Albert O. Hirschman
- Published in print:
- 2013
- Published Online:
- October 2017
- ISBN:
- 9780691159904
- eISBN:
- 9781400848409
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691159904.003.0003
- Subject:
- Sociology, Social Theory
This chapter showcases an essay written in honor of William Arthur Lewis, whose ideas on economics were in counterpoint to Hirschman's. Lewis was a champion of more balanced growth; Hirschman favored ...
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This chapter showcases an essay written in honor of William Arthur Lewis, whose ideas on economics were in counterpoint to Hirschman's. Lewis was a champion of more balanced growth; Hirschman favored disequilibrium. Lewis' winning the Nobel Prize for economics, among other things, had only exacerbated Hirschman's concerns that the field was growing stale. Thus, this chapter takes stock of the field of development economics and advocates an approach premised on the idea that peoples of the Third World can chart their own futures, and did, despite the long-standing convictions of development economics that only outside forces and expertise could shake them from their lot.Less
This chapter showcases an essay written in honor of William Arthur Lewis, whose ideas on economics were in counterpoint to Hirschman's. Lewis was a champion of more balanced growth; Hirschman favored disequilibrium. Lewis' winning the Nobel Prize for economics, among other things, had only exacerbated Hirschman's concerns that the field was growing stale. Thus, this chapter takes stock of the field of development economics and advocates an approach premised on the idea that peoples of the Third World can chart their own futures, and did, despite the long-standing convictions of development economics that only outside forces and expertise could shake them from their lot.
Philippe Aghion and Beatriz Armendáriz de Aghion
- Published in print:
- 2006
- Published Online:
- September 2006
- ISBN:
- 9780195305197
- eISBN:
- 9780199783519
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195305191.003.0005
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This essay attempts to break the divide between growth and development economics. Using the example of India over the past decades, it argues that innovation and/or productivity growth have been main ...
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This essay attempts to break the divide between growth and development economics. Using the example of India over the past decades, it argues that innovation and/or productivity growth have been main engines of poverty reduction in that country. It also argues that new growth theories can shed light on this process and explain why growth and poverty reduction have not occurred in Latin America. The remainder of this essay is organized as follows. The second section summarizes what is currently known about the evolution of growth and poverty indicators in India since the 1960s. The third section provides a very brief presentation of new growth theory and of some of its main predictions. The fourth section uses the description of new growth theory to analyze the reform process in India. The fifth section shows that the 1991 reforms had unequalizing effects on productivity and profitability across industries and states. Finally, it reflects upon the contrasting experiences of Asia and Latin America with regard to productivity growth and poverty alleviation.Less
This essay attempts to break the divide between growth and development economics. Using the example of India over the past decades, it argues that innovation and/or productivity growth have been main engines of poverty reduction in that country. It also argues that new growth theories can shed light on this process and explain why growth and poverty reduction have not occurred in Latin America. The remainder of this essay is organized as follows. The second section summarizes what is currently known about the evolution of growth and poverty indicators in India since the 1960s. The third section provides a very brief presentation of new growth theory and of some of its main predictions. The fourth section uses the description of new growth theory to analyze the reform process in India. The fifth section shows that the 1991 reforms had unequalizing effects on productivity and profitability across industries and states. Finally, it reflects upon the contrasting experiences of Asia and Latin America with regard to productivity growth and poverty alleviation.
A. B. Atkinson (ed.)
- Published in print:
- 2004
- Published Online:
- January 2005
- ISBN:
- 9780199278558
- eISBN:
- 9780191601590
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199278555.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
As their Millennium Development Goals, world leaders have pledged by 2015 to halve the number of people living in extreme poverty and hunger, to achieve universal primary education, to reduce child ...
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As their Millennium Development Goals, world leaders have pledged by 2015 to halve the number of people living in extreme poverty and hunger, to achieve universal primary education, to reduce child mortality, to halt the spread of HIV/AIDS, and to halve the number of people without safe drinking water. Achieving these goals requires a large increase in the flow of financial resources to developing countries – double the present development assistance from abroad. In examining innovative ways to secure these resources, this book, which is part of the UNU–WIDER Studies in Development Economics series, sets out a framework for the economic analysis of different sources of funding and applying the tools of modern public economics to identify the key issues. It examines the role of new sources of overseas aid, considers the fiscal architecture and the lessons that can be learned from federal fiscal systems, asks how far increased transfers impose a burden on donors, and investigates how far the raising of resources can be separated from their use. In turn, the book examines global environmental taxes (such as a carbon tax), the taxation of currency transactions (the Tobin tax), a development‐focused allocation of Special Drawing Rights by the International Monetary Fund (IMF), the UK Government proposal for an International Finance Facility, increased private donations for development purposes, a global lottery (or premium bond), and increased remittances by emigrants. In each case, it considers the feasibility of the proposal and the resources that it can realistically raise, and offers new perspectives and insights into these new and controversial proposals.Less
As their Millennium Development Goals, world leaders have pledged by 2015 to halve the number of people living in extreme poverty and hunger, to achieve universal primary education, to reduce child mortality, to halt the spread of HIV/AIDS, and to halve the number of people without safe drinking water. Achieving these goals requires a large increase in the flow of financial resources to developing countries – double the present development assistance from abroad. In examining innovative ways to secure these resources, this book, which is part of the UNU–WIDER Studies in Development Economics series, sets out a framework for the economic analysis of different sources of funding and applying the tools of modern public economics to identify the key issues. It examines the role of new sources of overseas aid, considers the fiscal architecture and the lessons that can be learned from federal fiscal systems, asks how far increased transfers impose a burden on donors, and investigates how far the raising of resources can be separated from their use. In turn, the book examines global environmental taxes (such as a carbon tax), the taxation of currency transactions (the Tobin tax), a development‐focused allocation of Special Drawing Rights by the International Monetary Fund (IMF), the UK Government proposal for an International Finance Facility, increased private donations for development purposes, a global lottery (or premium bond), and increased remittances by emigrants. In each case, it considers the feasibility of the proposal and the resources that it can realistically raise, and offers new perspectives and insights into these new and controversial proposals.
