Accountability and participation

THE ROUTE TO A GLOBAL PARTNERSHIP

7.5 Concluding remarks

7.5.3 Accountability and participation

One of the lessons from the experience with the Monterrey Consensus was that follow-up concentrated almost exclusively on ODA since it was really the only type of finance for which a target was set and a monitoring system (i.e. DAC aid statistics) existed. In future other types of finance should also be monitored in order to arrive at a more extensive accountability framework.

Equally, given the new financing context, the recognition of the importance of other types of finance and the different stakeholders (public and private) involved in each of them, it is important to establish a mechanism that allows for their participation in the on-going dialogue and accountability framework.

Having in place a framework for multi-stakeholder dialogue, which can monitor progress over time, will allow the FFD system to be properly managed and adjusted as required. Such a framework will depend on having appropriate data and information, which in turn depends on establishing an appropriate M&E system adapted to each form of finance. We have provided examples in Table 7.1.

CHAPTER 1.

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Background paper to the European Report on Development 2015: Combining finance and policies to implement a transformative post-2015 development agenda (2015).

• Hansen, H. and Tarp, F. (2001) ‘Aid and growth regressions’, Journal of Development Economics 64(2): 547-570.

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• Kinnunen, J. (2015) The Role of Infrastructure Finance and FDI in Boosting Growth of Moldova - MAMS-based Analysis. Background paper to the European Report on Development 2015: Combining finance and policies to implement a transformative post-2015 development agenda (2015).

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• OECD (2014a) Development Co-operation Report 2014: Mobilising Resources for Sustainable Development. Paris: Organisation for Economic Co-operation and Development.

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• Rahman, M., Khan, T. and Sadique, M. (2015) Public Expenditure Trends in LICs in the Context of the MDGs. Background paper to the European Report on Development 2015: Combining finance and policies to implement a transformative post- 2015 development agenda (2015).

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