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Half a Century of Proposals for ‘Innovative’ Development Financing

Working Paper Date:
Category: Financing for Development
Author: Barry Herman
Document Symbol: ST/ESA/2013/DWP/125
JEL Classification: F35, F59, H87, N40, O19
Keywords: development cooperation, innovative international financing, global public goods, political economy of aid
Working Paper File:

This paper recalls the history of proposed “innovative” mechanisms by which governments could strengthen financial cooperation for development. Such proposals sought more predictable and assured financial flows to facilitate recipient country programming, while also substantially adding to the volume of highly concessional international support for development. International discussions of these proposals mostly began in the 1960s and in many cases continue today, although implementation thus far has been modest. These discussions are contrasted with generally more recent proposals that proponents call “innovative” but that do not share the characteristics of the more radical thinking underlining the older proposals.

Related Sustainable Development Goals