Business Essay

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OVERVIEW T HE N EW P UBLIC F INANCE R ESPONDING TO G LOBAL C HALLENGES E DITED BY I NGE K AUL P EDRO C ONCEIÇÃO Published for The United Nations Development Programme New York Oxford Oxford University Press 2006 “This book is a landmark—it provides the important beginnings of a field that will be tilled for years to come.” Excerpt from the Prologue to The New Public Finance JOSEPH E. STIGLITZ Nobel Laureate in Economics (2001), Columbia University “This is a bold and penetrating compilation of papers on the most profound challenges of modern public finance—how to construct better partnerships between governments and private sector players and how to strengthen cooperation between nations in pursuit of common interests.” TREVOR A. MANUEL MP; Minister of Finance, Republic of South Africa “The New Public Finance shows how we can equip people and countries for the future—for a new global economy that combines greater prosperity and fairness both within and across nations. The New Public Finance is important reading for today’s policymakers.” RT HON GORDON BROWN MP; Chancellor of the Exchequer, United Kingdom “As the global economy widens its reach, the principles and instruments of public finance face new problems and tasks. This volume takes an imaginative and down-to-earth look at the problems and the policy instruments needed to resolve them. It is a volume not to be missed.” RICHARD A. MUSGRAVE Harvard University “The New Public Finance is a real eye-opener. It is a must for everyone with an interest in international developments in economics, law, business, and intergovernmental relations.” SIJBREN CNOSSEN University of Maastricht “The problems facing policymakers in a globalized world require international cooperation. But efficient policy design also demands a reconsideration of the respective tasks of the public and private sectors. This is

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