Financial Sustainable Development Research Articles

Russian

This article addresses the process of financing sustainable development on a global scale and summarizes problems arising within the process both at national and international levels. The necessity of global and holistic approach to the formation of the financing mechanism for achieving sustainable development is grounded. On the basis of retrospective analysis, this paper presents the evolution of transformations of financing sustainable development divided in three stages, namely sustainable development conceptualisation, sustainable development institutionalization and actualization of financing mechanism for sustainable development in global economy formation. The key characteristics of each stage are described.

Comparative Research of City's Financial Sustainable Development in Shaanxi Province Based on the Factor Analysis Method

In pushing of the projects of "the Guanzhong-Tianshui Economic Zone" and "Xian-Xianyang Integration",financial development in Shaanxi has also become one of the important topics of current research.On the basis of the theory of financial sustainable development,this paper builds evaluation index system of the financial sustainable development and using empirical analysis in this paper.At the same time,its doing comparative research of financial sustainable development level of the eight major cities in Shaanxi.This papers aim is to provide some recommendations about financial policies and development strategies for the relevant departments.

FINANCING FOR SUSTAINABLE DEVELOPMENT: SOLUTIONS OF WORLD SUMMIT ON SUSTAINABLE DEVELOPMENT

The World Summit on Sustainable Development (WSSD) held in Johannesburg, SouthAfrica 2002 has given significant priority to finance and trade issues since funding hasbeen identified as key constraints for the implementation of Agenda 21. The Summitadopted some ambitious programs specifically for poverty eradication such as halving theproportion of the world's people whose income is less than $1 a day, proportion of peoplewho suffer from hunger, proportion of people who are without access to safe drinkingwater and sanitation by 2015. Obvious.y, the implementation of all its decisions dependson the success of addressing development finance issues that covers a vast range, fromofficial development assistance to tommercialloans by multilateral financial institutionsand private banks, foreign direct investment, domestic credits, investment and governmenttransfers. The objective of this paper is to investigate whether the WSSD presents asolution to the financing for sustainable development taking Sri Lanka as a case study.The study observed that between 1992-2000 Official Development Assistant (ODA) hasfallen steadily from 0.33 % of donor country GNP to 0.22 % although at the Earth Summitdeveloped countries agreed to provide 0,7% of GNP as ODA This decline has affected theleast developed countries (LDCs), who arc highly dependant on ODA, which constitutes onthe average almost 90'% of their total long term capital inflows. However during thisperiod, Foreign Direct Investment (FDI) has significantly increased. FDI to developingcountries has increased from US$ 36 billion in 1991 to US$ 185 billion in 1999, butdeclined to US$ 175 billion in 2000. This is however is only a small portion of the globalFDI flows, which amounted to US$ 1.1 trillion in 2000. In 2000, 80% of FDI went to onlyten developing countries and LDCs attracted only 2.5 % of all FDI flows to developingcountries. In Sri Lanka, foreign direct investments have dropped from US$ 129 Mn ill1977 to US$ 82 Mn 2001. Total outstanding foreign debt has rose from Rs. 235,358 Mn in1992 to Rs. 634,622 Mn in 2001. This indicates serious debt crises in developing countries,which is not a favorable condition for attracting further FDI to developing countries.At the same time measures taken by the international community to treat the excessive debtburdens of 41 heavily indebted poor countries (HIPe) have not delivered the expectedresults. Thought the IMF and the World Bank have approved debt reduction programs for22 countries in December 2000, only' Uganda was able to clear the prerequisite thecreditors. This evidently suggests that the proposed financing measures at the WSSD willalso face implementation problems. Unless all debtors and creditors work positivelywithout demanding unreasonable prerequisite for debt relief measures, the objectives of theWSSD cannot be achieved.

China's approaches to financing sustainable development: policies, practices, and issues

To curb the country's energy use and decarbonize its energy supply, China invested heavily in energy efficiency and clean energy in the past 5 years. China's investment in clean energy surpassed the amount invested during any previous Five‐Year Plan period and made China the global leader in clean energy investment. The investment potential in clean energy is, however, far from being achieved in China. There are several barriers that are hindering China's ability to meet the demands for financing clean energy development. This paper reviews China's recent efforts in financing clean energy. It first reviews policies for facilitating green investments. It then describes the types and areas of green investments and activities carried out to date in China with regard to clean energy financing. A discussion follows examining key barriers to achieving investment potentials in China. The paper concludes with some recommendations for China to scale‐up investments in sustainable development.This article is categorized under: Energy Efficiency > Economics and Policy Energy and Climate > Economics and Policy Energy Policy and Planning > Economics and Policy

