Joseph Stiglitz
- Published in print:
- 2003
- Published Online:
- November 2003
- ISBN:
- 9780199257010
- eISBN:
- 9780191596223
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199257019.003.0005
- Subject:
- Economics and Finance, International
Building on his 1998 Prebisch lecture, presented at UNCTAD in Geneva, the author focuses on the form and content of a new (i.e. post Washington Consensus) paradigm of development, the role of ...
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Building on his 1998 Prebisch lecture, presented at UNCTAD in Geneva, the author focuses on the form and content of a new (i.e. post Washington Consensus) paradigm of development, the role of national governments, civil society, and international agencies in helping to promote such development; and the ways in which the appropriate strategies, policies, and processes may best be conceived and delivered. The first main part of the chapter describes a broader vision for the future course of development, based on a transformation of society. The second explains that not only the Washington Consensus but also earlier development paradigms failed because they viewed development too narrowly; this section includes a brief outline of some of the key factors––including recent events in East Asia and the Russian Federation––that have helped in a realization of the inadequacies of the old approaches. The third section outlines what may be regarded as the key principles of a development strategy based on a holistic concept of development, and the fourth identifies the major components of such a development strategy. The chapter concludes with some general observations, focusing on the importance of a full and fair participation in the global economy in furthering development based on the new paradigm presented.Less
Building on his 1998 Prebisch lecture, presented at UNCTAD in Geneva, the author focuses on the form and content of a new (i.e. post Washington Consensus) paradigm of development, the role of national governments, civil society, and international agencies in helping to promote such development; and the ways in which the appropriate strategies, policies, and processes may best be conceived and delivered. The first main part of the chapter describes a broader vision for the future course of development, based on a transformation of society. The second explains that not only the Washington Consensus but also earlier development paradigms failed because they viewed development too narrowly; this section includes a brief outline of some of the key factors––including recent events in East Asia and the Russian Federation––that have helped in a realization of the inadequacies of the old approaches. The third section outlines what may be regarded as the key principles of a development strategy based on a holistic concept of development, and the fourth identifies the major components of such a development strategy. The chapter concludes with some general observations, focusing on the importance of a full and fair participation in the global economy in furthering development based on the new paradigm presented.
Akbar Noman, Kwesi Botchwey, Howard Stein, and Joseph E. Stiglitz (eds)
- Published in print:
- 2011
- Published Online:
- May 2012
- ISBN:
- 9780199698561
- eISBN:
- 9780191738142
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199698561.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Why has the economic growth performance of Sub-Saharan Africa overall been so disappointing over the past fifty years? More importantly, what can be done to sustain and improve upon the accelerated ...
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Why has the economic growth performance of Sub-Saharan Africa overall been so disappointing over the past fifty years? More importantly, what can be done to sustain and improve upon the accelerated growth experienced in recent years? What are the possibilities and policies for Africa to achieve sustained, rapid economic growth, poverty reduction, and begin to catch up? What are the lessons of success in both Africa and elsewhere? Could some of the policies that proved so successful in East Asia help reverse the de-industrialization of Africa in the past three decades and be the basis of its structural transformation? These were the questions posed to a diverse group of experts on development convened by the Initiative for Policy Dialogue (IPD). This volume reflects the highlights of their deliberations. It broadens the policy debate, expands the policy options and proposes alternative development strategies. This book captures the lively, and sometimes contentious, debate, but in the end, it provides a note of optimism for the future of a subcontinent whose economic experience has been so disappointing. Neither geography nor governance present an insurmountable obstacle in much of Africa, but the dominant governance agenda needs to be radically overhauled. Though success is not assured, there is good reason to believe that policies based on lessons of successes, notably in East Asia, can be adapted successfully in African contexts. And indeed, there are already a few notable successes, and more are in the offing.Less
Why has the economic growth performance of Sub-Saharan Africa overall been so disappointing over the past fifty years? More importantly, what can be done to sustain and improve upon the accelerated growth experienced in recent years? What are the possibilities and policies for Africa to achieve sustained, rapid economic growth, poverty reduction, and begin to catch up? What are the lessons of success in both Africa and elsewhere? Could some of the policies that proved so successful in East Asia help reverse the de-industrialization of Africa in the past three decades and be the basis of its structural transformation? These were the questions posed to a diverse group of experts on development convened by the Initiative for Policy Dialogue (IPD). This volume reflects the highlights of their deliberations. It broadens the policy debate, expands the policy options and proposes alternative development strategies. This book captures the lively, and sometimes contentious, debate, but in the end, it provides a note of optimism for the future of a subcontinent whose economic experience has been so disappointing. Neither geography nor governance present an insurmountable obstacle in much of Africa, but the dominant governance agenda needs to be radically overhauled. Though success is not assured, there is good reason to believe that policies based on lessons of successes, notably in East Asia, can be adapted successfully in African contexts. And indeed, there are already a few notable successes, and more are in the offing.
