Innovative Financing for Development: a deus ex machina for funding post-2015 development agenda?

[EN] In this paper we critically analyze the reasons to implement innovative mechanisms for international development finance, and the most relevant innovative instruments applied by the moment. We also show how, in the international financing for development (IFfD) system, innovative financing is j...

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Autores: García Arias, Jorge Ramón, Macías Vázquez, Alfredo, Fernández Huerga, Eduardo Claudio
Tipo de recurso: artículo
Estado:Versión publicada
Fecha de publicación:2014
País:España
Institución:Universidad de León
Repositorio:BULERIA. Repositorio Institucional de la Universidad de León
OAI Identifier:oai:buleria.unileon.es:10612/21071
Acceso en línea:https://www.uhu.es/publicaciones/ojs/index.php/REM/article/view/3955
https://hdl.handle.net/10612/21071
Access Level:acceso abierto
Palabra clave:Economía
Systemic Approach to International Financing for Development
International Financialisation
Global Public Goods
Post-2015 Development Agenda
Official Development Aid
External Debt
Private Capital Flows
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spelling Innovative Financing for Development: a deus ex machina for funding post-2015 development agenda?Financiación Innovadora para el Desarrollo: ¿un Deus ex Machina para financiar la agenda de desarrollo post-2015?García Arias, Jorge RamónMacías Vázquez, AlfredoFernández Huerga, Eduardo ClaudioEconomíaSystemic Approach to International Financing for DevelopmentInternational FinancialisationGlobal Public GoodsPost-2015 Development AgendaOfficial Development AidExternal DebtPrivate Capital Flows[EN] In this paper we critically analyze the reasons to implement innovative mechanisms for international development finance, and the most relevant innovative instruments applied by the moment. We also show how, in the international financing for development (IFfD) system, innovative financing is just another link in the chain and not a magic solution for solving all IFfD problems. 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 flow. 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 both the reform of traditional instruments of IFfD and the international financial architecture.[ES] En este artículo se analizan críticamente tanto las razones que han provocado la necesidad de implementar mecanismos innovadores de financiación para el desarrollo, como los principales instrumentos innovadores aplicados hasta el momento. En este sentido, se muestra cómo la financiación innovadora es una pieza más en el engranaje del sistema de financiación internacional para el desarrollo, y no la solución mágica para todos sus problemas, por lo que debe ser analizada en conjunción con los otros elementos básicos del mismo, tales como los instrumentos tradicionales de financiación, y la estructura y el funcionamiento del sistema económico y financiero internacional (por medio del cual estos recursos son canalizados); esto es, es preciso adoptar un Enfoque Sistémico de la Financiación Internacional para el Desarrollo (ESFIpD). La conclusión fundamental del trabajo es que, si bien los mecanismos innovadores implementados hasta el momento deben ser bienvenidos, es necesario acelerar el lanzamiento de nuevos instrumentos innovadores, así como aplicar importantes medidas de acompañamiento, fundamentalmente relacionadas con los instrumentos tradicionales de financiación para el desarrollo y con la reforma de la arquitectura financiera internacional.SIUniversidad de HuelvaEconomia AplicadaFacultad de Ciencias Economicas y Empresariales2014info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttps://www.uhu.es/publicaciones/ojs/index.php/REM/article/view/3955https://hdl.handle.net/10612/21071reponame:BULERIA. Repositorio Institucional de la Universidad de Leóninstname:Universidad de LeónIngléshttp://creativecommons.org/licenses/by-nc-sa/4.0/info:eu-repo/semantics/openAccessoai:buleria.unileon.es:10612/210712026-06-24T12:43:27Z
dc.title.none.fl_str_mv Innovative Financing for Development: a deus ex machina for funding post-2015 development agenda?
Financiación Innovadora para el Desarrollo: ¿un Deus ex Machina para financiar la agenda de desarrollo post-2015?
title Innovative Financing for Development: a deus ex machina for funding post-2015 development agenda?
spellingShingle Innovative Financing for Development: a deus ex machina for funding post-2015 development agenda?
García Arias, Jorge Ramón
Economía
Systemic Approach to International Financing for Development
International Financialisation
Global Public Goods
Post-2015 Development Agenda
Official Development Aid
External Debt
Private Capital Flows
title_short Innovative Financing for Development: a deus ex machina for funding post-2015 development agenda?
title_full Innovative Financing for Development: a deus ex machina for funding post-2015 development agenda?
title_fullStr Innovative Financing for Development: a deus ex machina for funding post-2015 development agenda?
title_full_unstemmed Innovative Financing for Development: a deus ex machina for funding post-2015 development agenda?
title_sort Innovative Financing for Development: a deus ex machina for funding post-2015 development agenda?
dc.creator.none.fl_str_mv García Arias, Jorge Ramón
Macías Vázquez, Alfredo
Fernández Huerga, Eduardo Claudio
author García Arias, Jorge Ramón
author_facet García Arias, Jorge Ramón
Macías Vázquez, Alfredo
Fernández Huerga, Eduardo Claudio
author_role author
author2 Macías Vázquez, Alfredo
Fernández Huerga, Eduardo Claudio
author2_role author
author
dc.contributor.none.fl_str_mv Economia Aplicada
Facultad de Ciencias Economicas y Empresariales
dc.subject.none.fl_str_mv Economía
Systemic Approach to International Financing for Development
International Financialisation
Global Public Goods
Post-2015 Development Agenda
Official Development Aid
External Debt
Private Capital Flows
topic Economía
Systemic Approach to International Financing for Development
International Financialisation
Global Public Goods
Post-2015 Development Agenda
Official Development Aid
External Debt
Private Capital Flows
description [EN] In this paper we critically analyze the reasons to implement innovative mechanisms for international development finance, and the most relevant innovative instruments applied by the moment. We also show how, in the international financing for development (IFfD) system, innovative financing is just another link in the chain and not a magic solution for solving all IFfD problems. 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 flow. 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 both the reform of traditional instruments of IFfD and the international financial architecture.
publishDate 2014
dc.date.none.fl_str_mv 2014
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv https://www.uhu.es/publicaciones/ojs/index.php/REM/article/view/3955
https://hdl.handle.net/10612/21071
url https://www.uhu.es/publicaciones/ojs/index.php/REM/article/view/3955
https://hdl.handle.net/10612/21071
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.rights.none.fl_str_mv http://creativecommons.org/licenses/by-nc-sa/4.0/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv http://creativecommons.org/licenses/by-nc-sa/4.0/
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv Universidad de Huelva
publisher.none.fl_str_mv Universidad de Huelva
dc.source.none.fl_str_mv reponame:BULERIA. Repositorio Institucional de la Universidad de León
instname:Universidad de León
instname_str Universidad de León
reponame_str BULERIA. Repositorio Institucional de la Universidad de León
collection BULERIA. Repositorio Institucional de la Universidad de León
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,301629

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