Abstract
In this paper we critically analyze the reasons to implement innovative mechanisms for international development funding, and the most relevant innovative instruments applied by the moment. We show how, in the international financing for development (IFfD) system, innovative financing is just another element of engagement. Thus, innovative financing should be analysed in connection with the system’s other basic elements, such as traditional financing instruments and the structure and functioning of the international economic and financial system through which these resources are distributed. Hence, a systemic approach to international financing for development (SAIFfD) is needed. The main conclusion is that, although current innovative instruments should be welcome, there is a need to accelerate the launch of new innovative mechanisms and to develop some important accompanying measures basically related to the reform of international financial architecture.
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