Justin Yifu Lin and Peilin Liu
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780199535194
- eISBN:
- 9780191715730
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199535194.003.0004
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter argues that the regional income gap of China is endogenously determined by its long-term economic development strategy. The comparative advantage-defying (CAD) strategy, adopted by the ...
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This chapter argues that the regional income gap of China is endogenously determined by its long-term economic development strategy. The comparative advantage-defying (CAD) strategy, adopted by the Chinese government in the pre-reform era, encouraged firms to deviate from the economy's existing comparative advantages by prioritizing capital-intensive heavy industries. Under this strategy, many enterprises were not viable in competitive markets and required government support and protection. Consequently, the CAD strategy retarded the functions of market, impeded capital accumulation, and hindered technology and productivity progress in many provinces. In the post-reform period, provinces in central and western China continue to follow the CAD strategy and have poor growth records, while the coastal areas started to adopt the comparative advantage-following (CAF) strategy by facilitating firms' entry into an industry or choice of technology according to the economy's existing comparative advantages. This difference in development strategies represents the most fundamental cause of regional disparity in China. Therefore, it is imperative to replace the CAD strategy with a CAF strategy and restructure the existing industries in all provinces based on the principle of comparative advantage. This would lead to balanced development among regions and provinces.Less
This chapter argues that the regional income gap of China is endogenously determined by its long-term economic development strategy. The comparative advantage-defying (CAD) strategy, adopted by the Chinese government in the pre-reform era, encouraged firms to deviate from the economy's existing comparative advantages by prioritizing capital-intensive heavy industries. Under this strategy, many enterprises were not viable in competitive markets and required government support and protection. Consequently, the CAD strategy retarded the functions of market, impeded capital accumulation, and hindered technology and productivity progress in many provinces. In the post-reform period, provinces in central and western China continue to follow the CAD strategy and have poor growth records, while the coastal areas started to adopt the comparative advantage-following (CAF) strategy by facilitating firms' entry into an industry or choice of technology according to the economy's existing comparative advantages. This difference in development strategies represents the most fundamental cause of regional disparity in China. Therefore, it is imperative to replace the CAD strategy with a CAF strategy and restructure the existing industries in all provinces based on the principle of comparative advantage. This would lead to balanced development among regions and provinces.
Nicholas Stern
- Published in print:
- 2003
- Published Online:
- January 2012
- ISBN:
- 9780197263037
- eISBN:
- 9780191734007
- Item type:
- chapter
- Publisher:
- British Academy
- DOI:
- 10.5871/bacad/9780197263037.003.0011
- Subject:
- History, Cultural History
This lecture discusses some key lessons of development experience and the strategy they lead to. It shows how one can and should do further research on both the processes of development behind the ...
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This lecture discusses some key lessons of development experience and the strategy they lead to. It shows how one can and should do further research on both the processes of development behind the strategy, and on the type of public economics that should inform public action. Aside from presenting a strategy for development, the lecture argues that this strategy provides both a basis for action and an agenda for research. The strategy is based on a review of fifty years of development, which in turn pinpoints some key strategic lessons such as the multiple dimensions of development and the complementarity of states and markets.Less
This lecture discusses some key lessons of development experience and the strategy they lead to. It shows how one can and should do further research on both the processes of development behind the strategy, and on the type of public economics that should inform public action. Aside from presenting a strategy for development, the lecture argues that this strategy provides both a basis for action and an agenda for research. The strategy is based on a review of fifty years of development, which in turn pinpoints some key strategic lessons such as the multiple dimensions of development and the complementarity of states and markets.
