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Our Continent, Our Future presents the emerging African perspective on this complex issue. The authors use as background their own extensive experience and a collection of 30 individual studies, 25 of which were from African economists, to summarize this African perspective and articulate a path for the future. They underscore the need to be sensitive to each country's unique history and current condition. They argue for a broader policy agenda and for a much more active role for the state within what is largely a market economy. Finally, they stress that Africa must, and can, compete in an increasingly globalized world and, perhaps most importantly, that Africans must assume the leading role in defining the continent's development agenda.
This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the key results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.
An in-depth look at the social and political results of the World Bank agricultural adjustment policies. Copyright © Libri GmbH. All rights reserved.
The book highlights proceedings from the Berlin 2008: Agriculture and Development conference held in preparation for the World Development Report 2008.
A joint FAO and World Bank study which shows how the farming systems approach can be used to identify priorities for the reduction of hunger and poverty in the main farming systems of the six major developing regions of the world.
The management of financial crises in emerging markets is a vital and high-stakes challenge in an increasingly global economy. For this reason, it's also a highly contentious issue in today's public policy circles. In this book, leading economists-many of whom have also participated in policy debates on these issues-consider how best to reduce the frequency and cost of such crises. The contributions here explore the management process from the beginning of a crisis to the long-term effects of the techniques used to minimize it. The first three chapters focus on the earliest responses and the immediate defense of a currency under attack, exploring whether unnecessary damage to economies can be avoided by adopting the right response within the first few days of a financial crisis. Next, contributors examine the adjustment programs that follow, considering how to design these programs so that they shorten the recovery phase, encourage economic growth, and minimize the probability of future difficulties. Finally, the last four papers analyze the actual effects of adjustment programs, asking whether they accomplish what they are designed to do-and whether, as many critics assert, they impose disproportionate costs on the poorest members of society. Recent high-profile currency crises have proven not only how harmful they can be to neighboring economies and trading partners, but also how important policy responses can be in determining their duration and severity. Economists and policymakers will welcome the insightful evaluations in this important volume, and those of its companion, Sebastian Edwards and Jeffrey A. Frankel's Preventing Currency Crises in Emerging Markets.
"The food problems now facing the world-scarcity and starvation, contamination and illness, overabundance and obesity-are both diverse and complex. What are their causes? How severe are they? Why do they persist? What are the solutions? The authors of the more than sixty international case studies contained in these books approach the food system with a multidisciplinary perspective. In three volumes that serve as valuable teaching tools, they call upon the wisdom of disciplines including economics, nutrition, sociology, anthropology, environmental science, medicine, and geography to create a holistic picture of the state of the world's food systems today. The authors focus in on specific cases from all corners of the globe to cover topics including drought and soil conservation; land allocation and cooperative marketing efforts; and food safety measures and advertising policies. In documenting past successes and failures, these case studies provide a valuable foundation for future research and efforts to create truly successful and sustainable food policy."--Pub. desc.