Sendhil Mullainathan
- Published in print:
- 2006
- Published Online:
- September 2006
- ISBN:
- 9780195305197
- eISBN:
- 9780199783519
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195305191.003.0025
- Subject:
- Economics and Finance, Development, Growth, and Environmental
A growing number of researchers are studying how to integrate psychological insights into economic reasoning. In this perspective, people sometimes make bad choices, ones that they themselves would ...
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A growing number of researchers are studying how to integrate psychological insights into economic reasoning. In this perspective, people sometimes make bad choices, ones that they themselves would like to improve on. This perspective is opening up new ideas, such as how good institutions might help people improve their decisions. This essay discusses these insights using a few choice examples. The goal is to provide a glimpse of how radically different policy suggestions might be in 10 or 20 years as the integration of psychology and economics deepens.Less
A growing number of researchers are studying how to integrate psychological insights into economic reasoning. In this perspective, people sometimes make bad choices, ones that they themselves would like to improve on. This perspective is opening up new ideas, such as how good institutions might help people improve their decisions. This essay discusses these insights using a few choice examples. The goal is to provide a glimpse of how radically different policy suggestions might be in 10 or 20 years as the integration of psychology and economics deepens.
T.N. Srinivasan (ed.)
- Published in print:
- 2011
- Published Online:
- September 2012
- ISBN:
- 9780198076384
- eISBN:
- 9780199080854
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198076384.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This book examines the origins, rationale, and outcomes of India's economic reforms in the context of changes in the economy, polity, and society. Looking at India's development experience across ...
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This book examines the origins, rationale, and outcomes of India's economic reforms in the context of changes in the economy, polity, and society. Looking at India's development experience across time, the book provides a comprehensive review of policies and performance of the economy since independence; a comparative analysis of the Indian experience with that of China as well as low-income countries; and an understanding of the recent global financial crisis vis-à-vis its implications for growth, sustainability, and the necessity of further reforms. Emphasizing the intrinsic goal of India's development — eradication of mass poverty — this book highlights future challenges and suggests appropriate policies.Less
This book examines the origins, rationale, and outcomes of India's economic reforms in the context of changes in the economy, polity, and society. Looking at India's development experience across time, the book provides a comprehensive review of policies and performance of the economy since independence; a comparative analysis of the Indian experience with that of China as well as low-income countries; and an understanding of the recent global financial crisis vis-à-vis its implications for growth, sustainability, and the necessity of further reforms. Emphasizing the intrinsic goal of India's development — eradication of mass poverty — this book highlights future challenges and suggests appropriate policies.
Partha Dasgupta and Karl-Göran Mäler (eds)
- Published in print:
- 2000
- Published Online:
- September 2007
- ISBN:
- 9780199240708
- eISBN:
- 9780191718106
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199240708.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This text is the second of two volumes. Two and a half billion people are affected directly on a day-to-day basis by the allocation and use of local resources. Yet ‘official’ development economics ...
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This text is the second of two volumes. Two and a half billion people are affected directly on a day-to-day basis by the allocation and use of local resources. Yet ‘official’ development economics has concentrated on headline international issues and only recently begun to take account of the dependence of poor countries on their natural resources; the link between acute poverty and environmental degradation; and the problems associated with the management of local common property such as soil and soil cover, water, forests and their products, animals, and fisheries. The chapters cover emerging development issues, ranging from foundational matters to case studies. They address both analytic and empirical issues on the role of environmental resources in the development process, presenting explanations of existing situations and policies for the future.Less
This text is the second of two volumes. Two and a half billion people are affected directly on a day-to-day basis by the allocation and use of local resources. Yet ‘official’ development economics has concentrated on headline international issues and only recently begun to take account of the dependence of poor countries on their natural resources; the link between acute poverty and environmental degradation; and the problems associated with the management of local common property such as soil and soil cover, water, forests and their products, animals, and fisheries. The chapters cover emerging development issues, ranging from foundational matters to case studies. They address both analytic and empirical issues on the role of environmental resources in the development process, presenting explanations of existing situations and policies for the future.
