Leading governments undertook extraordinary measures to offset
the 2008 economic crisis, shoring up financial institutions,
stimulating demand to reverse recession, and rebalancing budgets to
alleviate sovereign debt. While productive in and of themselves,
these solutions were effective because they were coordinated
internationally and were matched with sweeping global financial
reforms. Unfortunately, coordination has weakened after these
initial steps, indicating one of the crisis's adverse effects will
be a significant reduction in development cooperation.
Urging advanced nations to improve their support for
development, the contributors to this volume revisit the causes of
the 2008 collapse and the ongoing effects of recession on global
and developing economies. They reevaluate the international
response to crisis and suggest more effective approaches to
development cooperation. Experts on international aid join together
to redesign the cooperation system and its governance, so it can
accept new actors and better achieve the Millennial Development
Goals of 2015 within the context of severe global crisis. In their
introduction, Jos? Antonio Alonso and Jos? Antonio Ocampo summarize
different chapters and the implications of their analyses,
concluding with a frank assessment of global economic imbalance and
the ability of increased cooperation to rectify these
inequalities.
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