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China and India are making immense strides in development. Growth in both countries has been impressive. But there is now much concern about whether impressive growth rates are yielding enough poverty reduction. The present debate about their poverty lines is a reflection of this. In this second part of a two-part article (first part featured in January's Angle), we focus on more inclusive growth in these two Asian giants.
Revitalizing private sectors. 4. Transforming states. Conclusions. For a list of contributions, go to the full-text area of this record.
Since the early 2000s, India's economic performance has been celebrated and disparaged by different sections of the international policy community. The exuberance of India's own economic managers and business elites culminated in the dramatic failure of the 'India shining' election campaign in 2004. Against such a backdrop, it became imperative to examine India's true position in the world economy and specifically its relative performance vis-¿is China, the default benchmark for contemporary economic success. Chasing the Dragon: Will India Catch Up with China?addresses one of the most relevant questions of contemporary times-whether Asia's two giant economies will reclaim their historical position in the international political economy-and in India's case, critically examines its prospects for overcoming its disparity with its northern neighbour. Using empirical data compiled from diverse sources, it evaluates the legacies of the two professedly socialist yet very different systems in terms of human development and economic infrastructure. This book offers an extensive survey of the first decades after reforms in India and China, along with the economic changes in the post-reforms period as a whole, and the nature of the lead opened up by China. The role of investments made by overseas actors, the competition for natural resources, and the export markets that are bound to emerge soon between India and China are all explored and their implications discussed. The authors evaluate the prospects of India catching up with China, and indicate how this might be accomplished. Rich in analysis and debate, this book will be invaluable to students of international business, economics, international relations, the media, business houses, policy makers, and ministries of finance and external affairs.
Rejecting the "flat worldism" of the globalists as well as the peaks and valleys of trade and aid policies over the years, Robin Broad and John Cavanagh guide us through the raging debate over the best route to development for the poorer nations of Africa, Asia, and Latin America. This book takes readers on a journey through the rise and fall of the one-size-fits-all model of development that richer nations began imposing on poorer ones three decades ago. That model-called the "Washington Consensus" by its backers and "neoliberalism" or "market fundamentalism" by its critics-placed enormous power in markets to solve the problems of the poor. The authors have stood at the epicenter of these debates from their perches in the United Nations, the U.S. government, academia, and civil society. They guide us back in time to understand why the Washington Consensus dominated for so long, and how it devastated workers, the environment, and the poor. At the same time, they chart the rise of an "alter-globalization" movement of those adversely affected by market fundamentalism. Today, this movement is putting alternatives into action across the globe, and what constitutes development is being redefined. As the authors present this dramatic confrontation of paradigms, they bring into question the entire conventional notion of "development," and offer readers a new lens through which to view the way forward for poorer nations and poorer people. This brief history of development connects an arcane world with contemporary forces of globalization, environmental degradation, and the violation of perhaps the essential human right: to be considered individually, equally, in an economically viable world and way.
China and India are the most extraordinary economic success stories of the developing world. Both nations’ economies have grown dramatically over the past few decades, elevating them from two of the world’s poorest countries into projected economic superpowers. As a result, the numbers of Chinese and Indians living in poverty have rapidly fallen and per capita incomes in China and India have quadrupled and doubled, respectively. This book investigates the reasons for these staggering accomplishments and the lessons that can be applied both to other developing nations and to the problem of poverty that remains in these two countries. The contributors pay particular attention to agriculture and the rural economy, examining how initial conditions and investments and the prioritization and sequencing of different policies and strategies have led to successes, and how the agricultural and rural sectors connect to overall economic expansion. They also emphasize the importance of anti-poverty programs and safety nets in helping poor people escape poverty. The book offers a set of policy and strategic options for future growth and poverty reduction. These include setting the right priorities for public spending, identifying trade and market reforms, building social safety nets for the poorest of the poor, and building accountable institutions that can provide public goods and services effectively. The book concludes by examining future challenges to China and India’s economic development, such as the need to ensure growth that is sustainable, equitable, and environmentally friendly. The Dragon and the Elephant offers valuable insights to development specialists anxious to multiply the benefits experienced by two of the greatest economic successes in recent times.
Poverty and inequality remain at the top of the global economic agenda, and the methodology of measuring poverty continues to be a key area of research. This new book, from a leading international group of scholars, offers an up to date and innovative survey of new methods for estimating poverty at the local level, as well as the most recent multidimensional methods of the dynamics of poverty. It is argued here that measures of poverty and inequality are most useful to policy-makers and researchers when they are finely disaggregated into small geographic units. Poverty and Social Exclusion: New Methods of Analysis is the first attempt to compile the most recent research results on local estimates of multidimensional deprivation. The methods offered here take both traditional and multidimensional approaches, with a focus on using the methodology for the construction of time-related measures of deprivation at the individual and aggregated levels. In analysis of persistence over time, the book also explores whether the level of deprivation is defined in terms of relative inequality in society, or in relation to some supposedly absolute standard. This book is of particular importance as the continuing international economic and financial crisis has led to the impoverishment of segments of population as a result of unemployment, bankruptcy, and difficulties in obtaining credit. The volume will therefore be of interest to all those working on economic, econometric and statistical methods and empirical analyses in the areas of poverty, social exclusion and income inequality.
The recent economic rise of China and India has attracted a great deal of attention. Yet, many of the views regarding their market reforms and high growth have been tendentious, exaggerated, or oversimplified. Awakening Giants, Feet of Clay scrutinizes the phenomenal rise of both nations and demolishes the myths that have accumulated around the economic achievements of these two giants in the last quarter-century. Exploring the challenges that both countries must overcome to become true leaders in the international economy, Pranab Bardhan looks beyond short-run macroeconomic issues to examine structures, and current general performance. Full of valuable insights, Awakening Giants, Feet of Clay provides a nuanced picture of China and India's complex political economy at a time of startling global reconfiguration and change.
The main focus of this book is on the causation of starvation in general and of famines in particular. The author develops the alternative method of analysis—the 'entitlement approach'—concentrating on ownership and exchange, not on food supply. The book also provides a general analysis of the characterization and measurement of poverty. Various approaches used in economics, sociology, and political theory are critically examined. The predominance of distributional issues, including distribution between different occupation groups, links up the problem of conceptualizing poverty with that of analyzing starvation.
The economies of the People's Republic of China and India have seen dramatic growth in recent years. As their respective successes continue to reshape the world's economic landscape, noted Chinese and Indian scholars have studied the two countries' development paths, in particular their rich and diverse experiences in such areas as education, information technology, local entrepreneurship, capital markets, macroeconomic management, foreign direct investment, and state-owned enterprise reforms. Drawing on these studies, ADB has produced a timely collection of lessons learned that serves as a valuable refresher on the challenges and opportunities ahead for developing economies, especially those in Asia and the Pacific.
Gen Z is one of the most pessimistic in the history of humankind, yet every aspect of life — education, entertainment, healthcare, information, medicine, science, sports, technology — has never been better. Why then do we think the world is getting worse? Generation Optimism is about how to create the next generation of doers and dreamers. Optimism is a skill and like any other skill, as with happiness, coding, or public speaking, it can be learned. In reading this book, you will: * Gain a deep understanding of our human psychology and why we are wired to be negative * Read inspiring stories of people like Mark Cuban and others as they took the journey of optimism * Learn to alter your perspective if optimism is not your strong suit Learn the advantages of living an optimistic life and dare to be an optimist! Order your copy of Generation Optimism today!