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Scaling the Summit of Democracies

One of President Biden’s foreign policy campaign commitments was to hold a “Summit of Democracies” in the first year of his presidency. While skeptics have raised valid concerns—not least which countries should appear on the guestlist— a summit could spur useful reforms at home and abroad.

It’s Time for a Code of Conduct on Transparency for Financiers Backing PPPs

Public-Private Partnership models continue to proliferate, backed by multilateral development banks old and new. But the volume of PPPs in developing countries has stagnated since the global financial crisis, and they won’t deliver unless they are designed and implemented well. Making more and better public-private investments will take a far greater commitment to transparency from participants in the deals. Financiers—MDBs in particular—should take the lead.

Aid Transparency and Private Sector Subsidies at the IFC

Vijaya Ramachandran, Ben Leo, Jared Karlow and I have just published two papers looking at where and in what capacity the IFC, OPIC, and selected European development finance institutions (DFIs) are investing their money. The core of the papers is a dataset that Jared painstakingly put together by scraping public documentation about DFI projects. It wasn’t easy because DFIs are considerably behind many aid agencies in releasing usable data on their portfolios. And that lack of transparency presents a significant problem if those same DFIs spend aid money on subsidizing the private sector.

US Backs Away from Its Commitment to Extractive Industry Transparency

The US Department of the Interior announced last week that the United States would no longer seek to comply with the Extractive Industries Transparency Initiative (EITI), an international multi-stakeholder organization that aims to increase revenue transparency and accountability in natural resource extraction. The move—while disappointing—is not altogether unexpected. And sadly, it will put the United States further behind the curve when it comes to corporate transparency.

Do Weak Governments Doom Developing Countries to Poverty?

When you read what economists have to say about development, it is easy to be disheartened about the prospects for poor countries. One big reason is that slow changing institutional factors are seen as key to development prospects. I’ve just published a CGD book that’s a little more optimistic: Results Not Receipts: Counting the Right Things in Aid and Corruption.

A No More Tiers Formula to Clean Up Corruption

A bipartisan group of eight Senators led by Senate Foreign Relations Ranking Member Ben Cardin (D-MD) has just reintroduced a new version of a bill designed to identify and combat corruption overseas. The Combating Global Corruption Act of 2017 ties some potentially useful anti-corruption measures to a less-than-useful exercise in corruption ranking that will blunt their impact. That’s a shame, but it also suggests an easy fix: junk the ranking.

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