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Rising levels of public debt fueling fiscal sustainability concerns in many developing countries
Several countries highly vulnerable to a sharp increase in government interest burden in the event of a financial shock
High debt service obligations limit the availability of resources to pursue development objectives
This paper provides an overview of the conceptual and empirical issues involved in the overarching goal of "leaving no one behind" (LNOB). It proposes ways to operationalize LNOB, discusses whether to take a country-focused or person-focused approach, examines various (multidimensional) ways to measure those who are left behind, argues for grounding LNOB on intrinsic and instrumental reasons, suggests ways to identify those at risk of being left behind, and discusses difficult trade-offs with other SDGs for an agenda focused on LNOB.
One of the pillars of the 2030 Agenda for Sustainable Development is the pledge to ?leave no one behind?. This paper argues that we must recognise that many people throughout the world are not just being left behind. They are being pushed even further behind, and their levels of well-being are falling, often in ways from which it is impossible to fully recover.
Global growth expected to reach 3.2 per cent in 2018 and 2019
Key downside risks to the global economy include rising trade tensions, elevated debt and uncertainty over monetary policy adjustments in the developed countries
Recent strengthening of economic growth carries environmental costs
The UN Resolution heralding the Sustainable Development Goals pledges to leave no one behind, and moreover "to reach the furthest behind first". This priority echoes the priority to the worst-off that is being discussed in philosophy, economics and related disciplines, but also the pleas of many actors who represent or fight for the most disadvantaged populations. This paper argues that serious theories do support such a priority and that the best policies implementing this priority do not necessarily involve the most intuitive anti-poverty targeted measures.
The paper focuses on two crucial issues that hinder the fiscal sovereignty of developing countries: the reduced level of international tax cooperation, and the lack of appropriate procedures for sovereign debt crisis resolution. The low level of international tax cooperation enables a race to the bottom in tax rates among countries, tax avoidance through profit-shifting activities by companies and tax evasion by individuals and companies, based on the existence of non-cooperative jurisdictions.
Rising trade tensions pose a risk to the global trade outlook
Africa marks an historic step towards the creation of a regional trade bloc
The paper examines whether the planned eradication of poverty to the year 2030 part of the SDG strategy is compatible with the expected trends in key economic variables such as GDP growth, population growth, income inequality and food prices.
Short-term prospects for the world economy continue to strengthen, but more efforts are needed to ensure the gains are widely shared
Weak productivity growth and a lack of secure employment are constraining progress in many countries in Africa, Latin America and Western Asia
Rising inequality in China and India poses a risk to medium-term growth prospects
This paper presents some of the challenges of the leaving no-one behind mandate. Firstly, how the development cooperation system can be brought up to date; secondly, why cooperation may still be useful and effective in supporting an Agenda beyond ODA; and finally, the way in which resources should be allocated in order to preserve the purpose of development cooperation.