No. There are three
main reasons why it does not:
First, the main
building blocks for global public goods are national public goods, which
means that the bulk of the financing for global public goods comes from
the national level. For each dollar spent at the international level,
about 200 to 400 are spent at the national level for global public goods.
Second, financing
global public goods is not only about raising more funds, but rather, it
is more about optimizing the allocation of existing resources. Such
reallocation could even imply some savings. If we switch from controlling
global public bads to providing global public goods, billions could be
saved. For example, the eradication of smallpox generated a 46 percent
return. [Conceição, discusses global public goods as investments with
high social returns in his assessment chapter. See also the answer to
question 19.]
Third, providing
global public goods is not only a money matter. Global public goods can be
better provided if appropriate systems, such as new markets or appropriate
codes and standards, are created and made effective.
