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Weekly wire: The global forum

Roxanne Bauer's picture

World of NewsThese are some of the views and reports relevant to our readers that caught our attention this week.

What Future For Emerging Markets?
Foreign Policy
Long before the current market debacle, I was confronted with a fundamental question about emerging markets. As I was finishing off my course at the Yale School of Management on “The Future of Global Finance” this past May, a student came up to me. “You have gone to great lengths to emphasize the role of emerging markets in a changing monetary system, “ he said, “ but everything I have been reading says that the era of the Brazils, the Indias, the Turkeys, the Indonesias as up-and-comers is history. Even China seems to have lost its luster. Have you been looking backwards and not forward?”

How Africa can benefit from the data revolution
The Guardian
The UN has estimated that across the world more people have access to mobile phones than to toilets. It is of course distressing to imagine what this means for many people’s exposure to disease and access to clean water, but the choice of mobile phone for the comparative statistic actually offers a great deal of hope. The mobile phone is part of a phenomenon where a new infrastructure is emerging, one that could bring the economic changes that enable those toilets to be built.  Our modern infrastructure is based on information. Since the 1950s, investment in data storage and distribution by companies and countries has been massive. Historically, data was centralised a single database. Perhaps one for representing the health of a nation, and another database for monitoring social security. However, the advent of the internet is showing that many of our existing data systems are no longer fit for purpose.

World Investment Report 2015 - Reforming International Investment Governance
This year’s World Investment Report, the 25th in the series, aims to inform global debates on the future of the international policy environment for cross-border investment.  Following recent lackluster growth in the global economy, this year’s Report shows that Foreign Direct Investment (FDI) inflows in 2014 declined 16 per cent to $1.2 trillion. However, recovery is in sight in 2015 and beyond. FDI flows today account for more than 40 per cent of external development finance to developing and transition economies.  This Report is particularly timely in light of the Third International Conference on Financing for Development in Addis Ababa – and the many vital discussions underscoring the importance of FDI, international investment policy making and fiscal regimes to the implementation of the new development agenda and progress towards the future sustainable development goals.

Five key findings from the 2015 Financial and Digital Inclusion Project Report & Scorecard
Convenient access to banking infrastructure is something many people around the world take for granted. Yet while the number of people outside the formal financial system has substantially decreased in recent years, 2 billion adults still do not have an account with a formal financial institution or mobile money provider.  This means that significant opportunities remain to provide access to and promote use of affordable financial services that can help people manage their financial lives more safely and efficiently.  To learn more about how countries can facilitate greater financial inclusion among underserved groups, the Brookings Financial and Digital Inclusion Project (FDIP) sought to answer the following questions: (1) Do country commitments make a difference in progress toward financial inclusion?; (2) To what extent do mobile and other digital technologies advance financial inclusion; and (3) What legal, policy, and regulatory approaches promote financial inclusion?

Fighting Corruption One Goal at a Time
Center for American Progress
In just a few weeks on September 25, heads of state and government from around the world will gather in New York City at the U.N. summit for the adoption of the post-2015 development agenda. Expected to be the largest gathering of heads of state ever, the summit will set out a voluntary framework known as the Sustainable Development Goals, or SDGs, that will inform global development policy and practice for the next 15 years. The new framework will replace the Millennium Declaration and the Millennium Development Goals, or MDGs—eight goals that the world has used as a roadmap to work toward ending extreme poverty for the past 15 years. Crucially, whereas the MDGs, which were launched in 2000, focused mainly on important social aspects of development—poverty, health, and child survival—the new framework is broader and tackles underlying barriers to development. The agreement includes the following specific language to combat illicit financial flows, or IFFs, and corruption, which undermine good governance and development: “by 2030 significantly reduce illicit financial and arms flows, strengthen recovery and return of stolen assets, and combat all forms of organized crime” and “substantially reduce corruption and bribery in all its forms.”

Committing to Child Survival: A Promise Renewed – Progress Report 2015
This report from A Promise Renewed – a global partnership initiative aimed at ending preventable child and maternal deaths – features updates and analyses of global, regional and national child mortality levels and trends. It also provides current information on causes of child and maternal deaths, and coverage of key interventions to prevent them, as well as projections for the 2015−2030 period. The report highlights impressive progress towards our commitment to increase child survival during the Millennium Development Goals era, which has saved the lives of some 48 million children under the age of 5 since 2000. Finally, it calls for intensified action in the context of the Sustainable Development Goals.


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