Nations, Conglomerates, and Empires: The Tradeoff between Income and Sovereignty
Branko Milanovic1999, The World Bank eBooks
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Abstract
The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should he used and cited accordingly. The findings, interpretations, and conclusions are the authots own and should nr,t be attributed to the World Bank, its Executiv'e Board of Directors, or any of its member countries.
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Nations, Conglomerates and Empires: Trade-off Between Income and Sovereignty
2001
The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should he used and cited accordingly. The findings, interpretations, and conclusions are the authots own and should nr,t be attributed to the World Bank, its Executiv'e Board of Directors, or any of its member countries.
Market Economy, Democracy, or Rule of Law? What Should Be Prioritized to Promote Development? in Epiney/Haag/Heinemann (eds), Challenging Boundaries - Essays in Honor of Roland Bieber, Nomos, Baden-Baden 2007, pp. 104-116
2007
There are just over 200 sovereign states in the world today.i Some 152 of themthat means three out of four countries in the worldare so-called >developing countries.<2 Given the fact that the line between >developing< and >developed< is drawn in economic terms and does not necessarily mean that aparticular country is actually developing, the term >>developing country(is really a euphemism for >>poor country.(I; oihe. *ordr, at the beginning of th9 21st century, some 5 billion people, equivalent to almost 80 % of the global population, live il FvertV and more than 1 billion live in extreme poverty, wittt tess than 1$ per day'3 At the same time, official development assistance (ODA) from the OECD member countries to the developing countries hit a new record at 106.8 billion U.S.$ in 2005 alone.4 Substantial funds are also flowing from oil-rich Muslim countries and some other non-members of the OECD. Furthermore, oDA looks only at governmental prof.Dr. Frank Emmert,LL.M.,John S. Grimes Professorof Law and Director, center for lntemaii"irf ,ii C"-p.utiu. Lr*, inala* Ultiue.tity Schoot oJlaw-Indianapolis,,Al my teacher and ;;Gil. Riiind Bieber once told me that an academic should never..get t19 cozy. wlth the powers irljiT5i"i.i'rtiilJaltt"riirii-uit*""" all shxi15,()Der richtige, ja ndtige.Platz fiir einen wissen-;;;ii;il il;;; zwischen d"n Sr,ihl"n.n easel,'16. Juni 1998). It is my hope that this small conilbilffi[if-b;'Jo#ou"t.iut ur well as persuasive enough to meet with his approval. The world Development Indicators, published amually by the world-Bank' list 152 economies .i"iif, lr#1-r"iffi#i"rrutit"ni, *a ij ..onomies with 30,-000 to 1 million inhabitants; see http:// web.worldbank.org. S;ily';;;il;,itt".. ir no >ofhcialr definition of >develooine country((. However. there are widelv accepred defimtrons. b';;pfi;;.t- ;-iienJing elieibitity, ttr"e Wortd gant divides countries til";i#ffi},".;i'iioi'.r-Llair"'income<,->upp-er-middle income< and >high-income<' The ii,iiriii]iU"ii",J"r ,-ppir-*dJl" ir,"ont"n anit tttrlgtt income< was set at a Gross National Income itffi;;6;; "i ofdoo U.S $ i; 198t prices. To-make income dnd prices in different countries li*J"i.Uf., ift. *orld Bank uses purchaiing power parities (PPPs) and to insulate the values from ";;h;;;.;;nuctuations, ir i,r"r'tlt. t"*tfiJdwo.ia eunk'Allas'Method, which relies.on multi-ffi1ffifi#;;;il;;;;il;;wirrr auistet of developed countrv currencies. Since I July 2006. the threshold between r"pp"t-tiiidf. itt"om"u und >high income<,"and there fore betweenr>develffi;ff":i,;i;";;1'];;ffi;';oat. i""o*"u a''d >higli income<,-and therefore between)develoo;;ffiffi;r-""i J.r"rli,.o"i->>inaustriatizea corrntfuu, has been at a GNI per capita of 10,726 u'.S.5. S". http://web.worldbank'ore' See United Nations (ed .1, rn" iuiir"r"""iut Development C::F.
