The First BRICS towards a South Bank?
By Devaki Jain
A member of the South Commission (1987-1990) reflects on the moves by the recent Summit of the BRICS to establish a BRICS development bank – an idea that the Commission had promoted.
Summary Table of the Cancun Annex C 28, Special and Differential Treatment Proposals.
The Cancun Annex C containing 28 S&D proposals has been put forward for possible adoption at the WTO’s Ninth Ministerial Conference (MC9) in December 2013. (more…)
Climate Change Financing Requirements of Developing Countries
1. Introduction
This paper surveys the existing literature on the climate change financing requirements of developing countries in the two UNFCCC categories of mitigation and adaptation. The reported estimates are based on the current state of play in estimation exercises. (more…)
Financial crisis deepens: will the lessons be learnt?
By Martin Khor
This time it is Cyprus’ turn to face bitter financial crisis as bank depositors get hit and capital controls are imposed. Will the lessons about these crises ever be learnt?
The Age of Austerity: A Review of Public Expenditures and Adjustment Measures in 181 Countries.
This paper: (i) examines the latest IMF government spending projections for 181 countries by comparing the four distinct periods of 2005-07 (pre-crisis), 2008-09 (crisis phase I: fiscal expansion), 2010-12 (crisis phase II: onset of fiscal contraction) and 2013-15 (crisis phase III: intensification of fiscal contraction); (ii) reviews 314 IMF country reports in 174 countries to identify the main adjustment measures considered in high-income and developing countries; (iv) discusses the threats of austerity to development goals and social progress; and (v) calls for urgent action by governments to adopt alternative and equitable policies for socio-economic recovery. (more…)
Why Chavez’s legacy will live on
By Martin Khor
The death of Hugo Chavez last week sparked an outpouring of grief in Venezuela and South America, but his legacy will live on in his policies and South-South initiatives.
Poor countries hit by US spending cuts
By Martin Khor
The government spending cuts in the United States as the President and Congress fails to reach a deal will also affect poor developing countries as the aid budget especially for food and medicines is reduced.
EU-ACP Economic Partnership Agreements: Current State of Play.
This note provides an overview of the EPA negotiations. It illustrates the fact that the same critical contentious issues persist in the EPAs across various regional blocs. It also highlights the concerns of the highest political authorities of ACP States regarding the EPAs and the inherent dangers for (more…)
Growth in the South: Resilience, Decoupling, Recoupling
By Yilmaz Akyuz
Rapid acceleration of growth in developing countries (DCs) and the widening of their growth gap with advanced economies (AEs) before the outbreak of the global financial crisis were widely interpreted as decoupling of the South from the North. In the early days of the crisis, there were also widespread expectations that growth in the South would be little affected by the difficulties facing AEs. In fact, DCs slowed considerably in 2009 as a result of contraction of exports to AEs and financial contagion. However, they recovered rapidly, with growth rates in 2010-11 matching or exceeding the levels seen before the crisis, while recovery in the US has remained weak and erratic, and Europe has gone into a second dip. This has again revived the decoupling thesis, notwithstanding the sharp slowdown in many major DCs over the course of the current year.
Overview of the Results of UNFCCC COP18/CMP8
I. INTRODUCTION
This overview outlines in summary form the main results of the negotiations during the 18th Conference of the Parties (COP18) and the 8th COP Meeting of the Parties to the Kyoto Protocol (CMP8) that took place in Doha, Qatar, from 27 November to 8 December 2012.
A Climate Conference of Low Ambitions in Doha.
The annual United Nations climate conference held in 2012 in Doha concluded on 8 December with low levels of commitments by the developed countries in two crucial areas — emission cuts by them, and provision of climate financing for developing countries. (more…)
Resolving Debt Crises: How a Debt Resolution Mechanism Would Work
By Martin Khor
More countries are facing a debt crisis, and the world urgently needs an international system of debt arbitration and restructuring. This article describes the elements needed in such a system.
