Development Cooperation in Times of Crisis
Development Cooperation in Times of Crisis
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Abstract
This book revisits the causes of the 2008 global economic collapse, re-evaluating the international response to the crisis and suggesting more effective approaches to development cooperation. It explains how leading governments undertook extraordinary measures to offset the 2008 economic crisis, shoring up financial institutions, stimulating demand to reverse recession and rebalancing budgets to alleviate sovereign debt. The book argues that, while these measures were productive in and of themselves, they were effective because they were coordinated internationally and were matched with sweeping global financial reforms. The volume then shows that, unfortunately, international coordination has weakened after these initial steps. It therefore argues that one of the crisis' adverse effects will be a significant reduction in development cooperation. In response to this challenge, the book redesigns the international cooperation system and its governance, so that it can accept new actors and better achieve the Millennial Development Goals of 2015 within the context of a severe global crisis. Overall, the book provides an assessment of global economic imbalance and the potential of increased cooperation to rectify these inequalities.
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Front Matter
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1
Introduction
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2
The Great Recession and the Developing World
José Antonio Ocampo and others
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3
The International Financial Architecture Seen through the Lens of the Crisis: Some Achievements and Numerous Challenges
Stephany Griffith-Jones andJosé Antonio Ocampo
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4
The Economic Crisis and the International Aid
Andrew Mold andAnnalisa Prizzon
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5
Aid, Institutional Quality, and Taxation: Some Challenges for the International Cooperation System
José Antonio Alonso and others
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6
The New Face of Development Cooperation: The Role of South-South Cooperation and Corporate Social Responsibility
Francisco Sagasti and others
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7
Governance of the Aid System and the Role of the European Union
Owen Barder and others
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End Matter
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