Nadia Ramsis Farah
- Published in print:
- 2009
- Published Online:
- September 2011
- ISBN:
- 9789774162176
- eISBN:
- 9781617970337
- Item type:
- book
- Publisher:
- American University in Cairo Press
- DOI:
- 10.5743/cairo/9789774162176.001.0001
- Subject:
- Political Science, Political Economy
This new study deals with the unfolding of the great political and economic transformations of the modern Egyptian state from the appointment of Muhammad Ali as governor of Egypt in 1805 to the era ...
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This new study deals with the unfolding of the great political and economic transformations of the modern Egyptian state from the appointment of Muhammad Ali as governor of Egypt in 1805 to the era of President Mubarak, with a special focus on the period 1990–2005, which witnessed a rigorous implementation of structural adjustment policies, the acceleration of economic privatization and liberalization, the emergence of a group of neoliberals within the ruling National Democratic Party, and the consolidation of business interests and representation in parliament and government. The book asserts that the modernization process in Egypt over the last two centuries has been determined by power relations and their articulation, and so it investigates in depth the impact of power relations on development strategies, on political liberalization, on politicized Islam as a hegemonic ideology adopted by the state since the beginning of the 1970s, and on gender relations in development.Less
This new study deals with the unfolding of the great political and economic transformations of the modern Egyptian state from the appointment of Muhammad Ali as governor of Egypt in 1805 to the era of President Mubarak, with a special focus on the period 1990–2005, which witnessed a rigorous implementation of structural adjustment policies, the acceleration of economic privatization and liberalization, the emergence of a group of neoliberals within the ruling National Democratic Party, and the consolidation of business interests and representation in parliament and government. The book asserts that the modernization process in Egypt over the last two centuries has been determined by power relations and their articulation, and so it investigates in depth the impact of power relations on development strategies, on political liberalization, on politicized Islam as a hegemonic ideology adopted by the state since the beginning of the 1970s, and on gender relations in development.
Joseph E. Stiglitz
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780199534081
- eISBN:
- 9780191714658
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199534081.003.0004
- Subject:
- Economics and Finance, Development, Growth, and Environmental
If there is a consensus today about what strategies are most likely to promote development in poor countries, it is this: the ‘Washington Consensus’ — the oversimplified rendition of policies ...
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If there is a consensus today about what strategies are most likely to promote development in poor countries, it is this: the ‘Washington Consensus’ — the oversimplified rendition of policies recommended by international financial institutions and the US Treasury — did not provide the answer. This chapter reviews the tenets of the Washington Consensus and shows why its orthodox recipes failed to generate economic growth in the countries that applied them. It goes on to outline the ‘post-“Washington Consensus” Consensus’, which has emerged as a result of the growing dissatisfaction with the Washington Consensus failures. Aspects include: the agreement that a successful development strategy cannot come only from Washington but must include the developing world in a meaningful way; one-site-fits-all policies are doomed to fail; countries should be given room to experiment, use their own judgment, and explore alternatives; development requires a balanced role between the state and the market and the strengthening of the institutions in each; and finally, success must be measured not only in GDP, but also must account for distribution as well as social and environmental sustainability.Less
If there is a consensus today about what strategies are most likely to promote development in poor countries, it is this: the ‘Washington Consensus’ — the oversimplified rendition of policies recommended by international financial institutions and the US Treasury — did not provide the answer. This chapter reviews the tenets of the Washington Consensus and shows why its orthodox recipes failed to generate economic growth in the countries that applied them. It goes on to outline the ‘post-“Washington Consensus” Consensus’, which has emerged as a result of the growing dissatisfaction with the Washington Consensus failures. Aspects include: the agreement that a successful development strategy cannot come only from Washington but must include the developing world in a meaningful way; one-site-fits-all policies are doomed to fail; countries should be given room to experiment, use their own judgment, and explore alternatives; development requires a balanced role between the state and the market and the strengthening of the institutions in each; and finally, success must be measured not only in GDP, but also must account for distribution as well as social and environmental sustainability.
Ian Coxhead and Sisira Jayasuriya
- Published in print:
- 2003
- Published Online:
- November 2003
- ISBN:
- 9780195158984
- eISBN:
- 9780199869107
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195158989.003.0012
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Discusses the state of the Philippine environment by studying the trends of available data on environmental quality and natural resource degradation, and comparing them with those of other Asian ...
