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Developement

Dueling Development Visions: Shaping the World Bank for the Future

Michael Woolcock's picture

As candidates for the presidency of the World Bank have been the focus of attention in recent weeks, divergent views have been exchanged regarding what ‘development’ actually is, how it should be conducted, and how efforts to bring it about should be assessed. Beyond the geo-strategic issues, how these questions are answered inexorably shapes what kind of leader one thinks should head up the world’s largest multilateral development agency, what kind of agenda that agency should pursue, and what kind of skills its staff should have.

The Law’s Majestic Equality?

Varun Gauri's picture

Literary writers do not think much of the law. In the last century, Anatole France wrote, mordantly: “The majestic equality of the laws prohibits the rich and the poor alike from sleeping under bridges, begging in the streets and stealing bread.” More recently, Aarvind Adiga says, “The jails of Delhi are full of drivers who are there behind bars because they are taking the blame for their good, solid middle-class masters. . . . The judges? Wouldn't they see through this obviously forced confession? But they are in the racket too. They take their bribe, they ignore the discrepancies in the case. And life goes on.”

A New Year’s Guide to the top World Bank blog posts of 2011

Adam Wagstaff's picture

2011 was a highly successful year for World Bank blogs; four posts chalked up more than 10,000 views over the year; the year saw the launch of the highly successful Development Impact blog; and two of the Bank’s blogs (Development Impact and Africa Can End Poverty) have featured in Palgrave’s top-50 Economics blogs. The table below lists the top-100 World Bank blog posts of 2011 based on page views over the period November 1, 2010 – November 19, 2011. For those interested, click here to see how the Bank’s 26 English-language blogs compare to one another in terms of the number of posts they have in the top-50, top-100, and top-200. (Keep in mind, however, that Development Impact was running for only part of this period.)

Equity and Development, Five Years On

Francisco Ferreira's picture

As I was packing for a trip to the 2011 ABCDE on “Broadening Opportunities for Development” in Paris, I got a call from an old friend: Would I write a blog on how I saw the “impact” of the 2006 World Development Report, which was entitled “Equity and Development”, over the last five years? Since my friend was paying my ticket to Paris, I could not really refuse, but I did tell her that I had heard Esther Duflo was also going to the ABCDE, so I had better not pretend that one could assess the real “impact” of that report on the practice of development economics…

I am glad to reminisce, though! The World Development Report (WDR) 2006, which Michael Walton and I led under François Bourguignon’s guidance, was an attempt to bring issues of distribution back into the core of the development debate. Distribution was central to the concerns of early development economists, from W. A. Lewis and Simon Kuznets in the 1950s, to Ahluwalia and Chenery’s Redistribution with Growth (1974). After an interlude - marked by the onslaught of representative agent models in macroeconomics and by Margaret Thatcher and Ronald Reagan on the global stage – inequality made a tentative return to mainstream economics in the early 1990s. At that time, a number of authors suggested that today’s distribution of wealth (or income) might affect tomorrow’s growth and development prospects, via a myriad pathways: investment capacity, occupational choice, political economy, etc.

International capital flows: Final picture from 2009

Shahrokh Fardoust's picture
 Photo: Istockphoto.com

As snow covers ground in Washington, D.C., debt markets swoon, and another year comes to a close, it seems like a good time to look at what actually happened to international capital flows to developing countries last year and what that might portend for flows in 2010, as this year’s numbers will be finalized in coming months.

At a time when the global economy has seen the most severe slowdown since the end of WWII, capital flows to the developing world—including private flows (debt and equity) and official capital flows (loans and grants from all sources)—are in an overall slump, well below their level in 2007 ($1.1 trillion). According to the just-published Global Development Finance: External Debt of Developing Countries, which contains detailed data on the external debt of 128 developing countries for 2009, net capital flows to these countries fell by 20 percent from $744 billion in 2008 to $598 billion in 2009. 

The Great Recession – Lessons from 10 Countries

Vamsee Kanchi's picture

How did developing countries fare during the crisis and what are their medium term prospects? These questions are at least partly answered in a new book covering 10 countries. Titled 'The Great Recession and the Developing Countries: Economic Impact and Growth Prospects,’ the book analyzes the  growth before, during and after the crisis of Brazil, China, Ethiopia, India, Malaysia, Mexico, Philippines, Poland, Turkey, and Vietnam.

The book’s editor, Mustapha Nabli, estimates that the average potential growth rate for the ten countries before the financial crisis was about 6 percent.  Unlike the overheated financial sector, pre-crisis trade and remittance levels were sustainable.
Once the crisis hit, however, less diversified countries really felt the heat. Their financial sectors eventually recovered, but trade remained low, thus adversely affecting their growth.  13.6 percent of Turkey’s 2009 GDP, for example, was shaved off during the financial crisis.  Possibly this was due in part to fears left over from past financial crises.

Llegar al fondo de la cuestión: Más allá de la guerra de divisas

Shahrokh Fardoust's picture
 Photo: istockphoto.com

Muchos observadores predicen que la cumbre del Grupo de los Veinte (G-20) que se lleva a cabo esta semana en Seúl será recordada principalmente como un baile de alta diplomacia destinado a persuadir a sus  miembros para que se abstengan de una devaluación competitiva de sus monedas  y regulen los desequilibrios excesivos en cuenta corriente.

Si la mayoría de los titulares de Seúl se refieren a disputas sobre divisas y a quién pertenece el déficit o superávit más perjudicial, entonces los líderes se habrán malgastado la oportunidad de llegar al fondo de la cuestión.

En efecto, ese resultado sería un revés para los países en desarrollo y afectaría posiblemente la legitimidad del G-20 como agente de inclusión de la cooperación económica y financiera en la economía mundial.
 


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