Three essays in development economics
Choice of ROSCA ruling structure by size 2.2 Membership size and Enforcement Problems 2.3 Marginal Effects of Institutional Features measured at different stages in the ROSCA life cycle 3.1 Net Enrolment Ratios 1990-2012 List of Tables 2.1 Summary Statistics and test of equivalence of means between ROSCAs experiencing enforcement problems between 2004 and and those that did not 2.2 Probit estimation 2.3 Probit estimation 2.4 Robustness Checks; Dependent Variable =1 if ROSCA experienced enforcement problems between 2004 and 2006 2.5 Equivalence of means; Groups that experienced enforcement problemssurvived v collapsed 3.1 Differences in enrolment statistics by source 3.2 Summary Statistics 3.3 Results for full sample and by gender 3.4a Predictive margins of religion, by household wealth level. 3.4b Predictive margins of household head's education, by household wealth level. 3.5 School supply characteristics; Rural v Urban. 3.6 School Supply Characteristics; Rural vs Urban by gender. 3.7 Marginal effects of (commune) average distance to school, by gender and work status 3.8 Random Intercepts and random slopes model 4.1 Summary Statistics 4.2 PMG Results, Full Sample 4.3 PMG results, by income group 4.4 Replication of Table 4.3, including tests for significant differences between estimated tax structure coefficients across income groups. 4.5 Results of Wald Test 4.6 Parameter restrictions for different estimators 4.7 Hausman test: MG v PMG 4.8 Full sample, including openness to trade. 4.9 Results by Income Group, including openness to trade. 4.10 Replication of Table 4.2, excluding countries identified as potentially endogenous 4.11 Replication of Table 4.3, excluding countries identified as potentially endogenous v 4.12 Replication of Table 4.2, after including cross-sectional averages of all variables 4.13 Replication of Table 4.2, excluding resource-rich countries vi Glossary ADF Augmented Dickey-Fuller AME Average Marginal Effect CFA West-African Franc CIT Corporate Income Tax CNE Caisse Nationale d'Epargne
Development Economics and the International Development Association
2011
Prevailing economic ideas-and fashions-about development have influenced the International Development Association (IDA) since its creation in 1960. The creation of the organization itself is the result of two contemporaneous facts: an urgent need to channel development finance to least-developed countries and an increasing pressure on World Bank management to directly address the issue of poverty in developing countries. Changing views, over time, have been a rationale-and, at times, a justification-for emphasizing poverty and social sectors; for providing grants to particular groups of countries; and for strategic choices and sectoral priorities. IDA has been influential This paper is a product of the Research Support Unit, Development Economics. It is part of a larger effort by the World Bank to provide open access to its research and make a contribution to development policy discussions around the world. Policy Research Working Papers are also posted on the Web at http://econ.worldbank.org. The authors may be contacted at cdenizer@worldbank.org, jdethier@worldbank.org, and agleb@cgdev.org. in development debates and been an advocate for specific views about development policy. This paper gives an overview of these views and documents how they have shaped the activities of the organization since its creation. After a brief review of development thinking and of the organization of research at the World Bank, the paper documents the shifts that have taken place in country allocations and in sector emphasis in IDA over the past 50 years and highlights the strategic themes that have guided its development agenda: toward increasing country selectivity; from projects to programs; from conditionality to country ownership of reforms; and from input-based to results-based performance.