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Discusses the state of the Philippine environment by studying the trends of available data on environmental quality and natural resource degradation, and comparing them with those of other Asian countries. It then presents a brief review of theoretical links among environment quality, resource depletion, and development strategies and outcomes, considering Philippine data in light of this theory. Recent economic trends and policy initiatives affecting the environment and development are discussed, and simulation results indicating likely trends in economic and environmental variables under alternative policy regimes are presented. The chapter concludes with what past experience and current trends might indicate for the future of the Philippine environment.Less
Discusses the state of the Philippine environment by studying the trends of available data on environmental quality and natural resource degradation, and comparing them with those of other Asian countries. It then presents a brief review of theoretical links among environment quality, resource depletion, and development strategies and outcomes, considering Philippine data in light of this theory. Recent economic trends and policy initiatives affecting the environment and development are discussed, and simulation results indicating likely trends in economic and environmental variables under alternative policy regimes are presented. The chapter concludes with what past experience and current trends might indicate for the future of the Philippine environment.
Kent Jones
- Published in print:
- 2004
- Published Online:
- September 2011
- ISBN:
- 9780195166163
- eISBN:
- 9780199849819
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195166163.003.0009
- Subject:
- Economics and Finance, Economic Systems
This chapter focuses on the interests of developing countries in the GATT/WTO system. In view of all the evidence, it should be clear that trade is important to developing countries and that their ...
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This chapter focuses on the interests of developing countries in the GATT/WTO system. In view of all the evidence, it should be clear that trade is important to developing countries and that their continued engagement in the global trading system is essential as a matter of development strategy.Less
This chapter focuses on the interests of developing countries in the GATT/WTO system. In view of all the evidence, it should be clear that trade is important to developing countries and that their continued engagement in the global trading system is essential as a matter of development strategy.
Helen I. Safa
- Published in print:
- 1996
- Published Online:
- October 2011
- ISBN:
- 9780198290230
- eISBN:
- 9780191684807
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198290230.003.0009
- Subject:
- Economics and Finance, Development, Growth, and Environmental
In a number of developing countries, specifically for those open economies in the Caribbean Basin, export-led industrialization has assumed a major role in various development strategies during the ...
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In a number of developing countries, specifically for those open economies in the Caribbean Basin, export-led industrialization has assumed a major role in various development strategies during the 1980s. To be able to reduce unemployment and to acquire enough resources through foreign exchange for their debt payments, many countries have resorted to participating in export-led industrialization measures. The US Agency for International Development (AID) has asserted that countries in the Caribbean and Latin American regions should utilize such measures to achieve ‘security through development’ and political stability through providing funds for training, constructing export processing zones, and exporting market information. This chapter looks into how export manufacturing has led to how economies of the Caribbean Basin have veered away from traditional exports and the impacts of such on gender subordination and women's wage labour.Less
In a number of developing countries, specifically for those open economies in the Caribbean Basin, export-led industrialization has assumed a major role in various development strategies during the 1980s. To be able to reduce unemployment and to acquire enough resources through foreign exchange for their debt payments, many countries have resorted to participating in export-led industrialization measures. The US Agency for International Development (AID) has asserted that countries in the Caribbean and Latin American regions should utilize such measures to achieve ‘security through development’ and political stability through providing funds for training, constructing export processing zones, and exporting market information. This chapter looks into how export manufacturing has led to how economies of the Caribbean Basin have veered away from traditional exports and the impacts of such on gender subordination and women's wage labour.
Nirvikar Singh
- Published in print:
- 2013
- Published Online:
- May 2013
- ISBN:
- 9780199671557
- eISBN:
- 9780191751059
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199671557.003.0007
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This study examines India’s development strategy, and to what extent it may be considered a success. It provides a brief history of why and how the strategy was adopted, as well as of its ...
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This study examines India’s development strategy, and to what extent it may be considered a success. It provides a brief history of why and how the strategy was adopted, as well as of its implementation, including the role of initial conditions, such as human capital, geographical location, and infrastructure. It analyses the extent and reasons for success of the strategy, including policy, political economy, timing, and linkage of the strategy to economy-wide development. Particular attention is given to the relative roles of domestic and international actors, including the part played by foreign investment, trade, and other dimensions of openness. It concludes with possible lessons for other countries and their future development strategies.Less
This study examines India’s development strategy, and to what extent it may be considered a success. It provides a brief history of why and how the strategy was adopted, as well as of its implementation, including the role of initial conditions, such as human capital, geographical location, and infrastructure. It analyses the extent and reasons for success of the strategy, including policy, political economy, timing, and linkage of the strategy to economy-wide development. Particular attention is given to the relative roles of domestic and international actors, including the part played by foreign investment, trade, and other dimensions of openness. It concludes with possible lessons for other countries and their future development strategies.