Partha Dasgupta
- Published in print:
- 1995
- Published Online:
- November 2003
- ISBN:
- 9780198288350
- eISBN:
- 9780191596094
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198288352.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This book deals comprehensively with the problem of poverty and undernourishment, and addresses the debate over methods of estimating their incidence. It is an analytical and empirical inquiry into ...
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This book deals comprehensively with the problem of poverty and undernourishment, and addresses the debate over methods of estimating their incidence. It is an analytical and empirical inquiry into human well‐being and the phenomenon of destitution as it occurs among rural populations of the poor countries of Asia, Africa, and Latin America. A central concern has been to reconcile theoretical considerations with empirical work in several disciplines—anthropology, demography, ecology, economics, epidemiology, geography, moral and political philosophy, and the environmental, nutrition, and political sciences. The discussion aims to provide a political philosophy for human well‐being that can guide public policy in poor countries. Thus, the role of the state, communities, households, and individuals is studied in detail. The book is arranged in four parts: I, Well‐being: theory and realization; II, Allocation of resources among households: the standard theory; III, The household and its setting: extensions of the standard theory; and IV, Undernourishment and destitution. It is suitable for general readers interested in applied political and moral philosophy, for social scientists (especially academics in the fields of development and welfare economics, general economic theory, and anthropology), and for nutrition scientists, policy makers, commentators, and research staff.Less
This book deals comprehensively with the problem of poverty and undernourishment, and addresses the debate over methods of estimating their incidence. It is an analytical and empirical inquiry into human well‐being and the phenomenon of destitution as it occurs among rural populations of the poor countries of Asia, Africa, and Latin America. A central concern has been to reconcile theoretical considerations with empirical work in several disciplines—anthropology, demography, ecology, economics, epidemiology, geography, moral and political philosophy, and the environmental, nutrition, and political sciences. The discussion aims to provide a political philosophy for human well‐being that can guide public policy in poor countries. Thus, the role of the state, communities, households, and individuals is studied in detail. The book is arranged in four parts: I, Well‐being: theory and realization; II, Allocation of resources among households: the standard theory; III, The household and its setting: extensions of the standard theory; and IV, Undernourishment and destitution. It is suitable for general readers interested in applied political and moral philosophy, for social scientists (especially academics in the fields of development and welfare economics, general economic theory, and anthropology), and for nutrition scientists, policy makers, commentators, and research staff.
Partha Dasgupta and Karl-Göran Mäler (eds)
- Published in print:
- 2000
- Published Online:
- September 2007
- ISBN:
- 9780199240692
- eISBN:
- 9780191714269
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199240692.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This text is the first of two volumes. Two and a half billion people are affected directly on a day-to-day basis by the allocation and use of local resources. Yet ‘official’ development economics has ...
More
This text is the first of two volumes. Two and a half billion people are affected directly on a day-to-day basis by the allocation and use of local resources. Yet ‘official’ development economics has concentrated on headline international issues and only recently begun to take account of the dependence of poor countries on their natural resources, the link between acute poverty and environmental degradation, and the problems associated with the management of local common property such as soil and soil cover, water, forests and their products, animals, and fisheries. The chapters cover emerging development issues, ranging from foundational matters to case studies. They address both analytic and empirical issues on the role of environmental resources in the development process, presenting explanations of existing situations and policies for the future.Less
This text is the first of two volumes. Two and a half billion people are affected directly on a day-to-day basis by the allocation and use of local resources. Yet ‘official’ development economics has concentrated on headline international issues and only recently begun to take account of the dependence of poor countries on their natural resources, the link between acute poverty and environmental degradation, and the problems associated with the management of local common property such as soil and soil cover, water, forests and their products, animals, and fisheries. The chapters cover emerging development issues, ranging from foundational matters to case studies. They address both analytic and empirical issues on the role of environmental resources in the development process, presenting explanations of existing situations and policies for the future.
Martha C. Nussbaum and Jonathan Glover (eds)
- Published in print:
- 1995
- Published Online:
- November 2003
- ISBN:
- 9780198289647
- eISBN:
- 9780191596698
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198289642.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This volume, which grows out of The Quality of Life (eds. Martha Nussbaum and Amartya Sen, 1993), combines philosophical inquiry with economic concerns regarding women's equality in the developing ...
