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11. A Demand-Driven Approach to Development

Author:
Romina Bandura and MacKenzie Hammond
Publication Date:
05-2019
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies (CSIS)
Abstract:
In many countries, financing development challenges such as humanitarian disasters, communicable diseases, and basic social services have, until recently, relied heavily on foreign aid or official development assistance (ODA). The landscape has been slowly shifting towards a development approach that is more “demand-driven”: steered and owned by developing countries in partnership with donors. In many developing countries, especially low-income countries, foreign aid still plays a significant role in financing government priorities and will continue to play a crucial role in the years to come. Yet foreign assistance is not adapting to the changing landscape of developing countries, and there is some concern whether donors like the United States can deliver the level of flexibility and variety that countries are demanding. In order to ensure that low-income countries—particularly fragile and conflict-affected states—make progress, the United States and other donors will need to embrace new approaches and instruments to tackle persisting challenges. The report discusses the concept and importance of a demand-driven approach to development. It describes its progress and identifies the main challenges of operationalizing the concept. The paper covers the demand-driven approach from the perspective of the United States, presenting a set of recommendations to create a more effective framework for development partners. The aim of the paper is to spur dialogue across development actors (civil society, NGOs, the private sector, and developed and developing country governments) about the programmatic and policy changes that need to take place to fully adopt the principles of demand-driven development and ultimately drive greater success in development activities.
Topic:
Development, Foreign Aid, and Development Assistance
Political Geography:
Global Focus

12. The Greek “Rescue”: Where Did the Money Go?

Author:
Pablo Gabriel Bortz
Publication Date:
11-2015
Content Type:
Working Paper
Institution:
Institute for New Economic Thinking (INET)
Abstract:
This paper analyses the financial assistance provided to Greece in the first two rescue packages granted by the Troika (European Union, European Central Bank and IMF). It looks particularly carefully at claims by Sinn that a third of the public credit granted to Greece financed its current account deficit, while another third funded capital flight by Greek nationals, with only the remaining third used to pay creditors. The paper shows that Sinn inflates the assistance given to Greece by mixing several different concepts in the total. It also critically reviews the claim that the assistance was used to finance the current account deficit or capital flight by Greek citizens. Realistic accounting shows that 54% of the financial assistance provided to Greece was used to repay (foreign) debt, while another 21% was used to recapitalize Greek banks (some of which were owned by foreign institutions). Other claims about the rescue package are also analysed in relation to the treatment of Greek and foreign banking exposure to sovereign debt.
Topic:
Economics, Finance, Banking, and Development Assistance
Political Geography:
Europe and Greece