Inequality Off-setting Development Gains- OECD …

• January 17th, 2013
• Posted by EUEditor

Growing inequality has been registered in all countries in an assessment by the OECD, with the drive for economic development off-set by persistent poverty .

Changing world development needs

Development Ministers from the organisation’s 34 countries met as its High Level Development Assistance Committee in December (London, 4-5.12.12), acknowledging that “the context for development assistance has irrevocably changed”.

“Shifting global wealth is breaking down the former division between North and South. Co-operation among South-South partners, as well as triangular co-operation, is complementing North-South co-operation, thereby increasing the scope, reach and effectiveness of the international development assistance system. Likewise, civil society and the private sector are playing an increasingly important role as partners in development co-operation”, the organisation reported.

  Concluding that governments must organise better coordination of development work, assessment and financing at all levels; the Ministers noted also that with the growing incomes gap between richest and poorest, “despite  development successes of the last 20 years  1.4-billion people still live in absolute poverty.”

Also from the OECD: its economic outlook for Southeast Asia, citing domestic demand as a major driver of growth.

“Medium-term growth prospects for Southeast Asia show resilience with domestic demand being the major driver of growth”, it says, “though Emerging Asia will begin to slow gradually.”

“Narrowing development gaps within and among countries remains a key challenge in the region.

“ASEAN economies are forecast to growth at 5.5% through 2017. The key policy challenges to sustain healthy growth are: the appropriate management of capital inflows and ‘dollarisation’ as well as enhancing fiscal capacities through better revenue mobilisation.

“Southeast Asian countries also need to search for new growth models and development strategies as well as rely more on domestic demand to adapt to changing international market conditions.

“According to the newly developed ASEAN-OECD Narrowing Development Gaps Indicators (NDGIs), disparities are at their widest in poverty and human capital development. Hence, these areas require greater efforts.”

The Organisation for Economic Cooperation and Development (OECD), based in Paris, has 34 member countries drawn from among the leading economic and trading  states. It compiles research and provides a forum on economic and development policies. See http://www.oecd.org

The Association of South-east Asian Nations (ASEAN) is an association of ten states in the South-east Asian region, with two observer states (Timor Leste and Papua New Guinea).  The member states confer on economic issues and geo-politics, and work collaboratively towards peaceful resolution  of conflict in the region . See http://www.aseansec.org/

Reference

OECD, Paris, Southeast Asian Economic Outlook 2013: With Perspectives on China and India, 13.12.12, OECD, Paris, 13.12.12. http://www.oecd.org/dev/asiaandpacific/saeo2013.htm, (17.1.13).

OECD, Paris, “Ministers pledge to finance effective development”, 6.12.12.  http://www.oecd.org/newsroom/ministerspledgetofinanceeffectivedevelopment.htm, (17.1.13).

Pictures  UNDP, Chinaautomobile

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