With rigorous economic research and practical policy solutions, we focus on the issues and institutions that are critical to global development. Explore our core themes and topics to learn more about our work.
In timely and incisive analysis, our experts parse the latest development news and devise practical solutions to new and emerging challenges. Our events convene the top thinkers and doers in global development.
Reality is not yet matching rhetoric in moving from “billions to trillions” to finance the SDGs—how can we accelerate sustainable development finance?
To meet the Sustainable Development Goals (SDGs), the world must ramp up development financing from billions to trillions of dollars. The COVID-19 pandemic has increased the financing needs and made them more complex. We must think beyond aid, to private finance, and unlocking developing countries’ own resources. The roles of financiers and developing country partners in mobilizing and allocating aid needs to change so that the international community can focus not only on country-by-country development, but also on pressing shared problems, such as climate change, global health and international migration. Financing must encourage a resilient and sustainable future.
At the same time that the world is looking to scale up development financing, the development financing system is becoming more complex. There are new donors, like China and India, with different development paradigms. And the emergence of new multilateral development agencies and national development banks add resources to the mix but raise the question of whether new models of international cooperation are needed to maximize the leverage of scarce financing.
Our research focuses on five questions: How can the international financial system produce sufficient funding for recovery and sustainable development? How should it be allocated to help countries rebuild their economies, meet the SDGs and confront global challenges? How can financing most effectively mobilize private capital, safeguard public monies, and keep debt levels sustainable? How can domestic resources be mobilized within developing countries? And how should existing institutions be changed to best cooperate?
Last week the World Bank's Chief Economist, Paul Romer, told the Wall Street Journal the Bank had manipulated its own competitiveness rankings to undermine Chile's socialist government, and hinted Chile might not be alone—then he retracted the claim. Romer's conspiracy theories probably aren't credible, but neither are the Doing Business numbers.
An international mechanism to reduce emissions from deforestation using carbon payments (REDD+) can be leveraged to make payments for forests’ biodiversity as well. Paradoxically, under conditions consistent with emerging REDD+ programs, money spent on a mixture of carbon payments and biodiversity payments has the potential to incentivize the provision of greater climate benefits than an equal amount of money spent only on carbon payments.
The 2015 Paris agreement incorporates a framework of reducing emissions from deforestation and forest degradation (Redd+). Here are three reasons why Redd+ is a valuable tool in the fight against climate change, and responses to three common criticisms of the framework that no longer hold up.
Senior fellow David Wheeler quantifies and makes available in an accompanying database the vulnerability of 233 countries to three major effects of climate change (weather-related disasters, sea-level rise, and reduced agricultural productivity) and develops a methodology for donors and other to craft cost-effective assistance for climate adaptation.
What's going to happen in the world of development in 2018? Will we finally understand how to deal equitably with refugees and migrants? Or how technological progress can work for developing countries? Or what the impact of year two of the Trump Administration will be? Today’s podcast, our final episode of 2017, raises these questions and many more as a multitude of CGD scholars share their insights and hopes for the year ahead.