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This volume, which grows out of The Quality of Life (eds. Martha Nussbaum and Amartya Sen, 1993), combines philosophical inquiry with economic concerns regarding women's equality in the developing world. Adopting Amartya Sen's capability framework, international contributors tackle issues of cultural relativism vs. cultural imperialism on the one hand, and questions of local traditions vs. universalist critical judgement on the other. The chief aim of this work is to critically explore the relationship between culture and justice as pertinent to women's development, with special attention paid to cultural sensitivity but without compromising the clarity of rational judgement in cases where women's capabilities are at stake. Building upon the practical and philosophical implications of the lived experience of women from a variety of cultures, the authors theorize the pragmatics of economic development beyond utility towards a vision of gender equality. This book is a must‐read for anyone interested in the ethics of women's economic development.Less
This volume, which grows out of The Quality of Life (eds. Martha Nussbaum and Amartya Sen, 1993), combines philosophical inquiry with economic concerns regarding women's equality in the developing world. Adopting Amartya Sen's capability framework, international contributors tackle issues of cultural relativism vs. cultural imperialism on the one hand, and questions of local traditions vs. universalist critical judgement on the other. The chief aim of this work is to critically explore the relationship between culture and justice as pertinent to women's development, with special attention paid to cultural sensitivity but without compromising the clarity of rational judgement in cases where women's capabilities are at stake. Building upon the practical and philosophical implications of the lived experience of women from a variety of cultures, the authors theorize the pragmatics of economic development beyond utility towards a vision of gender equality. This book is a must‐read for anyone interested in the ethics of women's economic development.
Pranab Bardhan and Christopher Udry
- Published in print:
- 1999
- Published Online:
- November 2003
- ISBN:
- 9780198773719
- eISBN:
- 9780191595929
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198773714.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Development Microeconomics looks at a broad spectrum of topics in development economics, combining the strength of conventional developmental thought with the insights of contemporary ...
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Development Microeconomics looks at a broad spectrum of topics in development economics, combining the strength of conventional developmental thought with the insights of contemporary mainstream economics. This book intends to provide illustrations of microeconomic analyses of economic development by utilizing simple, theoretical, micro models of some of the key economic issues in poor countries. In particular, it draws upon the breakthrough in economic theory that has taken the form of an explicit treatment of information, including information in the sense of human capital and technical knowledge. Much of the analysis in this book applies the theory of asymmetric information and in the process helps explain why perfect competition models are inadequate when dealing with developing economies. Several of the chapters thus explore issues of information‐based market failures and fragmentation, incomplete and imperfect markets, dynamic externalities, multiple equilibria, and self‐reinforcing mechanisms that cause dysfunctional institutions to persist. The authors stress the necessity of balance when looking at some of the classic developmental questions—the importance of both the individual as economic agent and of cultural norms in socio‐economic interactions, the dual relationship between equity and efficiency, the importance of market rivalry, and the potential for information‐based market breakdown and coordination failure. There is also a focus on the rural and the agrarian, with chapters on rural land and labour markets, and on rural credit and insurance institutions. There are also chapters on household economics, demography, and on migration in which behavioral assumptions play a central role. Other issues studied include the environment, trade, the dual economy, intersectoral complementarities, and institutional economics.Less
Development Microeconomics looks at a broad spectrum of topics in development economics, combining the strength of conventional developmental thought with the insights of contemporary mainstream economics. This book intends to provide illustrations of microeconomic analyses of economic development by utilizing simple, theoretical, micro models of some of the key economic issues in poor countries. In particular, it draws upon the breakthrough in economic theory that has taken the form of an explicit treatment of information, including information in the sense of human capital and technical knowledge. Much of the analysis in this book applies the theory of asymmetric information and in the process helps explain why perfect competition models are inadequate when dealing with developing economies. Several of the chapters thus explore issues of information‐based market failures and fragmentation, incomplete and imperfect markets, dynamic externalities, multiple equilibria, and self‐reinforcing mechanisms that cause dysfunctional institutions to persist. The authors stress the necessity of balance when looking at some of the classic developmental questions—the importance of both the individual as economic agent and of cultural norms in socio‐economic interactions, the dual relationship between equity and efficiency, the importance of market rivalry, and the potential for information‐based market breakdown and coordination failure. There is also a focus on the rural and the agrarian, with chapters on rural land and labour markets, and on rural credit and insurance institutions. There are also chapters on household economics, demography, and on migration in which behavioral assumptions play a central role. Other issues studied include the environment, trade, the dual economy, intersectoral complementarities, and institutional economics.
Harold James
- Published in print:
- 2009
- Published Online:
- September 2009
- ISBN:
- 9780199239863
- eISBN:
- 9780191716805
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199239863.003.0002
- Subject:
- Economics and Finance, Financial Economics, Development, Growth, and Environmental
This chapter examines the evolution since the Bretton Woods conference of the IMF's approach to problems of low income countries. In particular, it seeks to locate that approach within the debate ...
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This chapter examines the evolution since the Bretton Woods conference of the IMF's approach to problems of low income countries. In particular, it seeks to locate that approach within the debate among economists about whether there is a special ‘development economics’. In that context, it examines the IMF's approaches to inflation, the ‘twin gaps’, fiscal issues, external debt issues, and exchange rate policy choice.Less
This chapter examines the evolution since the Bretton Woods conference of the IMF's approach to problems of low income countries. In particular, it seeks to locate that approach within the debate among economists about whether there is a special ‘development economics’. In that context, it examines the IMF's approaches to inflation, the ‘twin gaps’, fiscal issues, external debt issues, and exchange rate policy choice.
