UNCTAD Trade And Development Report, 2020
UNCTAD has released its annual trade and development report.
It emphasises the importance of Keynesianism and cites Post-Keynesian authors such as Joan Robinosn, Nicholas Kaldor, Wynne Godley, Francis Cripps, Marc Lavoie, Anthony Thirlwall.
From the summary:
From crisis to prosperity for all
Much more ambitious multilateral measures will be required if a global crisis is to be transformed into a global recovery:
- Expanding the use of Special Drawing Rights (SDRs) to support national development strategies in developing countries through a truly internationally governed reserve system. At the very least, developing countries’ fiscal spaces should be backed by the equivalent of $1 trillion of SDRs to meet current liquidity constraints.
- Financial support for boosting the health emergency response to COVID-19 in developing countries through a Marshall Plan for Health Recovery funded through increased official development assistance (ODA) commitments, international tax reform and enhanced multilateral financing mechanisms, on a scale to build resilience and boost recovery.
- An international Public Credit Rating Agency to provide objective expert-based ratings of the creditworthiness of sovereigns and companies, including developing countries, and to promote global public goods. This would, moreover, help to promote competition in a highly concentrated private market.
- A Global Debt Authority to stop a repeat liquidity crises from turning into serial sovereign defaults. Such an authority would build a repository of institutional memory on sovereign debt restructurings. It would also oversee the establishment of a global publicly accessible registry of loan and debt data pertaining to sovereign debt restructurings. In addition, it would develop a blueprint for a comprehensive and transparent international legal and institutional framework to govern automatic temporary standstills on sovereign debt repayments in times of crises and to manage sovereign debt workouts in a fair, efficient and transparent manner.
The title is the link. You can download find the PDF file in that link.