Robert E. Looney
- Published in print:
- 2013
- Published Online:
- May 2013
- ISBN:
- 9780199671557
- eISBN:
- 9780191751059
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199671557.003.0020
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter examines the social factors and development strategies in Omani and Bahraini in an attempt to determine why each country has had so much economic success. The analysis focuses on the ...
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This chapter examines the social factors and development strategies in Omani and Bahraini in an attempt to determine why each country has had so much economic success. The analysis focuses on the initial conditions that each country faced; their development policies and the factors that influence them; the quality of governance and degree of economic freedom; and the extent to which each country's development strategy remains viable for the future.Less
This chapter examines the social factors and development strategies in Omani and Bahraini in an attempt to determine why each country has had so much economic success. The analysis focuses on the initial conditions that each country faced; their development policies and the factors that influence them; the quality of governance and degree of economic freedom; and the extent to which each country's development strategy remains viable for the future.
Mina Baliamoune-Lutz
- Published in print:
- 2013
- Published Online:
- May 2013
- ISBN:
- 9780199671557
- eISBN:
- 9780191751059
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199671557.003.0021
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter reviews Tunisia's development strategy, outlines the reasons for its success, and assesses the viability of this strategy in the future in the face of some major challenges, particularly ...
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This chapter reviews Tunisia's development strategy, outlines the reasons for its success, and assesses the viability of this strategy in the future in the face of some major challenges, particularly high unemployment. It also tries to pinpoint the lessons that can be learned or replicated by other countries. The chapter is organized as follows. Section 2 provides an overview of Tunisia's development strategy, highlighting in particular the role of diversification and human development. Section 3 discusses the main reasons for the success of Tunisia's development strategy. Section 4 comments on the challenges that need to be addressed in order for Tunisia's development strategy to continue its success. Section 5 outlines the main lessons for other countries. Concluding comments are presented in the final section.Less
This chapter reviews Tunisia's development strategy, outlines the reasons for its success, and assesses the viability of this strategy in the future in the face of some major challenges, particularly high unemployment. It also tries to pinpoint the lessons that can be learned or replicated by other countries. The chapter is organized as follows. Section 2 provides an overview of Tunisia's development strategy, highlighting in particular the role of diversification and human development. Section 3 discusses the main reasons for the success of Tunisia's development strategy. Section 4 comments on the challenges that need to be addressed in order for Tunisia's development strategy to continue its success. Section 5 outlines the main lessons for other countries. Concluding comments are presented in the final section.
Justin Yifu Lin, Mingxing Liu, and Ran Tao
- Published in print:
- 2013
- Published Online:
- May 2013
- ISBN:
- 9780199698547
- eISBN:
- 9780191745522
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199698547.003.0018
- Subject:
- Economics and Finance, South and East Asia, Macro- and Monetary Economics
In this paper, we show that China’s continued growth in the past three decades can be largely attributed to the deregulatory policies taken in different phases of transition that facilitated the ...
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In this paper, we show that China’s continued growth in the past three decades can be largely attributed to the deregulatory policies taken in different phases of transition that facilitated the utilization of China’s comparative advantage in labor-intensive sectors. We further argue that decentralization—and specifically, the fiscal contracting system adopted before the 1990s—could not be the fundamental source of China’s growth in transition. However, our interpretation of China’s transition does not downplay the active roles of local governments in economic development. Indeed, revenue-maximizing local governments did play an essential part in bringing about China’s fast growth, though changes in the central-local and state-business relationships have largely redefined local policy options and reshaped revenue-maximizing local government actions since the early transition period.Less
In this paper, we show that China’s continued growth in the past three decades can be largely attributed to the deregulatory policies taken in different phases of transition that facilitated the utilization of China’s comparative advantage in labor-intensive sectors. We further argue that decentralization—and specifically, the fiscal contracting system adopted before the 1990s—could not be the fundamental source of China’s growth in transition. However, our interpretation of China’s transition does not downplay the active roles of local governments in economic development. Indeed, revenue-maximizing local governments did play an essential part in bringing about China’s fast growth, though changes in the central-local and state-business relationships have largely redefined local policy options and reshaped revenue-maximizing local government actions since the early transition period.
