strengthening of supervision and banking regulation in order to allow market mechanisms to function again.
On October 22, Nancy Alexander spoke at the Global Capital Forum of the Korean Women's Development Institute about the importance of women's leadership in achieving sustainable development. Her paper appears here.
Gender equality is highlighted as a special theme in the ongoing 16th round of replenishment talks for the World Bank Group’s International Development Association (IDA 16). A discussion about gender equality at the World Bank group is not new. Since 2001, the World Bank has had an official gender mainstreaming strategy. Yet there are some structural weaknesses in the way the World Bank addresses gender considerations that need to be overcome in order for IDA 16 to be able to contribute to gender-equitable development in the poorest developing countries.
There are crises and crises. Some come and go without leaving any lasting trace but others signal a break with the past. You do not need to be much of a prophet to predict that the current global economic shock will go down in the history books as the end of an era.
An important addition to the growing international dialogue about the commons can be found in the new anthology, Genes, Bytes and Emissions: To Whom Does the World Belong? The essays in this book are now available online in English.