New approach to global crises proposed

May 11, 1999
Web posted at: 11:30 AM EDT

A United Nations Development Program study released Monday argues for a new approach to world crises -- from financial crises to humanitarian emergencies, global warming, the emergence of new disease strains and the increasing gap between rich and poor.

The book bases its theories on the increasing interdependence between nations and concludes that it is essential for countries to work together to tackle problems such as environmental degradation, narcotics, population growth and terrorism.

Global Public Goods: International Cooperation in the 21st Century, says that a global fund for the environment, health, culture and peace would help tackle problems that affect the entire world, not simply the countries in which they initially occur.

The report suggests a five-year commitment by donor countries to commit 0.1 percent of their gross domestic product to the fund, which would produce roughly $100 billion.

Like the U.S. Marshall Plan, which revived Europe after World War Two, the Global Participation Fund would be administered by its recipients, "the nations of the South."

"This volume introduces a framework for facilitating and reinforcing international development through an equal partnership model of cooperation. I find it enlightening, and hopefully reflective of the changing values of this era," said Ismail Razali, chairman of the Central Bank of Malaysia.

The authors of the study include Amartya Sen, 1998 Nobel Prize in Economics; Joseph Stiglitz, Chief Economist and the World Bank; Jeffrey Sachs, Harvard Institute for International Development; Nancy Birdsall, Carnegie Council for International Peace; and Robert Lawrence, Council of Economic Advisors to the U.S. President.

For more information, contact Inge Kaul, UNDP, (212)906-6064.

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