Maria Da Silva-gane and Lewis M Cohen
- Published in print:
- 2010
- Published Online:
- November 2011
- ISBN:
- 9780199560035
- eISBN:
- 9780191730139
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199560035.003.0004
- Subject:
- Palliative Care, Patient Care and End-of-Life Decision Making, Pain Management and Palliative Pharmacology
This chapter discusses changes in the area of renal supportive and palliative care that have evolved in the United Kingdom and the United States. It also includes an overview of strategy developments ...
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This chapter discusses changes in the area of renal supportive and palliative care that have evolved in the United Kingdom and the United States. It also includes an overview of strategy developments and clinical demonstration projects to help illustrate the topic. It has been determined that ESRD has become a geriatric disorder, with demographics revealing an increase in the severity of co-morbid diseases.Less
This chapter discusses changes in the area of renal supportive and palliative care that have evolved in the United Kingdom and the United States. It also includes an overview of strategy developments and clinical demonstration projects to help illustrate the topic. It has been determined that ESRD has become a geriatric disorder, with demographics revealing an increase in the severity of co-morbid diseases.
Carol Wise
- Published in print:
- 2020
- Published Online:
- September 2020
- ISBN:
- 9780300224092
- eISBN:
- 9780300252378
- Item type:
- chapter
- Publisher:
- Yale University Press
- DOI:
- 10.12987/yale/9780300224092.003.0001
- Subject:
- Political Science, International Relations and Politics
This chapter introduces the rise of China in Latin America and the Caribbean (LAC). The author analyzes existing debates around the China-LAC relationship and offers three main points: (1) China will ...
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This chapter introduces the rise of China in Latin America and the Caribbean (LAC). The author analyzes existing debates around the China-LAC relationship and offers three main points: (1) China will continue to be a mainstay in LAC’s political economy, (2) its presence does not threaten US hegemony in the region, and (3) dependency theory, while a useful method of analysis, fails to account for the role of domestic institutions in diverging economic outcomes between Latin American countries following the China boom. The author argues that the incorporation of Latin America into China’s international development strategy is a critical juncture that highlights the importance of domestic institutions, leadership, and sound policymaking on economic outcomes—and that it is up to Latin American policymakers to take advantage, and minimize the risks, of the trade and investment opportunities offered by China.Less
This chapter introduces the rise of China in Latin America and the Caribbean (LAC). The author analyzes existing debates around the China-LAC relationship and offers three main points: (1) China will continue to be a mainstay in LAC’s political economy, (2) its presence does not threaten US hegemony in the region, and (3) dependency theory, while a useful method of analysis, fails to account for the role of domestic institutions in diverging economic outcomes between Latin American countries following the China boom. The author argues that the incorporation of Latin America into China’s international development strategy is a critical juncture that highlights the importance of domestic institutions, leadership, and sound policymaking on economic outcomes—and that it is up to Latin American policymakers to take advantage, and minimize the risks, of the trade and investment opportunities offered by China.
Haider A. Khan
- Published in print:
- 2013
- Published Online:
- May 2013
- ISBN:
- 9780199671557
- eISBN:
- 9780191751059
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199671557.003.0006
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter synthesizes the development strategies of Korea, Malaysia, Thailand, and Vietnam, drawing out some relevant lessons. Using a complex adaptive systems approach, strategic openness, a set ...
