Global Challenges In Public Finance And International Relations

Although the concept of international public goods has been established, new international public needs arise by the day. For example, while there are many taxation problems and debates that have not yet been resolved internationally, many new tax-related problems like international transfer pricing, taxation of virtual profits, and taxation of electronic commerce are being added. These issues require studies that will discuss a new agenda and propose solutions for these dilemmas and problems. Global Challenges in Public Finance and International Relations provides an innovative and systematic examination of the present international financial events and institutions, international financial relations, and fiscal difficulties and dilemmas in order to discuss solutions for potential problems in the postmodern world. Highlighting topics such as international aid, public debt, and corporate governance, this publication is designed for executives, academicians, researchers, and students of public finance.

The world's agenda of international cooperation has changed. The conventional concerns of foreign affairs, international trade, and development assistance, are increasingly sharing the political center stage with a new set of issues. These include trans-border concerns such as global financial stability and market efficiency, risk of global climate change, bio-diversity conservation, control of resurgent and new communicable diseases, food safety, cyber crime and e-commerce, control of drug trafficking, and international terrorism and weapons of mass destruction. Globalization and increasing porosity of national borders have been key driving forces that have led to growing interdependence and interlocking of the public domains--and therefore, public policy concerns--of countries, governments, private businesses, civil society, and people at large. Thus, new and different issues are now occupying top places on national policy agendas, and consequently, on the agendas of international negotiating forums. The policy approaches to global challenges are also changing. A proliferation and diversification of international cooperation efforts include focus on financing arrangements. Financing of international cooperation in most instances is a haphazard and non-transparent process and often seems to run parallel to international negotiations. There are many unfunded mandates and many-non-mandatory funds. To agree on and to achieve international economic goals, we need to understand how financing of international cooperation efforts actually works. Our understanding is hampered by two gaps: 1) lack of an integrated and cohesive theoretical framework; 2) lack of consolidated empirical and operational knowledge in the form of a comprehensive inventory of past, current and possible future (i.e. currently deliberated) financing mechanisms. This book reduces these two gaps and provides a guide to improve our ability to finance international cooperation.

This book reveals how to create efficient institutions and coordinate policy on a transnational scale to ensure that European Union integration can best meet social needs. It offers a combined technocratic and humanist perspective on the discussion of public financial management. The state, as part of its public policy, should seek to preserve our social and environmental values, yet there are mounting imbalances in society which point to the growing role of the state in minimising them. Under such circumstances, it is worth reflecting on how new challenges could require updated, more complex formulas, to deal with crises in current times and for social and economic policy making by states and the European Union generally, which would ensure their compatibility with the world financial markets. The work offers an in-depth and unique performance analysis of European Union institutions compared to the national entities of EU Member States. It contributes to the ongoing debate on global public goods and the processes involved in managing their provision. Further, it discusses public finance management instruments, indicating their historical evolution in practice and their effectiveness measured with the Human Development Index. The author presents a proposal of how to manage global, European and national public goods across three areas: environmental protection, transnational infrastructure projects and social policy. The book analyses public financial management instruments used during the recent pandemic, making a distinction between regular and emergency instruments and assessing their effectiveness in specific economic situations. This will be of interest to researchers and students of economics and finance, as well as decision makers and practitioners from governments, international organisations and specific non-governmental organisations concerned with issues of public finance management.

Securing Development: Public Finance and the Security Sector highlights the role of public finance in the delivery of security and criminal justice services. This book offers a framework for analyzing public financial management, financial transparency, and oversight, as well as expenditure policy issues that determine how to most appropriately manage security and justice services. The interplay among security, justice, and public finance is still a relatively unexplored area of development. Such a perspective can help security actors provide more professional, effective, and efficient security and justice services for citizens, while also strengthening systems for accountability. The book is the result of a project undertaken jointly by staff from the World Bank and the United Nations, integrating the disciplines where each institution holds a comparative advantage and a core mandate. The primary audience includes government officials bearing both security and financial responsibilities, staff of international organizations working on public expenditure management and security sector issues, academics, and development practitioners working in an advisory capacity.