Raaj K. Sah and Joseph E. Stiglitz
- Published in print:
- 2002
- Published Online:
- January 2005
- ISBN:
- 9780199253579
- eISBN:
- 9780191601682
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199253579.003.0003
- Subject:
- Economics and Finance, Development, Growth, and Environmental
One of the contributions of this book is to use and develop the principles of modern public finance for the analysis of LDCs (less developed countries). This is done by borrowing from two ...
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One of the contributions of this book is to use and develop the principles of modern public finance for the analysis of LDCs (less developed countries). This is done by borrowing from two intellectual traditions: that relating to public finance, and that relating to development economics. This chapter briefly reviews the four major strands in public finance literature that form the background to the study. These are: general-equilibrium analysis; Pigouvian welfare economics and optimal taxation; the New Welfare Economics (which says that interpersonal utility comparisons are not meaningful, so the utilitarian approach to adding up utilities is nonsense, and one allocation can only be said to be better than another when the first was a Pareto-improvement over the second); and the New New Welfare Economics, which borrows from the previous three strands, and seeks to analyse the scope of available tax instruments, and to take into account and explain market imperfections. This last approach is the one mainly used in the book to approach applied welfare economics for LDCs; various aspects of the approach are discussed.Less
One of the contributions of this book is to use and develop the principles of modern public finance for the analysis of LDCs (less developed countries). This is done by borrowing from two intellectual traditions: that relating to public finance, and that relating to development economics. This chapter briefly reviews the four major strands in public finance literature that form the background to the study. These are: general-equilibrium analysis; Pigouvian welfare economics and optimal taxation; the New Welfare Economics (which says that interpersonal utility comparisons are not meaningful, so the utilitarian approach to adding up utilities is nonsense, and one allocation can only be said to be better than another when the first was a Pareto-improvement over the second); and the New New Welfare Economics, which borrows from the previous three strands, and seeks to analyse the scope of available tax instruments, and to take into account and explain market imperfections. This last approach is the one mainly used in the book to approach applied welfare economics for LDCs; various aspects of the approach are discussed.
Sonia E. Rolland
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780199600885
- eISBN:
- 9780191738364
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199600885.003.0002
- Subject:
- Law, Public International Law, Human Rights and Immigration
Despite its ubiquitous use in the international legal discourse, the precise meaning of “development” is elusive and has evolved over time. The purpose of this brief theoretical survey is to ...
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Despite its ubiquitous use in the international legal discourse, the precise meaning of “development” is elusive and has evolved over time. The purpose of this brief theoretical survey is to understand the influences that have driven normative, regulatory and institutional evolutions in the trade and development relationship. At one end of the spectrum, development has been largely equated with GDP growth; this macro-economic perspective has fuelled much of the Washington Consensus and the international organizations associated with it. At the other end of the spectrum, development is seen primarily as a human rights issue. In practice, the evolving blend of development economics and rights-based approaches has changed what we understand to be the substance of development in international and trade law.Less
Despite its ubiquitous use in the international legal discourse, the precise meaning of “development” is elusive and has evolved over time. The purpose of this brief theoretical survey is to understand the influences that have driven normative, regulatory and institutional evolutions in the trade and development relationship. At one end of the spectrum, development has been largely equated with GDP growth; this macro-economic perspective has fuelled much of the Washington Consensus and the international organizations associated with it. At the other end of the spectrum, development is seen primarily as a human rights issue. In practice, the evolving blend of development economics and rights-based approaches has changed what we understand to be the substance of development in international and trade law.
Ioannis Lianos, Abel Mateus, and Azza Raslan
- Published in print:
- 2013
- Published Online:
- January 2014
- ISBN:
- 9780804785716
- eISBN:
- 9780804787925
- Item type:
- chapter
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9780804785716.003.0003
- Subject:
- Law, Competition Law
The chapter aims to contribute to the cross-fertilization of the fields of competition economics and development economics. Our narrative focuses on the opposition between the dominant intellectual ...
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The chapter aims to contribute to the cross-fertilization of the fields of competition economics and development economics. Our narrative focuses on the opposition between the dominant intellectual tradition in development economics (which emphasizes the role of state intervention through the establishment of protectionist barriers and monopolies at the expense of markets and free competition) and the competition economics tradition (which rests on the belief in the superior efficiency of free competition). The chapter explains why the recent evolution of both traditions toward the analysis of the micro-foundations of growth, the focus on institutions, and the emphasis on empirical methods might lead to a new synthesis, favoring a useful cross-fertilization between competition economics and development economics.Less
The chapter aims to contribute to the cross-fertilization of the fields of competition economics and development economics. Our narrative focuses on the opposition between the dominant intellectual tradition in development economics (which emphasizes the role of state intervention through the establishment of protectionist barriers and monopolies at the expense of markets and free competition) and the competition economics tradition (which rests on the belief in the superior efficiency of free competition). The chapter explains why the recent evolution of both traditions toward the analysis of the micro-foundations of growth, the focus on institutions, and the emphasis on empirical methods might lead to a new synthesis, favoring a useful cross-fertilization between competition economics and development economics.
