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Policy Coherence for Sustainable Infrastructure in Developing Countries: The Case of OECD-country Public Financing for Large Dams

Policy Coherence for Sustainable Infrastructure in Developing Countries: The Case of OECD-country... Global Governance 15 (2009), 461-484 Policy Coherence for Sustainable Infrastructure in Developing Countries: The Case of OECD-country Public Financing for Large Dams Georg Caspary Public financial institutions (PFIs) provide vital investment for poor coun- tries, and act as catalysts for additional private capital. However, the projects thus financed often have social and environmental side effects. Safeguards systems control such side effects. This article compares the strength of PFIs’ safeguards systems. Although the study uses financing for dams as an exam- ple, the issue has much larger applicability. In fact, all development project or policy interventions have social or environmental side effects and there- fore necessitate safeguards. This article notably finds substantive evidence that safeguards performance substantially differs between different PFIs. It argues that the most important explanations for this finding are differences in coordination mechanisms among different PFIs, and diverging interest group pressure on different PFIs. Finally, the article explores several avenues for future work following from these findings, notably exploring steps to har- KEYWORDS: infrastructure finance, monize PFIs’ safeguards performance. developing countries, policy coherence, safeguards, dams. n all those years since the building of the dam, this is the first time some- one knocks on our door to http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Global Governance: A Review of Multilateralism and International Organizations Brill

Policy Coherence for Sustainable Infrastructure in Developing Countries: The Case of OECD-country Public Financing for Large Dams

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Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1075-2846
eISSN
1942-6720
DOI
10.1163/19426720-01504007
Publisher site
See Article on Publisher Site

Abstract

Global Governance 15 (2009), 461-484 Policy Coherence for Sustainable Infrastructure in Developing Countries: The Case of OECD-country Public Financing for Large Dams Georg Caspary Public financial institutions (PFIs) provide vital investment for poor coun- tries, and act as catalysts for additional private capital. However, the projects thus financed often have social and environmental side effects. Safeguards systems control such side effects. This article compares the strength of PFIs’ safeguards systems. Although the study uses financing for dams as an exam- ple, the issue has much larger applicability. In fact, all development project or policy interventions have social or environmental side effects and there- fore necessitate safeguards. This article notably finds substantive evidence that safeguards performance substantially differs between different PFIs. It argues that the most important explanations for this finding are differences in coordination mechanisms among different PFIs, and diverging interest group pressure on different PFIs. Finally, the article explores several avenues for future work following from these findings, notably exploring steps to har- KEYWORDS: infrastructure finance, monize PFIs’ safeguards performance. developing countries, policy coherence, safeguards, dams. n all those years since the building of the dam, this is the first time some- one knocks on our door to

Journal

Global Governance: A Review of Multilateralism and International OrganizationsBrill

Published: Aug 12, 2009

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