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This chapter synthesizes the development strategies of Korea, Malaysia, Thailand, and Vietnam, drawing out some relevant lessons. Using a complex adaptive systems approach, strategic openness, a set of heterodox macroeconomic policies, creation of institutions for productive investment in both agriculture and industry, avoidance of severe inequalities and political conflict, special initial conditions, and willingness to learn from unexpected developments are found to be some of these factors. Although no country can succeed by following mechanically the experience of another country, cautious experimentation, rapid feedback, and flexible, pragmatic policy-making with a strategic medium- to long-run perspective, can be helpful. Dynamic learning and flexible institution building are essential components of such a strategic approach to development.Less
This chapter synthesizes the development strategies of Korea, Malaysia, Thailand, and Vietnam, drawing out some relevant lessons. Using a complex adaptive systems approach, strategic openness, a set of heterodox macroeconomic policies, creation of institutions for productive investment in both agriculture and industry, avoidance of severe inequalities and political conflict, special initial conditions, and willingness to learn from unexpected developments are found to be some of these factors. Although no country can succeed by following mechanically the experience of another country, cautious experimentation, rapid feedback, and flexible, pragmatic policy-making with a strategic medium- to long-run perspective, can be helpful. Dynamic learning and flexible institution building are essential components of such a strategic approach to development.
Augustin Kwasi Fosu
- Published in print:
- 2013
- Published Online:
- May 2013
- ISBN:
- 9780199671557
- eISBN:
- 9780191751059
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199671557.003.0013
- Subject:
- Economics and Finance, Development, Growth, and Environmental
There was a reversal in the trend in the mid 1980s when Ghana embarked on a new development strategy of economic liberalization, based on the Washington Consensus. Economic growth improved ...
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There was a reversal in the trend in the mid 1980s when Ghana embarked on a new development strategy of economic liberalization, based on the Washington Consensus. Economic growth improved considerably. Although rather modest in comparison to the spectacular growth of the East Asian and Pacific countries or the African countries of Botswana and Mauritius, growth has continued. The relatively high per capita income evident in the immediate post-independence period has at least been restored. This study documents Ghana’s ‘success’ story. It identifies the strategy employed, providing a brief history of why and how the strategy was adopted, with some rationale for the success of the strategy, including the roles of domestic and international actors. Finally, the chapter draws lessons for possible application to other less successful countries.Less
There was a reversal in the trend in the mid 1980s when Ghana embarked on a new development strategy of economic liberalization, based on the Washington Consensus. Economic growth improved considerably. Although rather modest in comparison to the spectacular growth of the East Asian and Pacific countries or the African countries of Botswana and Mauritius, growth has continued. The relatively high per capita income evident in the immediate post-independence period has at least been restored. This study documents Ghana’s ‘success’ story. It identifies the strategy employed, providing a brief history of why and how the strategy was adopted, with some rationale for the success of the strategy, including the roles of domestic and international actors. Finally, the chapter draws lessons for possible application to other less successful countries.
Alaric Maude
- Published in print:
- 2003
- Published Online:
- March 2012
- ISBN:
- 9781861345462
- eISBN:
- 9781447302025
- Item type:
- chapter
- Publisher:
- Policy Press
- DOI:
- 10.1332/policypress/9781861345462.003.0006
- Subject:
- Sociology, Urban and Rural Studies
This chapter describes organisations that undertake the tasks of local and regional economic development (LRED) in Australia. It analyses the views of Australian LRED organisations on what constrains ...
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This chapter describes organisations that undertake the tasks of local and regional economic development (LRED) in Australia. It analyses the views of Australian LRED organisations on what constrains their effectiveness and what would improve it. The chapter suggests that the performance of LRED can be improved by ensuring that there is a stable and recognised LRED organisation in each region with the ability to lead on strategy development, and by developing a more effective framework for cooperation between organisations belonging to the different levels of government, including whole-of-government approaches which incorporate all three levels.Less
This chapter describes organisations that undertake the tasks of local and regional economic development (LRED) in Australia. It analyses the views of Australian LRED organisations on what constrains their effectiveness and what would improve it. The chapter suggests that the performance of LRED can be improved by ensuring that there is a stable and recognised LRED organisation in each region with the ability to lead on strategy development, and by developing a more effective framework for cooperation between organisations belonging to the different levels of government, including whole-of-government approaches which incorporate all three levels.
Roselyn Hsueh
- Published in print:
- 2011
- Published Online:
- August 2016
- ISBN:
- 9780801449956
- eISBN:
- 9780801462856
- Item type:
- book
- Publisher:
- Cornell University Press
- DOI:
- 10.7591/cornell/9780801449956.001.0001
- Subject:
- Political Science, Asian Politics
Today's China is governed by a new economic model that marks a radical break from the Mao and Deng eras; it departs fundamentally from both the East Asian developmental state and its own Communist ...