The New Development Economics: After the Washington Consensus
Asean Economic Bulletin, 2006
The Globalization and Development Reader: Perspectives on Development and Global Change edited by J. Timmons Roberts and A. Bellone Hite
 Globalization, Development and Human Security edited by Anthony McGrew and Nana K. Poku
Development and Change, 2008
This book is an intellectual tour de force. It considers the contemporary Keynesian intellectual counter-revolution with regard to the political economy of underdevelopment. The basic thesis of the work is that there were two economic epochs in the postwar period. The first constituted the golden age of capitalism (1945-1973), to borrow a phrase coined by Cambridge (UK) Keynesians. The second period, post-1980, was not so benevolent an age. The global growth record of all countries and regions during the golden age was phenomenal-nobody disagrees. In the second phase since 1980 there has been considerable divergence in global growth and income, mainly because of economic collapse in Africa and Latin America, making the last two decades of the twentieth century lost decades for some. Again there is no disagreement with that-the question is why. Writers such as Amartya Sen talk about capabilities and rights without much reference to the costs of their provision. Jeffrey Sachs speaks of the big-push fundamentalism of increasing aid (mainly to Africa). Bill Easterly outlines the abject failure of development assistance. Dani Rodrik advocates a more eclectic and technocratic 'identify the constraints to growth' approach. Paul Collier elucidates on the povertyconflict traps of the bottom billion along with possible Iraq/Afghanistan-like protracted interventions to prevent conflict re-igniting. In this book Amsden argues that the first postwar era succeeded because developing countries were left alone to pursue independent strategies of economic development that were also 'demand' driven, while during the second phase they were subjected to colonial style prescriptions dictated by the structural adjustment syndrome; something that morphed into poverty reduction strategy papers (PRSPs), which is really structural adjustment in drag. Both periods, Amsden argues, were driven by American dominance of an empire, unprecedented in its sheer size and extent. The golden age has been described as the era of 'Pax Americana'; the post-1980 globalization phase is likely to be remembered as less benign. Throughout history empires last while they are seen to provide security and prosperity in return for the tribute they exact. Underlying the thinking behind the second phase was the market fundamentalism of the 'Washington Consensus' quartet, something that has latterly changed its emphasis to institutional quality. The Washington consensus 'high priests' are curiously unforthcoming in producing a popular version of their own solutions to the world's contemporary economic predicament. Could they be a tad embarrassed by their failure to deliver? What is missing in Amsden's analysis is the fact that the earlier American and Western laissez faire (or in Richard's Nixon's words: 'don't give a damn') attitude to the home-grown development strategies of the third world was predicated on a genuine fear of countries adopting, in whole or in part, the alternative Soviet model. In fact, countries like India did rather well by playing off the two superpowers.
The World Bank Development Economics Operations and Strategy Unit
2013
The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.
New Directions in Development Economics: Theory or Empirics? A Symposium in Economic and Political Weekly
2005
In May 2004 a conference was held at Cornell University entitled "75 Years of Development Research.". 1 Apart from the usual array of theoretical and empirical papers on development, a number of panels took stock of the state of development economics and discussed a range of methodological issues. One commentary that stood out in the challenge it posed to the current state of development economics was, "Is there Too Little
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Seminar: Theories and Policies of Development
Development means progress, advancement, and a better life for everyone. In this highly uneven world, where inter-regional, inter-class, inter-group, and inter-gender differences in development are expanding, this course will critically examine what constitutes progress, advancement, or betterment, and conceptually explore whether and how equality can become a goal for all societies. This course will debate global policy regimes produced by organizations like Word Bank, IMF, and WTO to understand how the geography of global development, and in turn development in the Global South, is shaped.
INTL 532 Political Economy of Globalization and Development Syllabus Spring 2018.pdf.pdf
COURSE DESCRIPTION: The course aims to provide an in-depth coverage of the political economy of globalization and development with a particular focus on emerging powers and their changing role in the global political economy. The first part of the part of the course will cover broader debates on Northern and Southern varieties of capitalism, states and markets in development, the relationship between democracy and development. The second part of the course will focus explicitly on individual BRICS and near BRICS. Particular attention will be paid to the respective developmental strategies as well as similarities and contrasts in the regional and global roles of China, India, Brazil and Russia. Finally, the course will consider the role of emerging powers in the context of global governance. The role of emerging powers is investigated in the context of the global economic crisis and their influence on the future course of development in the " global South " .
