National Government Interventions in a Global Arena
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Edited by Frank Wijen, Kees Zoeteman, Jan Pieters and Paul van Seters
Chapter 16: Financing Global Public Goods: Responding to Global Environmental Challenges
16. Financing Global Public Goods: Responding to Global Environmental Challenges Pedro Conceição and Inge Kaul1 SUMMARY We argue that the public or private nature of goods is often not technically given but shaped by policy choices. Similarly, the growing importance of global public goods often results from a policy choice: the decision of states to foster greater economic openness. Many global public goods are globalised national public goods. Accordingly, we discuss options of financing global public goods at the national and international levels. The international-level financing of these goods especially is still a field marked by experimentation and innovation. Yet, it is already clear that financial aid is fundamentally different from financing global public goods. We conclude that global public goods call for tailor-made financial arrangements. Furthermore, a comprehensive theory that looks at the national and international aspects of global-public-goods provision and its financing is still lacking but more than overdue, considering the growing importance of these goods. INTRODUCTION Globalisation has brought the world closer together. A widening range of policy challenges stretches across borders. For example, the global financial and economic crisis that originated in the financial sector of developed economies in 2008 quickly spread to many other countries. As a consequence, the world’s agenda of international cooperation has changed in recent decades. Conventional concerns of foreign affairs, international 1 The views expressed are the authors’ and do not necessarily reflect those of the United Nations Development Programme. 467 M2782 - WIJEN TEXT.indd 467 16/11/2011 11:30 468...
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