Trade, Investment and Development: Policy Coherence Matters, Volume 763The development process can advance more rapidly than ever before in the new global economy. While opening their economies to trade and investment is a necessary condition for developing countries to achieve sustained high growth and reduce poverty, it is by no means a sufficient condition. Initiating a sustainable dynamic growth requires sound, market-oriented economic policies; appropriate social policy frameworks, including strong investment in human capital and adequate social safety-nets; and good governance. But, as shown by the Asian financial crisis, weaknesses in any of these basic foundations make even successful developing economies vulnerable to crisis. OECD countries have a pivotal role to play in facilitating developing countries' efforts to fully exploit the benefits of open trade and investment. The key objective of this report is to identify how OECD countries can promote policy coherence by improving the framework for international investment and capital flows; addressing environmental concerns; facilitating participation of developing countries in the global information society; and enhancing the coherence of development co-operation policies. To be successful, policy coherence implies the broader agenda of consciously taking account of the needs and interests of developing countries in order for them to be effective rather than vulnerable and marginal players in the global economy. |
Contents
EXECUTIVE SUMMARY | 9 |
INTRODUCTION | 15 |
THE DEVELOPMENTAL COHERENCE OF OECD | 31 |
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21st Century achieve African countries agenda areas Asian Background Briefing Note benefits of open capacity capital flows cent challenges Chinese Taipei competitive context corporate governance Côte d'Ivoire developed and developing Development Assistance Committee Development Centre Studies development co-operation development partnership strategy development process development strategies developmental coherence East Asia economic development economic growth effective emerging economies environment exports financial crises financial systems Foreign Direct Investment Ghana global economy Globalisation human capital import liberalisation improving income infrastructure integration International Development International Monetary Fund investment and development investment policies Korea labour Latin America levels macroeconomic Malaysia multilateral NBER Working Paper OECD countries OECD Development Centre OECD Member countries OECD Ministers OECD's open economies open trade organisations participation Policy Reform political poverty reduction production recent financial resource role Strengthening the framework structural sustainable development tariff trade and investment trade policy World Bank world economy World Trade World Trade Organisation