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Today's China is governed by a new economic model that marks a radical break from the Mao and Deng eras; it departs fundamentally from both the East Asian developmental state and its own Communist past. It has not, however, adopted a liberal economic model. China has retained elements of statist control even though it has liberalized foreign direct investment more than any other developing country in recent years. This mode of global economic integration reveals much about China's state capacity and development strategy, which is based on retaining government control over critical sectors while meeting commitments made to the World Trade Organization. This book demonstrates that China only appears to be a more liberal state; even as it introduces competition and devolves economic decision-making, the state has selectively imposed new regulations at the sectoral level, asserting and even tightening control over industry and market development, to achieve state goals. By investigating how China implemented its economic policies between 1978 and 2010, the book gives the most complete picture yet of China's regulatory state, particularly as it has shaped the telecommunications and textiles industries. It contends that a logic of strategic value explains how the state, with its different levels of authority and maze of bureaucracies, interacts with new economic stakeholders to enhance its control in certain economic sectors while relinquishing control in others. Sectoral characteristics determine policy specifics although the organization of institutions and boom-bust cycles influence how the state reformulates old rules and creates new ones to maximize benefits and minimize costs after an initial phase of liberalization.Less
Today's China is governed by a new economic model that marks a radical break from the Mao and Deng eras; it departs fundamentally from both the East Asian developmental state and its own Communist past. It has not, however, adopted a liberal economic model. China has retained elements of statist control even though it has liberalized foreign direct investment more than any other developing country in recent years. This mode of global economic integration reveals much about China's state capacity and development strategy, which is based on retaining government control over critical sectors while meeting commitments made to the World Trade Organization. This book demonstrates that China only appears to be a more liberal state; even as it introduces competition and devolves economic decision-making, the state has selectively imposed new regulations at the sectoral level, asserting and even tightening control over industry and market development, to achieve state goals. By investigating how China implemented its economic policies between 1978 and 2010, the book gives the most complete picture yet of China's regulatory state, particularly as it has shaped the telecommunications and textiles industries. It contends that a logic of strategic value explains how the state, with its different levels of authority and maze of bureaucracies, interacts with new economic stakeholders to enhance its control in certain economic sectors while relinquishing control in others. Sectoral characteristics determine policy specifics although the organization of institutions and boom-bust cycles influence how the state reformulates old rules and creates new ones to maximize benefits and minimize costs after an initial phase of liberalization.
Adebusuyi Isaac Adeniran
- Published in print:
- 2017
- Published Online:
- May 2018
- ISBN:
- 9781447335702
- eISBN:
- 9781447335740
- Item type:
- chapter
- Publisher:
- Policy Press
- DOI:
- 10.1332/policypress/9781447335702.003.0011
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter examines the impact of the National Economic Empowerment and Development Strategy (NEEDS), a socio-economic framework for enabling sustainable human development in Nigeria, and how it ...
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This chapter examines the impact of the National Economic Empowerment and Development Strategy (NEEDS), a socio-economic framework for enabling sustainable human development in Nigeria, and how it incorporates the basic targets of the Millennium Development Goals (MDGs) into government policy at both the national and grassroots levels. The chapter draws on the results of a study that was conducted to assess the specific impacts of the NEEDS policy in the process of improving the condition of existence in Nigeria by promoting socio-economic inclusivity. It considers the achievements of the NEEDS, the impediments that have constrained its functioning, and the lessons that have been or could be learnt from related achievements and failures of past development policies in Nigeria. It also offers some recommendations to make the NEEDS more effective in addressing the challenges and threats posed by poverty and other social incongruence in Nigeria.Less
This chapter examines the impact of the National Economic Empowerment and Development Strategy (NEEDS), a socio-economic framework for enabling sustainable human development in Nigeria, and how it incorporates the basic targets of the Millennium Development Goals (MDGs) into government policy at both the national and grassroots levels. The chapter draws on the results of a study that was conducted to assess the specific impacts of the NEEDS policy in the process of improving the condition of existence in Nigeria by promoting socio-economic inclusivity. It considers the achievements of the NEEDS, the impediments that have constrained its functioning, and the lessons that have been or could be learnt from related achievements and failures of past development policies in Nigeria. It also offers some recommendations to make the NEEDS more effective in addressing the challenges and threats posed by poverty and other social incongruence in Nigeria.
