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Investing in Change: Towards Sustainable Economic and Social Policy after the Crisis
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Transcript of Investing in Change: Towards Sustainable Economic and Social Policy after the Crisis
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Investing in Change: Towards Sustainable Economic and
Social Policy after the Crisis
Simon MaxwellOverseas Development Institute
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The paper
• Makes the case for ‘investing in change’• Celebrates past successes;• Reviews future challenges: food; climate;
urbanisation; demography; globalisation.• Assesses the current policy debate;• Reviews policy specifics; and• Explores options for the Commonwealth.
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In brief:
Three tough truths
Three tough questions
Postscript
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Three tough truths
• The financial crisis was merely the curtain-raiser to a new age of complexity and common challenge.
• There is no alternative to a strategy of ‘invest in the future’.
• Commonwealth countries entered the crisis and will leave it with very different ability to respond.
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Source: WDR 2010
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Four scenarios
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Three tough questions
• Do you as Commonwealth Finance Ministers agree with the three propositions?
• Do you think the politics of economic policy have shifted as a result of the crisis?
• How can Commonwealth countries work together and support each other?
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The Common Characteristics of High, Sustained Growth
Source: Commission on Growth and Development, 2008
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To be specificUNCTAD, ILO, World Bank, UN, G-20, CS:
• Financial regulation• Social protection• Public services• Research and Development• Education and Training• Infrastructure• Support to productive sectors• Business partnerships• International cooperation
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Next steps?
• Advocacy
• Working together
• Mandates for the Secretariat
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Investing in change: a future work programme?
• Beyond resilience: Investing in change indicators
• ‘Readiness reports’• Policy watchtower• Scenario planning• Sectoral initiatives on e.g. food
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Postscript: from risk analysis to values-based transformation
The 18 Core Global Risks: Likelihood with Severity by Number of Deaths
Source: World Economic Forum - Global Risks 2008
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