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Financing Renewable Energy in Developing Countries

Mechanisms and Responsibilities

Stephany Griffith-Jones, José Antonio Ocampo, Stephen Spratt

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This working paper was co-authored by IPD's Stephany Griffith-Jones and Jose Antonio Ocampo, along with Dr. Stephen Spratt from the Institute of Development Studies. This paper reviews the instruments currently in use to finance renewable energy in developing countries, and considers those that have been proposed but not yet fully employed. It served as a background paper to the European Report on Development 2011/2012: Confronting scarcity: Managing water, energy and land for inclusive and sustainable growth. The European Report on Development was prepared by the Overseas Development Institute (ODI) in partnership with the Deutsches Institut für Entwicklungspolitik (DIE) and the European Centre for Development Policy Management (ECDPM).

About the Authors

Stephany Griffith-Jones
Financial Markets Program Director
Initiative for Policy Dialogue

Stephany Griffith-Jones is Financial Markets Program Director at IPD, as well as an economist whose areas of expertise include global capital flows to emerging markets and international financial reform; macro-economic management of capital flows in Latin America, Eastern Europe and sub-Saharan Africa; and international financial reform with special emphasis on regulation (Basel II, hedge funds and derivatives). Prior to joining IPD, Professor Griffith-Jones was Professorial Fellow at the Institute of Development Studies at University of Sussex and served as Senior Official at the United Nations Department of Economic and Social Affairs and the Economic Commission of Latin America (ECLAC), and as Head of International Finance at the Commonwealth Secretariat. She has acted as senior consultant to governments in Eastern Europe and Latin America and to many international agencies, including the World Bank, the Inter-American Development Bank, and the United Nations (especially UNDP and ECLAC). She began her career at the Central Bank of Chile and since then has published many articles and books including International Finance and Development with Jose Antonio Ocampo and Jan Kregel. She received the Association of Latin American Financial Institutions prize for best essay on Latin America's international finance.

José Antonio Ocampo
Professor of International and Public Affairs
School of International and Public Affairs
Columbia University

Jose Antonio Ocampo is Co-President of IPD, Professor of Professional Practice in the School of International and Public Affairs, and Fellow of the Committee on Global Thought at Columbia University. Prior to his appointment at Columbia, Professor Ocampo served as the United Nations Under-Secretary-General for Economic and Social Affairs, and head of UN Department of Economic and Social Affairs (DESA), as Executive Secretary of the UN Economic Commission for Latin America and the Caribbean (ECLAC), and has held a number of high-level posts in the Government of Colombia, including Minister of Finance and Public Credit, Director of the National Planning Department, and Minister of Agriculture . Professor Ocampo is author or editor of over 30 books and has published over 200 scholarly articles on macroeconomic theory and policy, international financial issues, economic development, international trade, and Colombian and Latin American economic history.

Stephen Spratt
Globalization Team
Institute of Development Studies

Dr Stephen Spratt's research interests relate to development finance, financial sector reform and regulation, socially responsible investment (SRI), the emerging climate change financing architecture and the intersection between these issues. Professionally, he has been Head of the Sustainable Markets Group at IIED, Research Director at the New Economics Foundation and a Lecturer in international finance and development at the University of Reading. He has also worked in the private sector in the City of London, as Head of Research at Intelligence Capital Limited, Senior Investment analyst with Global Asset Management Limited and a Visiting Fellow in the Global Research Department at State Street Bank & Trust.

Stephen holds a BA from the University of East Anglia, an MSc from the School of Oriental and African Studies (SOAS), University of London, and a DPhil from the Institute of Development Studies, University of Sussex.

Publication Information

Type Working Papers
Program Environmental Economics
Download 1.4mb pdf
Posted 05/17/12