OTTAWA, Dec. 3, 2013 /CNW/ - New research funded by Canada's
International Development Research Centre (IDRC) shows that emerging
economies are dramatically increasing their financial flows to the
developing world. And as previously happened in developed countries,
most of those flows are from private rather than public sources,
notably through remittances.
The analysis, conducted by the Hudson Institute's Center for Global
Prosperity in Washington, DC, is published in the 2013 Index of Global Philanthropy and Remittances: With a Special Report on
Emerging Economies. The Index is being launched on Thursday, December 5th at the Hudson Institute, Washington, D.C. Headquarters In a panel
discussion, Dr Carol Adelman, Director of Hudson's Center for Global
Prosperity and co-author of the new report, will discuss its findings
and implications for global assistance to the developing world. She
will be joined by Yulya Spantchak, Center for Global Prosperity,
Hudson Institute; Tomicah Tillemann, U.S. Department of State; Alex
Their, United States Agency for International Development; and Dennis
Whittle, Ashoka Foundation and co-founder of Globalgiving.com.
For the first time, the 2013 Index looks at the total economic engagement of developed countries and
emerging economies with the developing world. This unique approach
looks not just at government aid, but private financial flows including
global philanthropy, private capital investment, and private
remittances sent by migrants back home.
Of all financial flows, private flows from developed to developing
countries are greater than 80%; government aid is less than 20%, the
opposite of 40 years ago. In the four emerging economies studied -
Brazil, China, India, and South Africa - more than 95% of financial
flows to developing countries are private and fewer than 5% are
government aid. The dominance of private flows over government aid
reflects a dramatic change in developing countries.
The 2013 Index shows that emerging economies play a significant role in private flows
to developing countries. The four emerging economies studied provide
15% of the US$680 billion in private flows from both developed and
emerging economies in the form of private capital investment ($88
billion), remittances ($14.2 billion), and philanthropy ($366
million). "Private philanthropy was the most difficult to measure,"
says Adelman, "and is very likely underestimated."
The research uncovered a growing philanthropic infrastructure in each of
the four countries with the beginnings of creative overseas
philanthropic projects. Adelman is optimistic about philanthropy in
emerging economies. "Our research shows encouraging signs that emerging
economies will increase giving beyond their own borders," she reports.
The Hudson Institute partnered with five in-country nonprofit
organizations to collect the data: Charity SA in South Africa; China
Foundation Center in China; Comunitas and Grupo de Institutos Fundacoes
e Empresas in Brazil; and the Sampradaan Indian Centre for
The report can be downloaded online at www.global-prosperity.org/. The Index was launched in Canada in a special presentation held in
collaboration with the IDRC and the Economic Club of Canada. Watch or read a full transcript of the Canadian launch.
Journalists can also join in the conversation through Storify, Twitter (#CGPIndex) and Facebook.
For more information, visit www.idrc.ca.
Putting research to work
Canada's International Development Research Centre (IDRC) funds
practical research in developing countries to increase prosperity and
security, and to foster democracy and the rule of law, in support of
Canada's international development efforts. We promote growth and
development and encourage sharing knowledge with policymakers, other
researchers, and communities around the world. The result is
innovative, lasting solutions that aim to bring change to those who
need it most.
SOURCE: International Development Research Centre
For further information:
+1 613 696-2343