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Spending on advertising booming in emerging markets

The Financial Times reports that advertising spending in the developing world is soaring. The US leades the way, but:

…the next six biggest contributors to the increase are, in order: Brazil, Russia, India, China, Saudi Arabia and Indonesia… Together, these markets account for about a third of the growth in global advertising.

The ethical economist

Joseph Stiglitz has a lengthy review of Benjamin Friedman’s ‘The Moral Consequences of Economic Growth’ in the most recent issue of Foreign Affairs – which is equal parts book review and Stigltiz op-ed. While admitting that many of the arguments are compelling, Stiglitz points out that the type of growth matters as much as the amount.

New private infrastructure research

Cleaning out the inbox, some recent publications on private participation in infrastructure (PPI):

1) An excellent new research database on the economic performance of infrastructure

2) ‘Coercive isomorphism’ and the political backlash against PPI

Cambodia goes organic

From the BBC:

With the future of the garment sector uncertain, Cambodia is looking for other sources of income - and one of the areas under consideration is organic farming. The government says it hopes the country could become the "green farm of Asia", and export its produce to Europe and the United States.

But there are co-ordination problems to overcome:

Land markets: promoting development by improving access

LandmarketsvptLand markets that allow access to land—and to buildings—through secure property rights, at transparent prices, and with efficient permitting processes and land tax systems are essential to a good business environment.

A pay rise for European cows

Johan Norberg:

I often use the figure that a European cow gets $2 a day in subsidies - more than the average income of 2.7 billion people around the world. Now thing have changed. Europe´s cows have had a pay rise. Oxfam´s calculations show that they used to get $2.20 a day, but in 2003, they got $2.62.


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