New Sources of Development Finance
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New Sources of Development Finance

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A. B. Atkinson
Unu/Wider Studies in Developme

1. Innovative Sources to Meet a Global Challenge; 2. Over-Arching Issues; 3. Environmental Taxation and Revenue for Development; 4. Revenue Potential of the Tobin Tax for Development Finance: A Critical Appraisal; 5. A Development-Focused Allocation of the Special Drawing Rights; 6. The International Finance Facility Proposal; 7. Private Donations for International Development; 8. A Global Lottery and a Global Premium Bond; 9. Remittances by Emigrants: Issues and Evidence; 10. Global Public Economics; 11. National Taxation, Fiscal Federalism, and Global Taxation; 12. The Way Forward
As their Millennium Development Goals, world leaders have pledged by 2015 to halve the number of people living in extreme poverty and hunger, to achieve universal primary education, to reduce child mortality, to halt the spread of HIV/AIDS, and to halve the number of people without safedrinking water. Achieving these goals requires a large increase in the flow of financial resources to developing countries - double the present development assistance from abroad. Examining innovative ways to secure these resources, this book sets out a framework for the economic analysis of different sources of funding, applying the tools of modern public economics to identify the key issues. It examines the role of new sources of overseas aid, considers the fiscalarchitecture and the lessons that can be learned from federal fiscal systems, asks how far increased transfers impose a burden on donors, and investigates how far one can separate raising resources from their use. In turn, the book examines global environmental taxes (such as a carbon tax) the taxation of currency transactions (the Tobin tax), a development-focused allocation of Special Drawing Rights by the IMF, the UK Government proposal for an International Finance Facility, increased private donations fordevelopment purposes, a global lottery (or premium bond), and increased remittances by emigrants. In each case, it considers the feasibility of the proposal and the resources that it can realistically raise. In each case, it offers new perspectives and insights into these new and controversialproposals.