Global Development Policy

We review the Toronto Summit and take a look ahead to Korea’s presidency of the G20 with a distinct focus on development issues, financial market regulation and civil society engagement.

We review the Toronto Summit and take a look ahead to Korea’s presidency of the G20 with a distinct focus on development issues, financial market regulation and civil society engagement.

The World Trade Organization is negotiating “disciplines” on domestic regulation, which is essential for both development and environmental protection. Often ambiguous, some of the draft disciplines can be interpreted as a radical departure from the practice of most nations. They could change the course of regulation and development, particularly within federal systems and in small and vulnerable economies, where government systems are changing.

The World Trade Organization is negotiating “disciplines” on domestic regulation, one of which requires regulations to be “pre-established.” Established before what? If this means, before a development permit is sought, the discipline would limit the government’s authority to change environmental or community impact standards before a permit is issued. If so, this discipline could constrain changes in climate policy or environmental regulation of existing extraction industries.

The World Trade Organization is negotiating “disciplines” on domestic regulation, one of which requires regulations to be “pre-established.” Established before what? If this means, before government can apply regulations to an existing financial institution, the discipline would limit the government’s authority to change “too big to fail” policies or increase developmental lending mandates to serve businesses that are rural, small, or owned by women.

The World Trade Organization is negotiating “disciplines” on domestic regulation that could be more powerful than negotiators realize. They could transform the GATS, the General Agreement on Trade in Services, into the first trade agreement that foreign investors enforce through claims against governments for hundreds of millions of dollars. If so, the magnitude of disputes could change the course of development for a small state or a vulnerable economy.

The purpose of this paper is to contribute to a better understanding of the changes that are taking place in the international normative framework on investment through surveying the European Union and United States’ Free Trade Agreements (FTAs) with developing countries.

The World Bank’s Investment Lending Reforms (ILR) will significantly shift the way in which the institution operates. This re-issued paper contains updated information on the reforms and the implications of these reforms for people and the environment in recipient countries.

In 2009, the World Bank’s Independent Evaluation Group (IEG) released an unprecedented 700-page evaluation which found evidence that the institution is failing to adequately address the risks of fraud and corruption in its assistance programs.