Ramprasad Sengupta
- Published in print:
- 2013
- Published Online:
- May 2013
- ISBN:
- 9780198081654
- eISBN:
- 9780199082407
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198081654.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
The book has a comprehensive coverage of issues relating to the role of ecological constraints in limiting the availability of natural resources and eco-services for economic development and ...
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The book has a comprehensive coverage of issues relating to the role of ecological constraints in limiting the availability of natural resources and eco-services for economic development and resulting often in environmental degradation. It explains how the interactive relationship between the human economy and the natural environment as determined by the laws of entropy and material balances sets these ecological limits and also shows how the development of technology, policies and institutions can relax these constraints creating space for development ensuring equitable sharing of its benefit both within and across generations. Methodologically the book emphasizes the importance of integration of the concerned ecological factors into primarily economic models of development and points out how the framework and the methodological approach of neoclassical economics are amenable to appropriate modifications required for addressing such issues. It articulates the theoretical concept of sustainable economic development and elaborates its implications in the applied context of development of sustainable macroeconomic and resource accounting. Regarding the issues of concrete developmental challenges the book analyses in details the interactive dynamics of population, economic growth, distribution and use of the whole range of major natural resources – land and soil, water, forests, bio-diversity, energy, non-energy material resources, eco-capacity of waste absorption including the related problem of climate change - with special reference to the Indian situation. The comprehensive coverage of issues, the rich data base and information and the perspectives of its discussions make the book unique for understanding the prospect of sustainable or green economic development of India.Less
The book has a comprehensive coverage of issues relating to the role of ecological constraints in limiting the availability of natural resources and eco-services for economic development and resulting often in environmental degradation. It explains how the interactive relationship between the human economy and the natural environment as determined by the laws of entropy and material balances sets these ecological limits and also shows how the development of technology, policies and institutions can relax these constraints creating space for development ensuring equitable sharing of its benefit both within and across generations. Methodologically the book emphasizes the importance of integration of the concerned ecological factors into primarily economic models of development and points out how the framework and the methodological approach of neoclassical economics are amenable to appropriate modifications required for addressing such issues. It articulates the theoretical concept of sustainable economic development and elaborates its implications in the applied context of development of sustainable macroeconomic and resource accounting. Regarding the issues of concrete developmental challenges the book analyses in details the interactive dynamics of population, economic growth, distribution and use of the whole range of major natural resources – land and soil, water, forests, bio-diversity, energy, non-energy material resources, eco-capacity of waste absorption including the related problem of climate change - with special reference to the Indian situation. The comprehensive coverage of issues, the rich data base and information and the perspectives of its discussions make the book unique for understanding the prospect of sustainable or green economic development of India.
Partha Dasgupta, Karl-Göran Mäler, and Alessandro Vercelli (eds)
- Published in print:
- 1997
- Published Online:
- October 2011
- ISBN:
- 9780198292203
- eISBN:
- 9780191684883
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198292203.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Transnational commons, cross-border areas without well-defined property rights, have long been ignored in ‘official’ development economics. This volume redresses the balance by adopting an ...
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Transnational commons, cross-border areas without well-defined property rights, have long been ignored in ‘official’ development economics. This volume redresses the balance by adopting an environmental approach, which stresses the importance of shared natural resources and the links between acute poverty and environmental degradation. This book draws together contributors from fields as diverse as law, population studies, social anthropology, biological sciences, and economics, to present authoritative accounts that combine empirical case studies with rigorous theoretical foundations. Despite the multi-disciplinary approach, the main focus of the chapters is the same: that the reciprocal externalities and problems of free-riding created by any common resource are complicated in the case of transnational commons by difficulties in monitoring, enforcement, and unequal access to information. Often using theories of negotiation taken from game theory, the studies then suggest possible solutions, both at an institutional and educational level.Less
Transnational commons, cross-border areas without well-defined property rights, have long been ignored in ‘official’ development economics. This volume redresses the balance by adopting an environmental approach, which stresses the importance of shared natural resources and the links between acute poverty and environmental degradation. This book draws together contributors from fields as diverse as law, population studies, social anthropology, biological sciences, and economics, to present authoritative accounts that combine empirical case studies with rigorous theoretical foundations. Despite the multi-disciplinary approach, the main focus of the chapters is the same: that the reciprocal externalities and problems of free-riding created by any common resource are complicated in the case of transnational commons by difficulties in monitoring, enforcement, and unequal access to information. Often using theories of negotiation taken from game theory, the studies then suggest possible solutions, both at an institutional and educational level.
