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Moving beyond the 'post-Washington consensus', this book shifts the focus of development policy debates away from expenditures and austerity and towards revenues and resources. The book explores the potential and the developmental impact of different categories of resources for financing social policy in a development context.

Development economics. --- Welfare state. --- Economic policy. --- Finance, Public. --- Social service . --- Social policy. --- Development Economics. --- Politics of the Welfare State. --- Economic Policy. --- Public Finance. --- Social Care. --- Social Policy. --- Países en desarrollo --- Política social.

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This study provides a candid, systematic, and critical review of recent evidence on this complex subject. Based on a review of the literature and some new empirical evidence, it finds that (1) in spite of an apparently strong theoretical presumption, it is difficult to detect a strong and robust causal relationship between financial integration and economic growth; (2) contrary to theoretical predictions, financial integration appears to be associated with increases in consumption volatility (both in absolute terms and relative to income volatility) in many developing countries; and (3) there appear to be threshold effects in both of these relationships, which may be related to absorptive capacity. Some recent evidence suggests that sound macroeconomic frameworks and, in particular, good governance are both quantitatively and qualitatively important in affecting developing countries’ experiences with financial globalization.

Finance --- Globalization --- 339 --- 336.71 --- -Globalization --- -Developing Countries. --- croissance economique --- globalisation --- investissements --- pays en voie de developpement --- 330.05 --- Global cities --- Globalisation --- Internationalization --- International relations --- Anti-globalization movement --- Funding --- Funds --- Economics --- Currency question --- Handel. Internationale economische betrekkingen. Wereldeconomie --binnenlandse als buitenlandse handel; zie ook {339.3} en {339.5} --- Bankwezen --- economische groei --- globalisering --- investeringen --- ontwikkelingslanden --- Globalización. --- Países en desarrollo. --- 336.71 Bankwezen --- 339 Handel. Internationale economische betrekkingen. Wereldeconomie --binnenlandse als buitenlandse handel; zie ook {339.3} en {339.5} --- Globalización. --- Países en desarrollo. --- Finance - Developing countries --- Globalization - Developing countries --- Exports and Imports --- Finance: General --- Financial Risk Management --- Macroeconomics --- International Investment --- Long-term Capital Movements --- General Financial Markets: General (includes Measurement and Data) --- Macroeconomics: Consumption --- Saving --- Wealth --- Globalization: General --- Financial Crises --- Current Account Adjustment --- Short-term Capital Movements --- International economics --- Economic & financial crises & disasters --- Financial integration --- Capital flows --- Foreign direct investment --- Consumption --- Financial markets --- Balance of payments --- National accounts --- Capital movements --- International finance --- Investments, Foreign --- United States