Financing green transformation in developing countries

Anis Chowdhury; Mohammad Zulfan Tadjoeddin

doi:10.1080/02255189.2022.2113767

Financing green transformation in developing countries

Anis Chowdhury
, Mohammad Zulfan Tadjoeddin

Research output: Contribution to journal › Article › peer-review

8 Citations (Scopus)

8 Downloads (Pure)

Abstract

The prospects for external financing of green transformation and resilient post-COVID-19 recovery remain bleak for developing countries. The scope for mobilising substantial domestic resources is limited, while public-private partnerships and blended finance failed to mobilise promised finance. Borrowing from central banks remains the only viable option for financing green transformation. The conventional arguments against such borrowing, e.g. growth retarding acceleration inflation or macroeconomic instability do not have sound theoretical or empirical basis. However, democratic oversights are needed against fiscal abuse to ensure productive utilisation of borrowed funds. A high degree of coordination between fiscal and monetary authorities is also essential.

Original language	English
Pages (from-to)	430-453
Number of pages	24
Journal	Canadian Journal of Development Studies
Volume	44
Issue number	3
DOIs	https://doi.org/10.1080/02255189.2022.2113767
Publication status	Published - 2023

Bibliographical note

Publisher Copyright:
© 2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group.

Open Access - Access Right Statement

© 2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way.

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 1 No Poverty
SDG 13 Climate Action
SDG 15 Life on Land

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Financing green transformation_open_access

Cite this

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abstract = "The prospects for external financing of green transformation and resilient post-COVID-19 recovery remain bleak for developing countries. The scope for mobilising substantial domestic resources is limited, while public-private partnerships and blended finance failed to mobilise promised finance. Borrowing from central banks remains the only viable option for financing green transformation. The conventional arguments against such borrowing, e.g. growth retarding acceleration inflation or macroeconomic instability do not have sound theoretical or empirical basis. However, democratic oversights are needed against fiscal abuse to ensure productive utilisation of borrowed funds. A high degree of coordination between fiscal and monetary authorities is also essential.",

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AB - The prospects for external financing of green transformation and resilient post-COVID-19 recovery remain bleak for developing countries. The scope for mobilising substantial domestic resources is limited, while public-private partnerships and blended finance failed to mobilise promised finance. Borrowing from central banks remains the only viable option for financing green transformation. The conventional arguments against such borrowing, e.g. growth retarding acceleration inflation or macroeconomic instability do not have sound theoretical or empirical basis. However, democratic oversights are needed against fiscal abuse to ensure productive utilisation of borrowed funds. A high degree of coordination between fiscal and monetary authorities is also essential.

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Financing green transformation in developing countries

Abstract

Bibliographical note

Open Access - Access Right Statement

UN SDGs

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