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The transition of the global financial governance system is a history of the rise and fall of the Western advanced countries in the post-war international political and economic system. Since the end of the Second World War, the International Monetary Foundation and the World Bank have always taken the dominant role in the field of global financial governance. However, after the beginning of the global financial crisis in 2008, many drawbacks have become apparent concerning these two significant institutions, such as the lack of representatives, the slow and ineffective response to the crisis, etc. Following a strong appeal from the developing countries (with the emerging powers as their representatives), the global financial governance system has experienced several rounds of reforms which have yet to yield acceptable results. Therefore, it is highly necessary to create a new institution which can play a complementary role in the existing financial governance system rather than overthrow it. Complying with the tide of history, the official establishment of the BRICS Bank can be of great significance to the reform of current global financial governance systems such as diversifying the global financial governance bodies, representing the interests of developing countries in a better way, enhancing the status and improving the importance of emerging economies in the international political and economic order. Admittedly, the BRICS Bank also faces great challenges and limits such as the lack of a core leadership and the absence of a unified currency, etc.

China is now the lender of first resort for much of the developing world, but Beijing has fueled speculation among policymakers, scholars, and journalists by shrouding its grant-giving and lending activities in secrecy. Introducing a systematic and transparent method of tracking Chinese development projects around the world, this book explains Beijing's motives and analyzes the intended and unintended effects of its overseas investments. Whereas China almost exclusively provided aid during the twentieth century, its twenty-first century transition from 'benefactor' to 'banker' has had far-reaching impacts in low-income and middle-income countries that are not widely understood. Its use of debt rather than aid to bankroll big-ticket infrastructure projects creates new opportunities for developing countries to achieve rapid socio-economic gains, but it has also introduced major risks, such as corruption, political capture, and conflict. This book will be of interest to policymakers, students and scholars of international political economy, Chinese politics and foreign policy, economic development, and international relations.

Bærekraftsmålene har blåst nytt liv i debatten om hvorvidt globale fellesgoder kan og bør finansieres med bistand. I denne replikken til Nikolai Hegertuns essay En stille revolusjon av utviklingspolitikken, argumenterer jeg for at det er liten grunn til å være strengt normativ i dette spørsmålet, blant annet fordi den statistiske definisjonen av bistand ikke utelukker dette; det er presedens for en viss bruk av bistand for slike formål; bistandsvolum uansett ikke er et fullstendig mål på givernes innsats og sier lite om kvaliteten på den; og fordi en rekke nasjonale og regionale fellesgoder – som uten tvil kan finansieres med bistand – er nødvendige for at globale fellesgoder skal kunne produseres eller konsumeres av innbyggere i fattige land. Vi vet heller ikke med sikkerhet at tradisjonell bistand gir større velferdsøkninger i fattige land enn finansiering av globale fellesgoder. Det er mulig å se for seg både at de globale utfordringene sluker bistanden og at de gir støtet til internasjonalt samarbeid i et omfang vi ikke har sett før. Gitt de underliggende drivkreftene – en kombinasjon av altruisme og egeninteresser – er det mer sannsynlig med gradvise endringer i utviklingspolitikken enn en revolusjon.
Abstract in English:Development Policy: Revolution is an Illusion?The Sustainable Development Goals have reinvigorated the debate on whether aid can and should be used to finance global collective goods. In this comment on Nikolai Hegertun's essay Aid's Silent Revolution? (En stille revolusjon av utviklingspolitikken), I argue that the statistical definition of aid does not categorically rule out such financing, for which there are precedents; that aid volumes in any case do not tell the full story about the extent and quality of donor efforts; and that many national and regional collective goods – which certainly can be financed by aid – are necessary for the production and enjoyment of global collective goods by individuals living in developing countries. Moreover, we do not know with certainty that traditional aid produces greater welfare improvements in such countries than global collective goods do. It is possible to envisage both that current global challenges will swamp aid and that they will induce international cooperation on an unprecedented scale. However, given the underlying forces of altruism and national self-interest, a gradual change in development policy is more likely than a revolution.