Lisa D. Cook and Jeffrey Sachs
- Published in print:
- 1999
- Published Online:
- November 2003
- ISBN:
- 9780195130522
- eISBN:
- 9780199867363
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195130529.003.0022
- Subject:
- Economics and Finance, Public and Welfare
The concept of global public goods can help us understand and respond to the new global policy challenges likely to face nations in the twenty‐first century. Tackling this growing agenda of common ...
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The concept of global public goods can help us understand and respond to the new global policy challenges likely to face nations in the twenty‐first century. Tackling this growing agenda of common concerns will require fresh thinking, intense research efforts, new political instruments, and innovative policy responses. Up to now, global public goods consisted primarily of “traffic rules” between countries and such at‐the‐border issues as tariffs. But increasingly, the initiatives for international cooperation reach behind national borders. Global concerns are penetrating national agendas, and national concerns are becoming the subject of international debate and of policy coordination and harmonization. Today, concrete outcomes and targets – such as disease control, pollution reduction, crisis prevention, and harmonized norms and standards – matter. The reasons for these new exigencies: enhanced openness, growing systemic risks, and the policy demands of the growing number of transnational actors in both business and civil society. Nation states will witness continuing erosion of their capacities to implement national policy objectives unless they take further steps to cooperate in addressing international spillovers and systemic risks. But that cooperation must be of a new type. Not just cooperation that keeps global public bads at bay (until they reach crisis proportions) but cooperation that centers on creating global public goods and internalizing externalities. And not just cooperation that mistakenly assumes that the sphere of “public” ends at national borders, but cooperation that recognizes that an efficient system of global public policy is a necessary ingredient of an efficient global economy. To make cooperation work along these lines, its current structure must be reengineered to create: (1) clear jurisdictional loop, reaching from the national to the international (regional and global) level and back to the national; (2) participation loop, bringing into the process all actors – governments, civil society and business; all population groups, including all generations; and all groups of countries; (3) an incentive loop to ensure that cooperation yields fair and clear results for all.Less
The concept of global public goods can help us understand and respond to the new global policy challenges likely to face nations in the twenty‐first century. Tackling this growing agenda of common concerns will require fresh thinking, intense research efforts, new political instruments, and innovative policy responses. Up to now, global public goods consisted primarily of “traffic rules” between countries and such at‐the‐border issues as tariffs. But increasingly, the initiatives for international cooperation reach behind national borders. Global concerns are penetrating national agendas, and national concerns are becoming the subject of international debate and of policy coordination and harmonization. Today, concrete outcomes and targets – such as disease control, pollution reduction, crisis prevention, and harmonized norms and standards – matter. The reasons for these new exigencies: enhanced openness, growing systemic risks, and the policy demands of the growing number of transnational actors in both business and civil society. Nation states will witness continuing erosion of their capacities to implement national policy objectives unless they take further steps to cooperate in addressing international spillovers and systemic risks. But that cooperation must be of a new type. Not just cooperation that keeps global public bads at bay (until they reach crisis proportions) but cooperation that centers on creating global public goods and internalizing externalities. And not just cooperation that mistakenly assumes that the sphere of “public” ends at national borders, but cooperation that recognizes that an efficient system of global public policy is a necessary ingredient of an efficient global economy. To make cooperation work along these lines, its current structure must be reengineered to create: (1) clear jurisdictional loop, reaching from the national to the international (regional and global) level and back to the national; (2) participation loop, bringing into the process all actors – governments, civil society and business; all population groups, including all generations; and all groups of countries; (3) an incentive loop to ensure that cooperation yields fair and clear results for all.
Oliver Grant
- Published in print:
- 2005
- Published Online:
- January 2010
- ISBN:
- 9780199276561
- eISBN:
- 9780191706059
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199276561.001.0001
- Subject:
- History, European Modern History
Presenting a new view of German history in the late 19th century, the author argues that many of the problems of Imperial Germany were temporary ones produced by the strain of rapid ...