The present volume uses a comparative regional approach to analyze how permacrisis—an extended period of instability and insecurity—has been experienced and dealt with in the European Union (EU) and Latin America. Written by academicians and policy experts from both regions, the volume has three main objectives. Firstly, it critically evaluates the response of regional organizations and governments in the EU and Latin America to the crises that have shaken these regions in recent years. Secondly, chapters contribute to a better understanding of the promised benefits and risks of digital currencies and fintech more generally to economic growth, financial stability and inclusion. Finally, the volume promotes an understanding of the challenges of permacrisis in both the EU and Latin America, as well as encouraging their cooperation at the multilateral and bi-regional levels. Providing an interdisciplinary perspective, this volume will be of interest to researchers and students of international relations, international political economy, international finance and economics, international law, global governance, and regionalism, as well as public officials of ministries of foreign affairs, finance and the economy, public officials of international and regional organizations. This is an open access book.

The first two decades of the twenty-first century have witnessed an influx of innovations and reforms in public financial management. The current wave of reforms is markedly different from those in the past, owing to the sheer number of innovations, their widespread adoption, and the sense that they add up to a fundamental change in the way governments manage public money. This book takes stock of the most important innovations that have emerged over the past two decades, including fiscal responsibility legislation, fiscal rules, medium-term budget frameworks, fiscal councils, fiscal risk management techniques, performance budgeting, and accrual reporting and accounting. Not merely a handbook or manual describing practices in the field, the volume instead poses critical questions about innovations; the issues and challenges that have appeared along the way, including those associated with the global economic crisis; and how the ground can be prepared for the next generation of public financial management reforms. Watch Video of Book Launch

Security concerns, the AIDS epidemic, environmental degradation, and financial contagion are salient features of today's landscape of threats to global stability. A characteristic of these challenges is that they cannot be solved by individual nations acting alone. Enlightened cooperation is needed. This book focuses on actions in the international arena to complement domestic efforts in addressing a set of policy challenges that has become more prominent in the age of globalization. It focuses on the strategic and practical challenges of fostering solutions that have the character of international public goods, paying particular attention to the financing of these goods.

Elaborating on the concepts first introduced in Global Public Goods, this book addresses the long overdue issue of how to adjust the concept of public goods to today's economic and political realities. The production of global public goods requires the orchestration of initiatives by a large number of diverse actors across different levels and sectors. It may require the collaboration of governments, business and civil society, and in most cases it almost certainly calls for an effective linkage of the local, national, regional, and global levels. In light of today's new realities, this book examines a series of managerial and political challenges that pertain to the design and implementation of production strategies and the monitoring and evaluation of global public goods provision.As participatory decision-making enhances the political support for - and thus the effectiveness of - certain policy decisions, this volume offers suggestions on a number of pragmatic policy reforms for bringing the global public more into public policy making on global issues. Nine case studies examine the importance of the global public good concept from the viewpoint of developing countries, exploring how and where the concerns of the poor and the rich overlap.Providing Global Public Goods offers important and timely suggestions on how to move in a more feasible and systematic way towards a fairer process of globalization that works in the interests of all.

This interdisciplinary book investigates the problematization of global challenges in world politics by analyzing what they are and how they come to be. Offering a conceptual framework, including four modes of construction—universalizing, bundling, upscaling, and creating urgency—this book provides a heuristic method for understanding how the process of rendering an issue a “global challenge” unfolds. It examines the role of the global challenges discourse, which may either reinforce or challenge the dominant orders of world politics, such as the capitalist market-based system and the liberal international order. As a consequence, the global challenges discourse facilitates the emergence of new actors and policy fields. The book will be of interest to students, academics, and practitioners of global governance, international organizations, and, more broadly, international political economy and international relations.