In Retooling Global Development and Governance a team of UN experts debate new ideas about how to overcome deficiencies in the ongoing process of globalization and in the existing mechanisms for global economic governance. They do not claim to offer a blueprint, rather a set of ideas that could become the basis for a coherent "toolbox" designed to guide development policies and international cooperation.
Promising directions for reform discussed in the book include:
- Strengthening government capacities for formulating and implementing national development strategies
- New strategies for ensuring that official development assistance is aligned with national priorities
- Enhancing international trade and financial systems so that countries with limited capabilities can successfully integrate into the global economy
- Creating new mechanisms for dealing with deficiencies, such as specialized multilateral frameworks through which to govern international migration and labour mobility, international financial regulation, multinational corporations and global value chains regulation and sovereign debt workouts.
Above all, the book highlights the need for a strong mechanism for global economic coordination to establish coherence across all areas of global economic governance.
Rob Vos is Professor of Finance and Development at the International Institute of Social Studies, Erasmus University, The Netherlands. At the time of editing this book, he was Director of the Development Policy and Analysis Division (DPAD) of the United Nations. He is presently Coordinator of the Strategic Programme on Rural Poverty Reduction and Director of the Gender, Equity and Rural Employment Division at the Food and Agriculture Organization (FAO) of the United Nations. Manuel F. Montes is Chief of Branch of the Development Policy and Analysis Division (DPAD), Department of Economic and Social Affairs of the United Nations (UN/DESA).
Introduction: Retooling Global Development; Rob Vos and Manuel Montes Retooling Poverty reduction Strategies: Towards a new Consensus?; S. Nazrul Islam Towards a new Aid Architecture; Alex Julca, Manuel Montes and Rob Vos Retooling Global Trade; Mariangela Lacourt-Parra, Manuel Montes and Rob Vos Reforming the International Financial Architecture; Shari Spiegel and Manuel Montes A feasible Globalization; Manuel Montes and Rob Vos