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Festering Global Problems Require More Globalized Financing
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Festering Global Problems Require More Globalized Financing

Ajay Chhibber
Brookings Institution, 2016
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Recommendation

The problem of financing global public goods is a thorny one. The entire world benefits from actions on threats such as terrorism or climate change. But getting nations to fund these measures is difficult; they are loath to finance efforts beyond their borders. In this enlightening blog post, economist Ajay Chhibber offers various ideas on how to support global public goods. getAbstract recommends this thought-provoking essay to economists, policy makers and business executives with a global mind-set on sustainability.

Summary

People around the world are becoming more aware of the need to collaborate in pursuing the United Nations’ Sustainable Development Goals, including addressing threats to global public goods such as climate change, conflicts, cyberwar, natural disasters and extreme poverty. Such hazards cross national borders. Cooperative responses to these issues benefit the entire world and require global cooperation, but the money to take action is missing.

In 2015, both the UN’s Addis Ababa Action Agenda and the Paris Conference of Parties left out important elements of worldwide initiatives. For example, ...

About the Author

Ajay Chhibber is a visiting scholar at George Washington University and a visiting professor at New Delhi’s National Institute for Public Finance and Policy.

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