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The "Washington Consensus" and Development Economics (pdf)

Mark Weisbrot writes "The disappearance of development economics, and replacement of economic development strategy with a simple code for liberalizing international trade and capital flows, has undoubtedly contributed to the economic failure experienced by the vast majority of low to middle income countries over the last two decades."

http://www.unrisd.org/80256B3C005BCCF9/httpNetITFramePDF?ReadForm&parentunid=3AD5D5F2520B7436C1256BC9004C3D2C&parentdoctype=paper&netitpath=80256B3C005BCCF9/(httpAuxPages)/3AD5D5F2520B7436C1256BC9004C3D2C/$file/weisbrot.pdf

(Added: Wed Jun 26 2002   Modified: Mon Apr 10 2006   Hits: 301)

The Asian financial Crisis and Filipino Households: Impact on Women and Children (PDF)

By Jenina Joy Chavez, Focus on the Global South and Save the Children (UK). The study focuses on Children and Women who bear the brunt of macro-economic crisis such as that in 1997. This study was conducted from March 1999 to March 2000.

http://www.focusweb.org/publications/Books/Women_and_children.htm

(Added: Fri Dec 19 2003   Modified: Tue Oct 11 2005   Hits: 247)

The continued failure of the World Bank and the IMF to fully assess the impact of their advice on the poor

It seems impossible that the World Bank and International Monetary Fund (IMF) would give advice to developing countries without fully considering how it might affect the lives of poor people. Yet, despite it being a long-stated policy of both institutions to do so, and some recent progress on the part of the IMF, they are still failing to consistently ensure that there is a proper assessment of the likely consequences of different policy actions on the poorest people (Eurodad, September 2007).

http://www.eurodad.org/uploadedFiles/Whats_New/Reports/Blind%20spot%20The%20continued%20failure%20of%20the%20World%20Bank%20and%20IMF%20to%20fully%20assess%20the%20impact%20of%20their%20advice%20on%20poor%20people.pdf

(Added: Fri Oct 05 2007   Hits: 177)

The Free Market Does Not Work

In this interview, Stiglitz discusses many of the ideas in his book "Making Globilization Work" is a higly readbale way. Summing up, he says that "It's really a book saying we can use the forces of market but we have to shape the forces of the market. Without shaping them, often they work in the wrong way. The companies maximize their profits by polluting." (Joseph E. Stiglitz, L'Humanité, 2 January 2007)

http://www.spectrezine.org/EconomySociety/Stiglitz.htm

(Added: Fri Feb 02 2007   Hits: 221)

The Global Benefits and Losses from the U.S. Recession and Recovery Package

Until 2007, many people had believed that global economic growth, led by the U.S., could continue unabated for the foreseeable future. Mainstream commentators based their optimism on greater global economic integration and the adoption of market-driven patterns of development. They seemed little concerned that global current-account imbalances, especially the U.S. deficit, would remain huge.

http://www.soas.ac.uk/cdpr/publications/dv/43782.pdf

(Added: Mon May 26 2008   Hits: 13)

The Global Governance of Trade as if Development Really Mattered [PDF]

It is widely accepted, not least in the agreement establishing the WTO itself, that the purpose of the world trade regime is to raise living standards all around the world--rather than to maximize trade per se. In practice, however, these two goals--promoting development and maximizing trade--have come to be increasingly viewed as synonymous by the WTO and multilateral lending agencies, to the point where the latter easily substitutes for the former. Which is somewhat surprising because evidence that trade liberalisation inevitably leads to economic growth is thin on the ground. In this paper fro the UNDP, Harvard economist Dani Rodrik attempts to envisage an alternative: the type of global trade regime that would exist if policy makers were to ask "how do we enable countries to grow out of poverty?" rather than "how do we maximize trade and market access?"

http://ksghome.harvard.edu/~drodrik/UNDPtrade.PDF

(Added: Fri Mar 31 2006   Hits: 374)

The Growth-Poverty Nexus in Tanzania: From a Developmental Perspective

This paper will be useful to those who would like to gain an overview of the issue of growth and poverty for a developing country. Special Paper 08.27 by Prof. Marc Wuyts presents the conceptual framework for REPOA's research programme on growth and poverty, explaining the underlying rationale and agenda (REPOA, 2008).

http://www.repoa.or.tz/documents_storage/Special%20Paper%20No.%2008.27.pdf

(Added: Fri Jun 13 2008   Modified: Tue Jun 17 2008   Hits: 3)

