Gallagher in BWP: China Goes Global With Development Banks
Kevin Gallagher, Professor of Global Development Policy at the Frederick S. Pardee School of Global Studies at Boston University, said the impact of China’s massive increase in development finance for developing countries provides a useful alternative to Western-dominated institutions.
Gallagher made the argument in an April 5, 2016 article he penned for The Bretton Woods project entitled “China Goes Global With Development Banks.”
From the text of the article:
These banks and funds have the potential to provide an enormous increase in the availability of development finance for a world economy in desperate need of public finance for long-run economic development that is environmentally sustainable and socially inclusive. What is more, they have the potential to provide an alternative to the Western-dominated system that has struggled to fill the glaring gaps in development finance, particularly in infrastructure, and to maintain legitimacy among many borrowing countries and segments of civil society.
Gallagher co-authored the piece with Rohini Kamal, Research Fellow at the Global Economic Governance Initiative (GEGI), a research initiative of the Pardee School.
Gallagher co-directs the Global Economic Governance Initiative and is the co-chair of the Task Force on Regulating Capital Flows and has served as an advisor to the Department of State and the Environmental Protection Agency in the United States, as well as to the United Nations Conference on Trade and Development. You can learn more about him here.