{"id":1883,"date":"2017-10-09T11:27:35","date_gmt":"2017-10-09T16:27:35","guid":{"rendered":"https:\/\/www.bu.edu\/gdp\/?p=1883"},"modified":"2021-08-13T16:23:09","modified_gmt":"2021-08-13T20:23:09","slug":"new-policy-briefs-developing-countries-lead-the-way-for-global-economic-governance","status":"publish","type":"post","link":"https:\/\/www.bu.edu\/gdp\/2017\/10\/09\/new-policy-briefs-developing-countries-lead-the-way-for-global-economic-governance\/","title":{"rendered":"Developing Countries Lead the way for Global Economic Governance"},"content":{"rendered":"
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As members of the Western-led financial institutions, the International Monetary Fund and the World Bank, meet with finance ministries and central banks in Washington over the next few days, the center of gravity for leadership is shifting to other shores. \u00a0Since the global financial crisis that occurred over a decade ago, there is now more than $15 trillion in short-term liquidity financing available in the world economy and $6 trillion in development finance.\u00a0\u00a0<\/span>According a new policy brief \u201cRemapping Global Economic Governance: Rising Powers and Global Development Finance\u201d by the Global Economic Governance Initiative (GEGI) at Boston University\u2019s Global Development Policy Center (GDP Center), 63 percent of all the emergency short-term liquidity finance to mitigate financial crises and over 80 percent of all development banking finance is now housed in emerging market and developing countries.<\/div>\n

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According to a second GEGI policy brief, published by the GDP Center and the Center for New Structural Economics at Peking University, development banks from emerging market and developing countries are also making deep inroads into financing progress toward the Sustainable Development Goals\u2014though they face unique challenges as well. \u00a0The policy brief \u201cLeading from the South: Development Finance Institutions and Green Structural Transformation\u201d shows how many developing country-led regional and national development banks are leading forces for low-carbon energy finance across the developing world. \u00a0The Islamic Development Bank already earmarks 28 percent of all energy finance toward green energy and has even higher goals moving forward. \u00a0The New Development Bank and the Asian Infrastructure Bank are brand new but have incorporated green energy finance into their mandates from the get go. The China Development Bank, the largest development bank in the world, has begun to finance green energy, and others such as the Development Bank of Southern Africa in South Africa and Mexico\u2019s Nacional Financiera have found creative ways to stretch smaller balance sheets toward green energy.<\/div>\n

 <\/p>\nRemapping Global Economic Governance: Rising Powers and Global Development Finance<\/a>\n

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Leading from the South: Development Finance Institutions and Green Structural Transformation (ENGLISH)<\/a><\/p>\n

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Leading from the South: Development Finance Institutions and Green Structural Transformation (CHINESE)<\/a><\/p>\n<\/div>\n

The Global Development Policy Center is a Boston University wide research center in partnership with the Pardee School of Global Studies. \u00a0The GDP Center\u2019s mission is to advance policy oriented research on financial stability, human wellbeing, and environmental sustainability.<\/div>\n

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As members of the Western-led financial institutions, the International Monetary Fund and the World Bank, meet with finance ministries and central banks in Washington over the next few days, the center of gravity for leadership is shifting to other shores. \u00a0Since the global financial crisis that occurred over a decade ago, there is now more […]<\/p>\n","protected":false},"author":10390,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1151,70,66,92,72,106,77,31],"tags":[211],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts\/1883"}],"collection":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/users\/10390"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/comments?post=1883"}],"version-history":[{"count":26,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts\/1883\/revisions"}],"predecessor-version":[{"id":5044,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts\/1883\/revisions\/5044"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/media?parent=1883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/categories?post=1883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/tags?post=1883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}