This point is relevant, once again, in the global dialogue about climate change justice and the financing that should be directed from rich countries to poor ones. There is a strong focus on costing the climate change impact for poor countries and using those estimates to lobby for massive inflows.
But we have seen many times that the sum of money is secondary to the quality of policies, the incentives they create and the  This point is also well made by World Bank Chief Economist Indermit Gill in his foreword to the June 2023 Global Economic Prospects: “… long before the outbreak of the pandemic, governments across the world had developed an appetite for huge budget deficits.