The rise of regional financial arrangements (RFAs) over the last two decades has significantly reshaped the Global Financial Security Net (GFSN), which was previously almost the sole purview of the International Monetary Fund (IMF). While the rise in regionally based financial resources has been widely noted, as have the challenges of coordinating IMF and RFA […]
By Amanda Brown On Tuesday, May 2, 2023, the Debt Relief for a Green and Inclusive Recovery (DRGR) Project hosted the webinar launch of its new report, “Debt Relief for a Green and Inclusive Recovery: Guaranteeing Sustainable Development.” The DRGR Project is a collaboration between the Boston University Global Development Policy (GDP) Center, Heinrich-Böll-Stiftung and […]
As the global economy faces increasing challenges in the aftermath of the COVID-19 pandemic, and as interest rates continue to rapidly rise in the United States and across the Global North, emerging market and developing economies (EMDEs) are facing a perfect storm of high inflation, increased borrowing costs and surging debt levels. Against this backdrop, […]
By Timon Forster On March 29, 2023, the Boston University Global Development Policy Center, the Institute for Economic Development and the Department of Economics hosted its annual Paul Streeten Distinguished Lecture in Global Development Policy, which celebrates the legacy of BU Professor Paul Streeten as an eminent economist and interdisciplinary scholar of global development policy. […]
By Marilou Uy and Rishikesh Ram Bhandary The global transformation to achieve low-carbon and climate-resilient development poses macro-critical challenges for countries around the world. Countries need to accelerate the shift to low-carbon investments, build resilience to climate shocks, contend with loss and damage and navigate the cross-border impacts of the climate transition. Developing countries alone […]
A debt crisis is emerging in the Global South at the precise moment when substantial investment is needed to meet shared climate and development goals. Yet, the G20 Common Framework has been unable to engage all creditor classes or link debt relief to climate and development. How can emerging market and developing economies (EMDEs) find […]
Reform of the international financial system is in the air, with support from both developing countries, as well as the advanced economies that wrote the rules in the first place. Tasked by US Secretary of the Treasury Janet Yellen, the World Bank has begun advancing an ‘evolution roadmap’ that reconsiders the mission, operations and financing […]
Much has been written about the questionable legitimacy of extending credit to states where it is likely that the funds will benefit the corrupt leader, or where the terms of the debt are highly inequitable. Less literature focuses on a different moment in the debt cycle: the point of default and the loss of voice […]
While a connection between economists Charles P. Kindleberger and Hyman Minsky is clear, the full extent of their intellectual relationship was unclear. By his own account, Kindleberger’s attention was only first brought to Minsky by Martin Meyer in 1976 as he was looking to build on his renowned book, World in Depression, 1929-1939. Kindleberger and […]
By Timon Forster On February 15, 2023, the Boston University Global Development Policy Center hosted Jamie Martin to discuss his new book ‘The Meddlers: Sovereignty, Empire & the Birth of Global Economic Governance.’ The Meddlers charts the transformation of global economic governance from World War I to the birth of the International Monetary Fund (IMF) […]