The Happy Planet Index: An Index of Human Well-Being and Environmental Impact

The Happy Planet Index (HPI) seeks to measure the ecological efficiency with which human well-being is delivered. It compares countries based on three different indicators: life expectancy; ecological footprint; and people's subjective well-being or "life satisfaction". In putting forward the HPI as an alternative measure of success, this report argues for greater attention to environmental and quality of life consequences of government policies. (New Economics Foundation - NEF, 2006)

http://www.neweconomics.org/gen/uploads/dl44k145g5scuy453044gqbu11072006194758.pdf

(Added: Mon Aug 28 2006   Hits: 191)

The Hijacking of the Development Debate - How Friedman and Sachs Got It Wrong

Just a half decade after protests by citizen groups in Latin America and elsewhere discredited two decades of market-oriented neoliberal dogma, Friedman and Sachs have narrowed the debate with simplistic slogans of "more aid" and "more trade." They have done so by putting forward myths about the poor, economic development, and the global economy. (Robin Broad and John Cavanagh, World Policy Journal, 1 August 2006)

http://www.fntg.org/fntg/docs/Broad:Cavanagh.pdf

(Added: Wed Feb 14 2007   Hits: 105)

The Least Developed Countries Report 2006

Aid money and trade policies from foreign governments have created uneven and fragile growth in the world's 50 least developed countries (LDCs). Instead, job creation and full use of resources, and utilising regional trade and manufacturing, are key to reducing poverty and delivering long-term, stable growth. (United Nations Conference on Trade and Development, July 2006)

http://www.unctad.org/Templates/webflyer.asp?docid=7011&intItemID=3881&lang=1&mode=toc

(Added: Mon Jul 24 2006   Hits: 432)

The Least Developed Countries Report 2007

This report tries to promote a progressive transition in which sustained and accelerated economic growth is achieved through the development of productive capacities, and that with the associated expansion of productive employment opportunities, there will be substantial poverty reduction. It focuses on how LDC Governments and their development partners can promote technological progress in LDCs as part of their efforts to develop domestic productive capacities (UNCTAD, 2007).

http://www.unctad.org/en/docs/ldc2007overview_en.pdf

(Added: Mon Oct 15 2007   Hits: 214)

The Myth Of Catch-Up Development

By C. Douglas Lummis Panos January 1, 2000 By investing in developing countries, and by offering them technical and economic aid, they would be enabled to advance toward "ultimate prosperity." Despite its manifest implausibility, the idea has dominated thinking about international economics for half a century.

http://www.globalpolicy.org/socecon/develop/2000/0101myth.htm

(Added: Fri Jun 23 2000   Modified: Wed Jun 15 2005   Hits: 256)

The Primacy of Institutions (and what this does and does not mean) [PDF - 102 KB]

Explaining the huge difference in average incomes between the world's richest and poorest nations is one of the most fundamental issues in development economics. How did this vast gulf emerge, and can anything be one to reduce it? This non-technical paper by Harvard economist Dani Rodrik argues the case for one of the two leading contemporary 'schools of thought' in mainstream development economics: institutions. Proponents of 'institutions theory' argue that the quality of institutions is key in determining economic growth. This paper forms part of a series published in Financing and Development on the issue.

http://www.imf.org/external/pubs/ft/fandd/2003/06/pdf/rodrik.pdf

(Added: Fri Jan 27 2006   Hits: 57)

The Uses of Chile: How Politics Trumped Truth in the Neo-Liberal Revision of Chile's Development

In response to the electoral successes of progressive Latin American governments, neo-liberalism's defenders are attacking their policy initiatives by pointing repeatedly to Chile's economic "success" - namely decades of steady per capita growth rates that they attribute to Chile's strict adherence to the neo-liberal model. This paper argues that looking at the policies actually implemented by Chile during the recent decades of growth reveals that Chile is far from being a model of successful neo-liberal policies. The paper concludes that many of the neo-liberal policies that the Chilean government did adopt have caused economic harm or have not helped needy sectors of society and the environment, while much of Chile's success in terms of per capita income and export growth can be attributed to the successful use of non-neo-liberal policies. (Public Citizen, September 2006)

http://www.citizen.org/publications/release.cfm?ID=7460

(Added: Mon Oct 16 2006   Hits: 86)

The Vulnerable Economic Mainstream: Joseph Stiglitz and the Critique of Free Market Analysis

Stiglitz's speech when he accepted the Nobel Priza in 2001 proved to be a singular and remarkable event in which he effected the internment of the formidable myth of "free enterprise", in quiet and reflective tones, a marked contrast with the shrill decibels of the defenders of this defunct idea. Yet why is he ignored? Because, this essay argues, the profession and its many business and Western government clients cannot accept the implication of his theories. (Gerald Houseman, Challenge, March/April 2006)

http://www2.gsb.columbia.edu/faculty/jstiglitz/download/2006_Challenge.pdf

(Added: Thu Nov 02 2006   Hits: 60)

