During the 1990s, the official and private flows showed opposite trends; while the former tended to decline over the years but private capital flows showed significant growth. In view of instability of private capital flows, various emergency packages were designed. But the official development finance and bilateral and consistently lagged behind; at present it is just one third of agreed target of 1 p.c. of GNP of developed countries. Above trend was partly offset by increased share of growth in ODA; the focus of private flows has been on middle-income countries but low-income countries’ share in private financing has been declining. But foreign direct investments are highly focused on China and in the middle-income countries financial volatility and contagion issues are most relevant. Hence there is a need for exceptional financing with focus on some emerging countries. The volatility of contagion showed by the private capital flows are a serious problem indeed; no less important are issues of marginalization of the poorest countries.
ABOUT THE AUTHOR Neelambar Hatti
Neelambar Hatti is mainly involved in research at the Department of Economic History, University of Lund, Sweden. Dr. Hatti has written extensively on Trade, Aid and Rural Development, and Microdemography. He has also taught at the University of Copenhagen and has been a visiting Senior Fellow at the Scandinavian Institute of Asian Studies. He has recently authored (with Rameshwar Tandon) the study, Exports and Development: The Indian Experience.
ABOUT THE AUTHOR Rameshwar Tandon
Rameshwar Tandon works at the International Institute for Special Education, Lucknow. For the last three decades, he worked with Prof. VKRV Rao at the Institute for Social and Economic Change, Bangalore. He is author-editor of numerous books and articles, most recently, Exports and Development: The Indian Experience (jointly with Prof. Neelambar Hatti)
ABOUT THE AUTHOR Sir Hans Singer
Sir Hans Singer is Emeritus Professor of the University of Sussex and a Fellow of the Institute of Development Studies at the University of Sussex since 1969. Previously he served in the United Nations Secretariat for over 20 eyars and held a number of academic and civil service posts. He is the author of numerous books and articles, most recently The Foreign Aid Business (jointly with K. Raffer).
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