Foreword
Mark Malloch Brown
Prologue
Joseph E. Stiglitz
Acknowledgments
Contributors OVERVIEW
WHY REVISIT PUBLIC FINANCE TODAY?
WHAT THIS BOOK IS ABOUT
Inge Kaul and Pedro Conceição
THE CHANGES UNDERWAY
FINANCING GLOBAL CHALLENGES THROUGH INTERNATIONAL COOPERATION
BEHIND AND BEYOND BORDERS
Inge Kaul and Pedro Conceição
1. THE NEW NATIONAL PUBLIC FINANCE
TAKING THE OUTSIDE WORLD INTO ACCOUNT
BLENDING EXTERNAL AND DOMESTIC POLICY DEMANDS
THE RISE OF THE INTERMEDIARY STATE
Inge Kaul
MAKING POLICY UNDER EFFICIENCY PRESSURES
GLOBALIZATION, PUBLIC SPENDING, AND SOCIALWELFARE
Vito Tanzi
INTERNALIZING CROSS-BORDER SPILLOVERS
POLICY OPTIONS FOR ADDRESSING LONG-TERM FISCAL CHALLENGES
Peter S. Heller
MANAGING RISKS TO NATIONAL ECONOMIES
THE ROLE OF MACRO MARKETS
Robert J. Shiller
COMBINING FISCAL SOVEREIGNTY AND COORDINATION
NATIONAL TAXATION IN A GLOBALIZINGWORLD
Peggy B. Musgrave
RECOGNIZING THE LIMITS TO COOPERATION BEHIND
NATIONAL BORDERS
FINANCING THE CONTROL OF TRANSNATIONAL TERRORISM
Todd Sandler
2. THE NEW INTERNATIONAL PUBLIC FINANCE
RELYING ON PUBLIC-PRIVATE COOPERATION AND COMPETITION
EXPLORING THE POLICY SPACE BETWEEN MARKETS AND STATES
GLOBAL PUBLIC-PRIVATE PARTNERSHIPS
Inge Kaul
ACCOMMODATING NEW ACTORS AND NEW PURPOSES
IN INTERNATIONAL COOPERATION
THE GROWING DIVERSIFICATION OF FINANCING MECHANISMS
Pedro Conceição
MAKING THE RIGHT MONEY AVAILABLE AT THE RIGHT TIME
FOR INTERNATIONAL COOPERATION
NEW FINANCING TECHNOLOGIES
Pedro Conceição, Hari Rajan, and Rajiv Shah
TAKING SELF-INTEREST INTO ACCOUNT
A PUBLIC CHOICE ANALYSIS OF INTERNATIONAL COOPERATION
Philip Jones
3. THE NEW INTERNATIONAL PUBLIC FINANCE
INVESTING IN GLOBAL PUBLIC GOODS PROVISION ABROAD
IDENTIFYING HIGH-RETURN INVESTMENTS
A METHODOLOGY FOR ASSESSINGWHEN INTERNATIONAL COOPERATION PAYS--AND FOR WHOM
Pedro Conceição and Ronald U. Mendoza
MAKING INTERNATIONAL COOPERATION PAY
FINANCING AS A STRATEGIC INCENTIVE
Scott Barrett
COMPENSATING COUNTRIES FOR THE PROVISION
OF GLOBAL PUBLIC SERVICES
THE TOOL OF INCREMENTAL COSTS
Kenneth King
CREATING NEW MARKETS
THE CHICAGO CLIMATE EXCHANGE
Richard L. Sandor
USING MARKETS MORE EFFECTIVELY
DEVELOPING COUNTRY ACCESS TO COMMODITY FUTURES MARKETS
C. Wyn Morgan
ASSESSING CONTRACTUAL AND STATUTORY APPROACHES
POLICY PROPOSALS FOR RESTRUCTURING UNSUSTAINABLE SOVEREIGN DEBT
Barry Eichengreen
PLACING THE EMPHASIS ON REGULATION
LESSONS FROM PUBLIC FINANCE IN THE EUROPEAN UNION
Brigid Laffan
4. THE NEW INTERNATIONAL PUBLIC FINANCE
ENHANCING AID EFFICIENCY
USING AID INSTRUMENTS MORE COHERENTLY
GRANTS AND LOANS
Paul Collier
RECTIFYING CAPITAL MARKET IMPERFECTIONS
THE CONTINUING RATIONALES FOR MULTILATERAL LENDING
Yilmaz Akyüz
PULLING NOT PUSHING REFORMS
DELIVERING AID THROUGH CHALLENGE GRANTS
Steve Radelet
OVERCOMING COORDINATION AND ATTRIBUTION PROBLEMS
MEETING THE CHALLENGE OF UNDERFUNDED REGIONALISM
Nancy Birdsall
REDUCING THE COSTS OF HOLDING RESERVES
A NEW PERSPECTIVE ON SPECIAL DRAWING RIGHTS
Jacques J. Polak and Peter B. Clark
CREATING INCENTIVES FOR PRIVATE SECTOR INVOLVEMENT
IN POVERTY REDUCTION
PURCHASE COMMITMENTS FOR AGRICULTURAL INNOVATION
Michael Kremer and Alix Peterson Zwane
MITIGATING THE RISKS OF INVESTING IN DEVELOPING COUNTRIES
CURRENCY-RELATED GUARANTEE INSTRUMENTS FOR INFRASTRUCTURE PROJECTS
Stephany Griffith-Jones and Ana Teresa Fuzzo de Lima
ANNEXES
FURTHER READING
GLOSSARY
ABOUT THE CONTRIBUTORS
INDEX
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