Thinking Outside the Box about Trade, Development, and Poverty Reduction

Mainstream policy economics has been gradually lowering its claims about the positive impact of trade on development and poverty reduction. The new approach is a compassionate agenda that says if trade liberalization is to reduce poverty, it must be flanked by public investment in infrastructure and human capital. However, this new agenda raises numerous questions about how to finance public investments, whether these investments should be sequenced in advance of liberalization, and whether trade liberalization is desirable if the investments are not made. Most importantly, the new agenda still does not address the systemic critique that trade liberalization hinders development by eliminating important policy tools. This policy paper proposes an alternative framework for thinking about trade, development, and poverty reduction. That framework emphasizes domestic commerce promotion and strategic value-chain analysis that focuses on how developing countries can capture more of the value they create. The paper also argues for incremental policy change rather than grand liberalizations. In a world of uncertainty, optimal decision theory advises "Go slow if you don't know." Finally, the paper proposes a tropical-products trade round that can produce a win-win outcome for both North and South.

http://www.fpif.org/fpiftxt/3050

(Added: Wed Feb 01 2006   Modified: Thu Jun 08 2006   Hits: 115)

Third World Quarterly

A leading journal of scholarship and policy in the field of international studies. Third World Quarterly examines the issues that affect the many Third Worlds. TWQ provides an alternative and over-arching reflective analysis of micro-economic and grass-root efforts of development practitioners and planners. TWQ links the academic terrains of the various contemporary area studies - Africa, Asia, Latin American and the Middle East.

http://www.tandf.co.uk/journals/carfax/01436597.html

(Added: Tue May 15 2001   Modified: Tue Jun 06 2006   Hits: 242)

True Cost Economics

This campaign is a fight to revolutionize economics before our planet is destroyed. A new economic paradigm - one that is open, holistic, and human scale - requires a change in thinking. The economic revolution begins with the demand that universities teach economics that incorporates ethics. At this website you can learn more, sign the True Cost Economics manifesto, and get information on how to introduce its elements into your university.

http://adbusters.org/metas/eco/truecosteconomics/

(Added: Wed Jun 14 2006   Modified: Mon Jun 19 2006   Hits: 319)

UICIFD E-book on International Finance and Development

Written by Professor Carrasco and his students, the E-Book provides basic and accessible discussion of key concepts relating to international finance and development. Coverage includes the roles of the IMF and the World Bank in a globalized economy as well as the Mexican and Asian financial crises. Bibliographies are included. This electronic handbook, or "e-book," will help you understand how major flows of money throughout the world (frequently called "international capital") affect your daily life and the lives of people and communities throughout the world. The price you pay for your food or clothes, the costs of a bus or train ride, the amount of money you need to fill the fuel tank of your truck or your automobile, the construction of homes, offices, and other buildings in your town or city, the security of your job or business, the ownership and operation of the banks or finance companies in your locality, the activity of your country's stock markets and the nature of your legal system--all of these vital aspects of your life are tied to, and influenced by, flows of capital originating in other parts of the world.

http://www.uiowa.edu/ifdebook/ebook2/intro/intro_symp.shtml

(Added: Thu Aug 21 2003   Modified: Mon Dec 04 2006   Hits: 191)

Unveiling Protectionism: Regional Responses to Remaining Barriers in the Textiles and Clothing Trade

This ESCAP volume is the collection of papers and country reports that resulted from a project entitled "Weaving the Fabric of Regional Cooperation for Competitive Garment Exports: A Post-Quota Trading Environment (Phase 2). Part One includes seven chapters covering complex issues of post-quota trade and production adjustments in the world and the region, including the large exporters such as China and India and the role of trade facilitation. Efforts were made to provide current information on remaining protectionism in textile and clothing trade in both developed and developing markets. Countries covered through reports in Part Two are Bangladesh, China, Indonesia, Kazakhstan, Mongolia, Myanmar, Nepal and Thailand.

http://www.unescap.org/tid/publication/tipub2500.asp

(Added: Thu Jul 10 2008   Hits: 6)

Why Developing Countries Need Tariffs? How WTO NAMA Negotiations Could Deny Developing Countries' Right to a Future

In this 2005 paper, Ha-Joon Chang suggests that the NAMA negotiations are heading towards a development disaster. If the developed countries have their way and force the developing countries to massively cut (or even altogether eliminate) industrial tariffs on a line-by-line basis, the future prospect of industrial development, and therefore economic development, in today's developing countries is bleak. Chang points to historical and contemporary evidence that shows that it is extremely difficult, if not totally impossible, for technologically backward countries to develop without trade protection and subsidies.

http://mail.dev-zone.org/squirrelmail/src/webmail.php/

(Added: Mon Nov 21 2005   Modified: Tue May 02 2006   Hits: 56)

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