States and Economic Development
Revista de Economia Política, 2009
Today the Washington Consensus on development lies in tatters. The recent history of the developing world has been unkind to the core claim that a nation that opens its economy and keeps government's role to a minimum invariably experiences rapid economic growth. The evidence against this claim is strong: the developing world as a whole grew faster during the era of state intervention and import substitution than in the more recent era of structural adjustment (1990)(1991)(1992)(1993)(1994)(1995)(1996)(1997)(1998)(1999)(2000)(2001)(2002)(2003)(2004)(2005); and the recent economic performance of both Latin America and Sub-Saharan Africa-regions that truly embraced neoliberalism-has lagged well behind that of many Asian economies, which have instead pursued judicial and unorthodox combinations of state intervention and economic openness. As scholars and policy makers reconstruct alternatives to the Washington Consensus on development, it is important to underline that prudent and effective state intervention and selective integration with the global economy have been responsible for development success in the past; they are also likely to remain the recipes for upward mobility in the global economy in the future.
New Directions in Development Economics
RePEc: Research Papers in Economics, 1992
The contributions to New Directions in Development Economics examine two broad subjects: Part I focuses on economic growth (or its absence) in developing countries, and Part II joins the ongoing debate over the role of the state in promoting development. Bringing together development experts from four continents, this volume presents the widest possible range of perspectives on the challenges of growth. In addition, it examines the environmental costs of growth; throughout, the contributors emphasize the need to invest in human capital and the environment in order to achieve real growth as opposed to growth measured purely in terms of economic indicators. Despite the growing dominance of free market policies in the postcommunist world, the state still plays a pivotal role in economic development. The chapters in Part II cover both the theoretical background to current state-versus-market discussions and practical issues such as foreign investment incentives and the role of non-governmental organizations in securing democratic participation in development. New Directions in Development Economics provides an essential reference work for those interested in current debates, as it reflects topical trends of thought and identifies prevailing problems and solutions. Rather than merely highlighting the many dilemmas facing developing countries, the contributors outline possible policy responses that decision makers in both North and South would be well advised to consider. Mats Lundahl is Professor of Development Economics at the Stockholm School of Economics. Benno J. Ndulu is Executive Director of the African Economic Research Consortium and Professor of Economics at the University of Dares -Salaam. Both have published widely on development issues, trade policy and long-term growth.
Globalization, Development, and International Institutions: Normative and Positive Perspectives
This essay is not intended as a traditional book review. It addresses the question of what has been the impact of the major international economic institutions on the developing countries. The books that are its focus are all critical of how the effects of globalization have been managed over the past 20 years. None attacks globalization itself, but each points to different problems with the ways international institutions have affected the developing countries. I briefly sketch the arguments in each book below. But since this is not a traditional book review, I focus on the arguments they make that are relevant to the main theme of this essay.
"Under the Aegis of Man": The Right to Development and the Origins of the New International Economic Order
Humanity, 2015
Development Policy and Development Economics: An Introduction
Anyone who undertakes to produce a volume of surveys in economic development must confront the question: does the world really need another one? There have been four volumes in the present series alone, going back to 1988 (Chenery and Srinivasan, eds.), with the latest collection published in 2008 (Schultz and Strauss, eds.). The field changes over time and, one hopes, knowledge accumulates. So one motive is the desire to cover the more recent advances. And indeed, economic development has been one of the most dynamic and innovative fields within economics in recent years. But we had another motive as well. We envisaged this Handbook to have a somewhat different focus from earlier ones. In particular, rather than just surveying the " state of the literature " in various subfields, what we sought to accomplish is to present critical and analytical surveys of what we know (and don't know) in different policy areas. We asked the authors of each chapter to answer the questions: " What kind of policy guidance does the literature offer in this particular area of development? Where are the gaps? What can we say with certainty that we know? What are the weaknesses of the literature from a policy perspective? What kind of research do we need to undertake to answer burning policy questions of the day? To what extent does actual policy practice correspond to the prescriptions that follow from solid research? " We thus envisioned that the audience for this volume would not only be graduate students and other
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