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e-book Macroeconomic Policies and Poverty (Routledge Studies in the Modern World Economy)

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Lybek S. Swaray and P.

Globalization and Trade and Poverty: Crash Course Economics #16

Montiel Peter J. Ndegwa Stephen N. Nyoni Timothy S. Odedokun M. Peiris Shanaka J.

Rajan Raghuram G. Reinhart Carmen M.

1st Edition

Reinikka R. Reinikka and P. Collier Washington : World Bank. Sackey Harry A. Singh Ram D. Slack Graham L. Yartey C. Younger Stephen D. User Account. IMF eLibrary. Advanced search Help. Kitts and Nevis St. Lucia St.

Public Health Health Policy. Nordic Council of Ministers. Print Cite Citation Alert off. Languages: English French. Get Code Buy. African Dept. Topics examined in recent volumes include responses to exogenous shocks, growth performance and growth-enhancing policies, the effectiveness of regional trade arrangements, macroeconomic implications of scaled-up aid, financial sector development, and fiscal decentralization.

Detailed country data, grouped by oil-exporting and -importing countries and by subregion, are provided in an appendix and a statistical appendix, and a list of relevant publications by the African Department is included. ISSN Abed , George T. Adam , Christopher S.

Arikan , G.

International economics

Arzaghi , Mohammad , and J. Gupta , B. Clements , and G. Barth , James R. Second, it examines the complex interrelationships between economic growth, unemployment, poverty reduction and income inequality, both conceptually and empirically. This analysis gives attention to the notion of full employment, the relationship between technical change and unemployment, the economic significance of the information and communications technology revolution, and labour market theories of unemployment and inflation.

Third, the paper looks at the changed historical conjuncture for economic development and for the development policy debate. The following themes and related analytical and policy questions are emphasized:. Liberalization and globalization—Contrary to theoretical expectations, why has the actual experience of many developing countries with liberalization and globalization been negative rather than positive, i.

Also, are these failures simply a matter of incorrect policies, or are there more fundamental flaws from the perspective of developing countries, with respect to the institutional arrangements of the world economy under liberalization and globalization? Washington Consensus—Has the Washington Consensus failed? What lessons should be learned from the implementation of that policy programme? Asian financial and economic crisis—A very important and influential thesis concerning the Asian crisis suggests that the failure of Asian countries during can be ascribed mainly to the dirigiste and corporatist model of capitalism that many of these countries were following.

Between Walras and Ricardo. Ladislaus von Bortkievicz and the origin of neo-ricardian theory

The paper examines this thesis critically. A central policy implication of these analyses is that developing countries need to attain a trend increase in their growth rates, possibly to their pre long-term rates of about 6 per cent per year. Although faster growth will help to reduce poverty, the latter is affected by other important variables as well—notably inflation, inequality of income and asset distribution, instability of economic growth and government fiscal policies.

Women, in particular, are adversely affected by macro-economic instability.


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What is required, therefore, to meet the employment and poverty reduction goals of the Social Summit is not only fast growth, but also better quality growth. The last part of the paper highlights the shortcomings of the present institutional arrangement of liberalization and globalization. It indicates why and how these arrangements make it difficult for developing countries to achieve high rates of economic growth.

Indeed, it is suggested that this regime is sub-optimal for both developing and developed countries. It is argued that, today, the main constraints on faster long-term economic growth in both developing and developed countries do not lie on the supply side but on the demand side. In principle, the world has the technological and intellectual capacity, as well as the human and material resources, to achieve the fast growth required to fulfil the aims of the Social Summit.

The paper suggests that such growth will, however, only be realized in practice if the alternative strategy outlined is adopted. This involves the pursuit of faster growth of real world demand through co-ordinated expansion by industrialized countries and the introduction of special and differential treatment for developing countries in a number of key spheres.

In brief, an essential argument of this paper is that, instead of the present organization of the world economy, a global Keynesian regime of managed world trade and controlled global capital movements is more likely to benefit both developed and developing countries. Together with genuine international co-operation as well as more harmonious relations between employers, employees and governments nationally, this would deliver both fast growth and high quality growth. Such growth would help bring full employment and rising wages in both groups of countries.

In analytical terms, the paper stresses the significance of co-ordination failures on the demand side as the main obstacles to economic progress, rather than supply-side deficiencies.

e-book Trade Infrastructure and Economic Development (Routledge Studies in Development Economics)

In order for the rate of growth of real world demand to be compatible with production possibilities on the supply side, new institutions are required to resolve the co-ordination problems on a sustained, long-term basis. Atkinson, A. Balassa, B. Boltho, A. Chakravarty, S. Nueva Sociedad, Caracas, No. Magoscsi Political Geography Quarterly Vol. Review of The Colonizer's Model of the World.