International Financial Architecture and Development Finance
Article, Blog Post, Official Document
The macroeconomic payoff from investment in universal economic and social human rights
Evidence is accumulating that the GDP and even tax revenue multipliers of increased public investment in the material sufficiency, agency and dignity of people underpinned by human rights are often strongly positive over 5 to 10 years. The budgeting and borrowing practices of governments and international financial institutions need to catch up and treat investment in social infrastructure, such as social protection systems, more like that in physical infrastructure, i.e., scored dynamically and partially amortized over a medium to long term budgetary window.
Blog Post
Might there be a method to the Trump trade policy madness?
A charitable interpretation of the Administration's shocking trade announcements has been making the rounds speculating that they are mere tactics in a larger strategy of global macroeconomic rebalancing and international trade and monetary system reform.
Presentation/Infographic
Towards a Bretton Woods-like reinvention of the international economic architecture for the 21st century
Int'l Labour Organization (ILO)
Presentation supporting remarks on reform of the international financial architecture at a conference in Hangzhou, China marking the 80th anniversary of the Bretton Woods conference that created the IMF and World Bank. Organized by Tsinghua University Peoples Bank of China School of Finance and the Reinventing Bretton Woods Committee, May 2024.
Chapter
Human-Centred International Economic Policy: Institutionalizing Inclusion, Sustainability and Resilience in International Economic Governance and Cooperation (Chapter 6)
Palgrave Macmillan, Intl Labour Organization (ILO)
This book chapter presents a Bretton-Woods-like set of deep reforms of the international economic architecture, adapting the IMF, multilateral development banks, and WTO and other trade-related institutions to the challenges of the 21st century based on a post-neoliberal "Roosevelt Consensus" model of growth and development.
Presentation/Infographic
Financialization–Real Economy Investment, Financial Regulatory Continuum
Intl Labour Organization (ILO), Palgrave Macmillan
Alternative conceptual framework for financial system regulation that emphasizes the policy choices and tradeoffs particularly relevant to ensuring that the primary focus of the financial sector remains to serve the real economy (i.e., the intermediation of savings to investment in productive capacity and decent work).
Video
Financing a Just Climate Transition
Panel discussion at the IMF/World Bank Annual Meetings hosted by Foreign Policy magazine in which I propose specific MDB and IMF reforms to greatly increase the availability of international financing to enable faster and more socially just climate action.
Paper
Financing Human-Centred COVID-19 Recovery and Decisive Climate Action Worldwide: International Cooperation’s 21st Century Moment of Truth
International Labour Organization (ILO)
This ILO Working Paper outlines how the existing capital and authorities of international financial institutions could be deployed to triple international development and climate finance for low-income and most middle-income countries for the next seven years, equivalent to twice the Marshall Plan's assistance to Europe following WWII.
Chapter
Blending Public and Private Funds for Sustainable Development (OECD Development Cooperation Report 2016, Chapter 3)
OECD
Authored chapter on the topic of blended finance based on prior related research and multistakeholder project with the OECD DAC.
Video
Infrastructure Financing in India
Panel discussion co-hosted by the Confederation of Indian Industries, November 2015.
Book
The International Monetary System, the IMF and the G20: A Great Transformation in the Making?
Palgrave Macmillan
Co-edited volume of papers written by many of the world's top international monetary system experts in conjunction with a series of roundtables that I co-organized with the Reinventing Bretton Woods Committee and co-convened with G20 Finance Deputies. Interesting real-time perspectives of the pre-financial crisis/Great Moderation period.