Professor Tony Addison, UNU-WIDER, Chief Economist, Helsinki, Finland, e-mail: Addison@wider.unu.edu. Professor Channing Arndt, Department of Economics, University of Copenhagen, Studiestraede 6, DK-1455 Copenhagen K, Denmark, Tel: 19704722620, Fax: 45 35323000, e-mail: Channing.email@example.com. Professor Finn Tarp, Institute of Economics, University of Copenhagen, Studiestraeda 6 DK-1455, Copenhagen K, Denmark, Tel: 4535323041, e-mail: Finn.Tarp@econ.ku.dk.
The Triple Crisis and the Global Aid Architecture
Article first published online: 12 DEC 2011
© 2011 UNU-WIDER. African Development Review © 2011 African Development Bank
African Development Review
Special Issue: Rethinking African Economic Policy in Light of the Global Economic and Financial Crisis
Volume 23, Issue 4, pages 461–478, December / Decembre 2011
How to Cite
Addison, T., Arndt, C. and Tarp, F. (2011), The Triple Crisis and the Global Aid Architecture. African Development Review, 23: 461–478. doi: 10.1111/j.1467-8268.2011.00299.x
- Issue published online: 12 DEC 2011
- Article first published online: 12 DEC 2011
Abstract: The global economy is passing through a period of profound change. The immediate concern is with the financial crisis, originating in the North. The South is affected via reduced demand and lower prices for their exports, reduced private financial flows and falling remittances. This is the first crisis. Simultaneously, climate change remains unchecked, with the growth in greenhouse gas emissions exceeding previous estimates. This is the second crisis. Finally, malnutrition and hunger are on the rise, propelled by the recent inflation in global food prices. This constitutes the third crisis. These three crises interact to undermine the prosperity of present and future generations. Each has implications for international aid and underline the need for concerted action.