作為一種新型扶貧手段,小額信貸產業在過去三十年中於發展中國家迅速興起。從業者常常聲稱小額信貸機構能夠為貧窮農民提供金融機會,而這些弱勢群體過去往往被排除在傳統金融機構之外;與此同時,不同於以往的扶貧手段,小額信貸機構被認為能夠在財務上達到平衡乃至盈利。這種雙重目標的前景吸引了許多發展中國家的興趣,因此,小額信貸產業作為解決貧困問題的一種嘗試而在國際舞台上獲得了迅猛的發展。 ; 由於中國獨特的社會和政治環境,小額信貸機構的發展有其特殊的軌跡。本研究以深入訪談和參與式觀察為主要研究方法,通過為期三個月的田野調查,對中國西部與北部的兩個非政府小額信貸組織進行了深入考察。研究發現,小額信貸組織正面臨無法同時達成雙重目標的困境;基於觀察與資料分析,本文提出,中國農村社區信任結構的轉型是小額信貸組織面臨多重問題的主要原因。隨著市場經濟的發展與城市化的加速,在日漸瓦解的熟人社會中,小額信貸機構的社會目標被其財務目標所壓制,導致原有的扶貧、婦女賦權等目標難以達成,更形成了目標替代的組織現象。 ; 為深入探討小額信貸產業中目標替代的現象,本文從組織目標的合法性與可測量性兩個角度提出假設,指出當邊緣目標具有強烈的合法性和直觀的可測量性,便可能取代相對難以觀測的核心目標。最後,本文指出,為保證小額信貸組織不偏離原有的社會目標,需要設計一種新型的、獨立的測量工具,用以跟踪記錄小額信貸組織的社會影響,並將其作為判斷組織表現的核心因素。 ; Known as an innovative tool for poverty alleviation, microfinance has been widely spread in developing countries in the past few decades. It is commonly claimed that microfinance institutions (MFIs) can provide financial opportunities to those who are unable to obtain loans from the formal system, while at the same time maintain their institutional sustainability. This promise has attracted the interest of developing countries with large population in poverty, leading to a remarkable emergence of microfinance industry on the global stage. ; Because of the special social and political environment, the development of MFIs in China has its unique trajectory. Based on interviews and participant observation, this three-month research focuses on two non-governmental MFIs in Western China and Northern China, revealing a plight of infeasible dual objectives and proposing an explanation from the angle of transformed trust structure. In a collapsing acquaintance community, the social objectives are suppressed by the demands of self-sustainability, thus violating the original intention of poverty alleviation and women empowerment, and leading to a phenomenon of goal displacement. ; To further discuss the logic behind the goal displacement phenomenon in microfinance industry, two propositions are suggested from the angles of legitimacy and measurability of organizational goals. The findings indicate that to ensure the ...

Bærekraftsmålene har gitt klassiske spørsmål innenfor utviklingspolitikken ny relevans: Hvem skal betale for globale fellesgoder? Kan man bruke bistand til dette formålet, eller bør den reserveres for innsats i spesifikke fattige land? I denne artikkelen undersøker vi hvordan DAC-landene, som kollektiv og hver for seg, forholder seg til disse temaene. Vi finner at de sliter med å følge en konsistent linje. Vi mener norske myndigheter kan tjene på å konseptualisere internasjonale fellesgoder bedre. Da blir det for det første enklere å ha en prinsipiell holdning til finansieringen av dem. For det andre kan en slik forståelse gi grunnlag for en strategisk tilnærming til nye initiativer. Det er liten grunn til å tro at man vil ha mye større budsjetter til rådighet fremover. Teorien viser dessuten at man må forvente at det er optimalt å bruke skreddersøm for å fremskaffe ulike fellesgoder. Det krever detaljkunnskap. Vi trenger større forståelse av hvordan eksisterende multilaterale organisasjoner og mekanismer som håndterer både bistand og globale fellesgoder virker. Vi trenger dessuten mer innsikt i hvordan dagens multilaterale system fungerer på ulike felt. Norge kan og bør bidra til det globale fellesgodet som denne typen kunnskap utgjør.
Abstract in EnglishBetween Politics and Statistics: Global Collective Goods and Development PolicyThe adoption of the Sustainable Development Goals has revived some classical issues in development policy: Who should pay for global collective goods? Can foreign aid be used for this purpose, or should such financing be reserved for efforts in specific poor countries? In this article we investigate how the members of the Development Assistance Committee of the OECD, collectively as well as individually, approach these questions. We find that they struggle to be consistent. In our opinion, the Norwegian government could gain from developing a better conceptualisation of global collective goods. This will first of all make it easier to have a consistent policy with respect to financing them. Secondly, such a conceptualisation will allow for a more strategic approach to new initiatives. Going forward, aid budgets are unlikely to grow much. Moreover, theory demonstrates that it is in general optimal to tailor the provision of different collective goods to the peculiarities of each case. This implies that expertise is essential. We need a better understanding of the functioning of existing multilateral organisations and mechanisms that manage both aid and global collective goods. In addition, more knowledge about the workings of the current multilateral system in different fields is required. Such knowledge is a global collective good and Norway could and should contribute to its provision.