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Development economics, development theory, economic theory, study of different types of developing countries at different stages of economic development - covers economic policy, population growth, poverty, dual economy, economic structure, agricultural market expansion, wage policy for mines and plantation workers, migrant workers, input output, banking, investments, trade, monetary policy, disguised unemployment and underemployment. References.
International trade in 2009 is projected to contract for the first time since 1982. As a result, export diversifi cation has gained new urgency as one way of using exports to recover lost growth momentum. Moreover, diversifi cation is central to reducing income volatility and sustaining high growth rates, which are especially important for countries with large populations living in poverty. In the 1950s, countries became concerned that their dependence on primary products would lead to steady falls in the purchasing power of primary exports and thus slow growth. A major policy objective of developing countries since that time has been to diversify out of primary products into manufactures. Although some nations have been at least partially successful, many low-income countries remain dependent on a narrow range of primary products. 'Breaking Into New Markets' argues for a comprehensive view of diversifi cation. It explores new thinking and evidence about export diversifi cation and elaborates on policies for its promotion. These policies span tariffs and taxes, services, and government activities to help fi rms take advantage of global opportunities. The book is a compilation of chapters written as short, policy-focused pieces. Many digest longer, more academic papers in an effort to make the information accessible to a larger policy and nontechnical audience. In that sense, the book is a policy primer on what export diversifi cation can and cannot do for growth and how to make diversifi cation happen. Intelligently designed policies that effi ciently address the obstacles to export growth are critical for overall economic growth and poverty reduction. This book offers insights useful to policy makers and practitioners as they embark on efforts to design new programs of competitiveness in their trade strategies.
The issue of the pros and cons of free trade from the point of view of developing countries refuses to dissipate, and in Latin America, the debate rages most fiercely. Argentina is still licking its wounds after a catastrophic past five years, and Brazil and others have hardened their line – even going so far as to initiate the influential new G20 group of the most powerful LDCs. Who Gains from Free Trade examines the extent to which trade reforms have been an important source of the slowdown of economic growth, rising inequality and rising poverty as observed in many parts of the region. This volume presents a comprehensive analysis of this important topic, utilizing: research based on sixteen country narratives of policy reform and economic performance rigorous general equilibrium (CGE) modelling of the economy-wide effects of trade reform for all country cases application of an innovative method of microsimulations to assess the employment and factor income distribution impact of policy reforms on poverty and inequality at the household level. This important study, a valuable resource for postgraduate students of development economics and political economy, examines all the current issues and brings together some of the world’s leading experts.
This paper is a critique of the thesis propounded in W.A. Lewis' Nobel lecture that economic growth in developed countries is the main driving force of exports and growth in developing countries. The trade engine theory is shown to rest on highly restrictive assumptions which, it is argued, have become increasingly inappropriate as a consequence of far-reaching changes in the composition of LDC exports. Empirical analysis is undertaken to show that the main gear of the trade engine, the linkage between economic prosperity in developed countries and export growth of developing countries, is highly unstable and hence mechanically inefficient. The trade engine theory, it is argued, is no more applicable in recent decades than Kravis showed it was in the nineteenth century.
In this paper, the World Bank and the International Monetary Fund have drawn together available research findings on the benefits of trade liberalization as well as on the obstacles to trade-oriented development.
Economic and social progress requires a diverse ecosystem of firms that play complementary roles. Making It Big: Why Developing Countries Need More Large Firms constitutes one of the most up-to-date assessments of how large firms are created in low- and middle-income countries and their role in development. It argues that large firms advance a range of development objectives in ways that other firms do not: large firms are more likely to innovate, export, and offer training and are more likely to adopt international standards of quality, among other contributions. Their particularities are closely associated with productivity advantages and translate into improved outcomes not only for their owners but also for their workers and for smaller enterprises in their value chains. The challenge for economic development, however, is that production does not reach economic scale in low- and middle-income countries. Why are large firms scarcer in developing countries? Drawing on a rare set of data from public and private sources, as well as proprietary data from the International Finance Corporation and case studies, this book shows that large firms are often born large—or with the attributes of largeness. In other words, what is distinct about them is often in place from day one of their operations. To fill the “missing top†? of the firm-size distribution with additional large firms, governments should support the creation of such firms by opening markets to greater competition. In low-income countries, this objective can be achieved through simple policy reorientation, such as breaking oligopolies, removing unnecessary restrictions to international trade and investment, and establishing strong rules to prevent the abuse of market power. Governments should also strive to ensure that private actors have the skills, technology, intelligence, infrastructure, and finance they need to create large ventures. Additionally, they should actively work to spread the benefits from production at scale across the largest possible number of market participants. This book seeks to bring frontier thinking and evidence on the role and origins of large firms to a wide range of readers, including academics, development practitioners and policy makers.