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Presenting a new view of German history in the late 19th century, the author argues that many of the problems of Imperial Germany were temporary ones produced by the strain of rapid industrialization. Drawing on the tools of development economics he argues that Germany passed through a labour surplus phase as described by the Lewis Model. This period came to an end around 1900, creating more favourable conditions for political reform and social reconciliation. But Germany's progress to full political and economic maturity was derailed at the outbreak of war in 1914. The author bases his argument on an analysis of the economic and demographic forces driving migration in 19th-century Germany. High rural-urban migration led to the rapid expansion of German cities. The main factors driving this were social and economic change in the countryside and the process of the demographic transition. The release of surplus labour onto urban labour markets held back wage increases and led to an increase in inequality. The German economy behaved in a way which seemed to bear out the predictions of Karl Marx, and this contributed to the appeal of Marxist ideas and the rise of the social democratic vote. However, this was a temporary phase. The labour surplus period was largely over by 1900. The rise in inequality which had begun in the 1820s came to an end, and inequality began to fall. Contrary to received wisdom, Germany was not on the brink of a general socio-economic crisis in 1914; instead it was moving away from one. However, the political system failed to take advantage of this opportunity, and Germany's dependence on imported food and raw materials led to a strategic crisis which combined disastrously with internal political problems.Less
Presenting a new view of German history in the late 19th century, the author argues that many of the problems of Imperial Germany were temporary ones produced by the strain of rapid industrialization. Drawing on the tools of development economics he argues that Germany passed through a labour surplus phase as described by the Lewis Model. This period came to an end around 1900, creating more favourable conditions for political reform and social reconciliation. But Germany's progress to full political and economic maturity was derailed at the outbreak of war in 1914. The author bases his argument on an analysis of the economic and demographic forces driving migration in 19th-century Germany. High rural-urban migration led to the rapid expansion of German cities. The main factors driving this were social and economic change in the countryside and the process of the demographic transition. The release of surplus labour onto urban labour markets held back wage increases and led to an increase in inequality. The German economy behaved in a way which seemed to bear out the predictions of Karl Marx, and this contributed to the appeal of Marxist ideas and the rise of the social democratic vote. However, this was a temporary phase. The labour surplus period was largely over by 1900. The rise in inequality which had begun in the 1820s came to an end, and inequality began to fall. Contrary to received wisdom, Germany was not on the brink of a general socio-economic crisis in 1914; instead it was moving away from one. However, the political system failed to take advantage of this opportunity, and Germany's dependence on imported food and raw materials led to a strategic crisis which combined disastrously with internal political problems.
Deepak Lal and H. Myint
- Published in print:
- 1998
- Published Online:
- November 2003
- ISBN:
- 9780198294320
- eISBN:
- 9780191596582
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198294328.003.0009
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter analyses the empirical lessons of economic policy for promoting growth arising from the sample of developing countries examined in the book. It emphasizes, in particular, the importance ...
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This chapter analyses the empirical lessons of economic policy for promoting growth arising from the sample of developing countries examined in the book. It emphasizes, in particular, the importance of the classical prescription for providing an economic environment with stable property rights that favours the promotion of productivity, thrift, and above all entrepreneurship. It also takes a sceptical look at various strategies of development that have been proposed. The four sections of the chapter are (1) the relation between our approach and the neoclassical approach to economic policy; (2) ‘Capital Fundamentalism’ and ‘Industrial Fundamentalism’; (3) redressing the anti‐agricultural bias and agricultural ‘fundamentalism’; and (4) redistributive policies and land reform.Less
This chapter analyses the empirical lessons of economic policy for promoting growth arising from the sample of developing countries examined in the book. It emphasizes, in particular, the importance of the classical prescription for providing an economic environment with stable property rights that favours the promotion of productivity, thrift, and above all entrepreneurship. It also takes a sceptical look at various strategies of development that have been proposed. The four sections of the chapter are (1) the relation between our approach and the neoclassical approach to economic policy; (2) ‘Capital Fundamentalism’ and ‘Industrial Fundamentalism’; (3) redressing the anti‐agricultural bias and agricultural ‘fundamentalism’; and (4) redistributive policies and land reform.
Michele Alacevich
- Published in print:
- 2009
- Published Online:
- June 2013
- ISBN:
- 9780804760652
- eISBN:
- 9780804770798
- Item type:
- book
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9780804760652.001.0001
- Subject:
- Economics and Finance, Macro- and Monetary Economics
This book is a study of economic history. It describes what is perhaps the most crucial time for development economics: the birth of the “third world,” the creation of development economics as a ...
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This book is a study of economic history. It describes what is perhaps the most crucial time for development economics: the birth of the “third world,” the creation of development economics as a discipline, and the establishment of the World Bank's leading role in development. Using previously unavailable archival material, the text takes a close look at the years during which the International Bank for Reconstruction and Development—now known as the World Bank—turned its attention from reconstruction to development, having been upstaged by the Marshall Plan. The author describes the “Currie Mission” to Colombia (1949–1954), the World Bank's first general survey mission in a developing nation. With the Currie Mission as a starting point and a case study, he analyzes the complexities of the Bank's first steps toward economic and social development in poorer nations, and helps the reader understand some foundational questions about development that are still of great relevance today. The book is essential reading for anyone interested in the economic history of international development as a lens for better understanding current development issues.Less
This book is a study of economic history. It describes what is perhaps the most crucial time for development economics: the birth of the “third world,” the creation of development economics as a discipline, and the establishment of the World Bank's leading role in development. Using previously unavailable archival material, the text takes a close look at the years during which the International Bank for Reconstruction and Development—now known as the World Bank—turned its attention from reconstruction to development, having been upstaged by the Marshall Plan. The author describes the “Currie Mission” to Colombia (1949–1954), the World Bank's first general survey mission in a developing nation. With the Currie Mission as a starting point and a case study, he analyzes the complexities of the Bank's first steps toward economic and social development in poorer nations, and helps the reader understand some foundational questions about development that are still of great relevance today. The book is essential reading for anyone interested in the economic history of international development as a lens for better understanding current development issues.