Study on the Comprehensive Evaluation of Financial Sustainable Development with Linguistic Information

Study on the Comprehensive Evaluation of Financial Sustainable Development with Linguistic Information

Sources of Global Private Capital Flows: What Developing Countries Can Do to Attract, Manage, and Retain Global Private Capital Flows to Finance Economic Growth and Sustainable Development

The author begins the paper with a brief historical perspective of global capital flows to developing economies. He then presents the theoretical underpinnings and methodology employed during the research. This is followed by the review of the literature. Next, the researcher outlines his findings. He also analyzes economic strategies to attract global private capital flows and policy implications for decision makers in developing economies. The author ends the paper with some policy recommendations and the way forward for economic growth and sustainable development.

Local causes, regional co-operation and global financing for environmental problems: the case of Southeast Asian Haze pollution

Lack of action on cross-border environmental problems in developing countries is often ascribed to gaps in local capacity and resources, failure of regional cooperation and lack of financial support from rich countries. Using the case of the Southeast Asian Haze pollution from forest and peat fires in Indonesia, we explore the challenges posed by environmental problems whose causes are closely linked to local development and livelihood strategies, and whose impacts are local, regional (haze) as well as global (carbon emissions). We assess whether there are real opportunities to implement effectively the recent Association of Southeast Asian Nations (ASEAN) Agreement on Transboundary Haze Pollution. To address the deep determinants behind haze pollution, we propose signatories to the Agreement refocus their efforts to controlling peat fires rather than to strive for a zero-burning regime. We also recommend a new approach to financing sustainable development based on rules and incentives, with a regional pool of funds, contributed by rich countries through the Global Environment Facility and countries in Southeast Asia.

Sustainable Development Finance for Cities and Regions

Sustainable Development Finance for Cities and Regions

Sustainable development as a framework for developing country participation in international climate change policies

The paper presents a number of ideas on how climate change policy implementation in developing countries can be supported by alternative international cooperation mechanisms that are based on stakeholder interests and policy priorities including broader economic and social development issues. It includes a brief review of current development policies, technological research and promotion efforts, and climate change that demonstrates that mutual policy initiatives undertaken by governments and the private sector actually have major positive impacts on climate change without being initiated by this global policy concern. Furthermore a number of examples are given on how future development objectives in Brazil, China, and India jointly can support economic and social goals and global climate change concerns if these goals are taken into consideration and supported by international cooperative mechanisms. The paper proposes international cooperative mechanisms that can support the implementation of integrated development and climate change policies. The mechanisms include an international sustainable development (SD) and Climate Finance Mechanism (SDCFM), technology development and transition programmes, technology standards, and other measures.

Financing Sustainable Development: Crises of Legitimacy

This year presents us with two important opportunities to influence the direction of sustainable development financing - the UN Summit on Financing for Development and the World Summit on Sustainable Development. We may ultimately remember both as missed opportunities. We need to take a fresh look at the entire system of financing for development and reorient it towards a sustainable development orientation. This requires focusing on questions of legitimacy, accountability and capacity. Such action would challenge the now entrenched orientation of the regime as a ‘financing’ regime. It will require a re-examination of the institutions that are entrusted with the agenda and will find nearly all lacking in necessary capacities. An expanded institutional framework that incorporates intermediary and local non-government organizations (NGOs) would be absolutely critical. Finally, institutions (at all levels) will need to be invested in with a different set of performance metrics; measures which gauge the ability of institutions to deliver on their developmental goals, rather than focus only on financial accounting.

Tradeable emission permits and the control of greenhouse gases

This article reiterates the case for tradeable permits as a global policy option for limiting greenhouse gas emissions, and considers the detailed design of a global tradeable‐permit regime, emphasising the importance of the initial assignment of property rights, and arguing that the relevant property rights in this case are the rights of every member of the world community to share in a sustainable global atmosphere and climate. The allocation of permits should therefore be done on a per capita basis across the world community, with the result that rents generated by the process of reducing carbon emissions would accrue to non‐polluters, most of whom live in the ‘South’. The international transfers of income and wealth implied by the proposed scheme are large but feasible. There is therefore a real prospect that an international convention on carbon dioxide emissions could end the debt crisis and finance sustainable development in the South..