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[Pages 219-285]
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Introduction
    A.  Significance of the Monterrey Consensus
        1.  Focus on Measurable Improvements
        2.  The Monterrey Consensus: A New Global Partnership
        3.  Implementation of the Consensus
    B.  Relevance of International Law
        1.  Consolidating Legal Foundations of the World Community
        2.  Development as a Theme in International Law
        3.  Needs and Concerns of Developing Countries
        4.  Expectations of Developing Countries from International Economic Law
I.  The Context of Challenges Posed to Developing Countries
    A.  Poverty in the Contemporary World
        1.  Co-Existence of Deprivation and Plenty
        2.  Consensus on Assault on Poverty
    B.  Globalization
        1.  Complexity of Globalization
        2.  Globalization and Poverty Reduction
        4.  Relevance of Globalization to the Response Expected from International Law
II.  International Economic Law: Concept, Scope, and Potential
    A.  Classical Law of Nations
    B.  Change of Paradigm: Two Important Events
        1.  Birth of the United Nations
        2.  Impact of Globalization
    C.  Definition of International Economic Law
        1.  Two Approaches
        2.  Expansive View as to the Scope of International Economic Law
        3.  International Economic Law and International Development Law
    D.  Dynamic Development of the Scope of International Law
        1.  Cooperative Law of Nations
        2.  Alterations in the Sociological Structure of the Community of Nations
        3.  Duty to Cooperate
    E.  Historical Logic for Evolving New Foundations
        1.  Westphalia Model
        2.  Post-Westphalia Model
III.  The Monterrey Consensus
    A.  Pre-Eminent Moral and Humanitarian Challenge
        1.  Expectations of Developing Countries
        2.  Emerging Framework for Poverty Reduction
    B.  Mobilizing Resources for Meeting MDGs
        1.  Partnership for Eradication of Poverty
        2.  Combination of National and Multilateral Efforts
    C.  Themes of the Monterrey Consensus
IV.  Mobilizing Domestic Financial Resources for Development
    A.  Mobilizing Domestic Resources
    B.  Supportive Actions by the International Community
V.  Mobilizing International Resources for Development: Foreign Direct Investment (FDI) and Other Private Flows
    A.  Importance of Private Capital Flows for Development
    B.  The Need for Efforts by Developing Countries
        1.  Improving the Investment Climate
        3.  Change in Attitudes of Developing Countries
    B.  Salient Features of the Current Investment Regime
        1.  Regulation by Laws of Host Nations
        3.  Trade-Related Investment Measures
        4.  Bilateral Investment Treaties
        3.  Stabilization and International Arbitration Clauses
        4.  Political Risk Insurance
    C.  Evolving System of FDI and Proposals for the Future
        1.  Desired Changes in the Existing System
        2.  Preferred Multilateral Investment Regime
    D.  Problem of the Concentration of Flows
VI.  International Trade as an Engine for Development
    A.  Multilateral Rule-Based Trading System
        1.  Benefits of Multilateral Systems and Liberalization
        2.  Role of International Economic Law
    B.  Accord at Doha
        1.  Implementing the Outcome of the Doha Accord
        2.  Concerns of Developing Countries on the Eve of the Doha Conference
    C.  Doha Work Program: Covering Three Kinds of Issues
        1.  Recognition of Developing Countries’ Needs
        2.  Chances of Operational Fulfillment
        3.  Uruguay, Doha, and Cancún: One Step Forward, Two Steps Back
VII.  Official Development Assistance (ODA)
    A.  ODA: A Core Element of the Monterrey Consensus
        1.  Largest Source of Financing for Many Countries
        2.  Effectiveness of ODA
    B.  Shrinking Volumes and the Impact on Poverty
        1.  Substantial Decline in ODA
        2.  Estimates for Required Poverty Reduction
    C.  Issues of Focus and Predictability
        1.  Greater Allocation to Poorest Countries
        2.  Predictability, Continuity, and Certainty of Flows
    D.  Recipients’ Role in Aid Effectiveness
        1.  Importance of Institutions, Governance, and Policies
        2.  Accord on Recipients’ Responsibilities
    E.  A New Paradigm for ODA
        1.  Building Blocks for a New ODA Architecture
        2.  Transformation of ODA into a Binding Obligation
        3.  Right to Development: Lending Additional Validity to Entitlement
        4.  Crossing the Conceptual Divide
        5.  Basis of Transformation in International Law
VII.  External Debt
    A.  Extremely Serious Problems
        1.  Debt Relief for Development
        2.  Enhanced HIPC Initiative
        3.  The Need for Additional Funds
    B.  Sovereign Debt Issue
        1.  Need for Improved Restructuring of Sovereign Debt
        2.  Envisaged Legal Framework
        3.  Difference of Opinion
IX.  Innovative Sources of Financing for Development
    A.  A Need for Innovation in Financing Development
        1.  Raising Funds Without Imposing Heavy Burdens
        2.  National Taxes Under International Agreements
X.  Systemic Issues
A.  Coherence, Governance, and Consistency
        1.  Better Response from International Partners
        2.  Specific Improvements Sought
    B.  Prioritizing Efforts
Conclusion
    A.  A Qualitatively Different Conference and Document
    B.  Role of IEL: Going Beyond Instrumentality and Pace