With the deadline for achieving the 2015 Millennium Development Goals (MDGs) less than a decade away, the uneven progress is raising important questions about the ability of the international community to 'scale up' its efforts to finance the goals. Securing adequate financing for development has thus become the most pressing issue of the development agenda. This groundbreaking volume, by leading development economists and practitioners, addresses the central concern for policymakers involved in long term planning for the MDGs: how to create 'fiscal space' for the MDGs and strengthen domestic resource mobilization for human development, while ensuring long-term sustainability and freedom from reliance on aid. By looking at the evidence with fresh perspectives, the authors present a novel approach by which fiscal policy can be made to work for the poor, for the long term. Published with UNDP and Revenue Watch.
'This book makes a very important contribution to answering the question of how to increase fiscal space in developing countries with a view to achieving the MDGs. The solid analytical contribution is complemented by a number of country case studies that yield valuable empirical findings.' Jaime Ros, Professor of Economics at the University of Notre Dame and Faculty Fellow at the Helen Kellogg Institute of International Studies
Introduction 1. Investing in Development: The Millennium Development Goals, Aid and Sustainable Capital Accumulation 2. Fiscal Space for What? Analytical Issues from a Human Development Perspective 3. Fiscal Space for Public Investment: Towards a Human Development Approach 4. The Fiscal Space Conjecture: Theoretical Reflections 5. Understanding Fiscal Expansions 6. A Review of Four Case Studies on Fiscal Space: Morocco, Senegal, Thailand and Venezuela 7. Guaranteeing Fiscal Space for Human Development in Morocco 8. Securing Fiscal Space for the Millennium Development Goals in Senegal 9. The Fiscal Space of Thailand: An Historical Analysis 10. Plenty of Room? Fiscal Space in a Resource-Abundant Economy: The Case of Venezuela Appendix: Selected Economic Indicators (2006) for Morocco, Senegal, Thailand and Venezuela