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This volume presents a broad sweep of modern economic history underpinning aid, trade, development and globalization in the last half century and the salient challenges facing the global community today. The author draws on his long years as an academic and development practitioner to recommend what needs to be done to cope with the backsliding of the fight against global poverty, fractured geopolitics and the threats to the multilateral economic order. The new, revised edition analyses how unilateralism, rising protectionism and the Covid-19 pandemic seriously threaten global sustainable development. It concludes with recommendations on the policy changes needed to make globalization more equitable and development more sustainable. This book will be of interest to researchers and students of economic development and economic history, as well as all those concerned about global inequality and sustainability.

This book explores Jamaica's contemporary relationship with the International Monetary Fund since 2010. It looks at Jamaica's high debt and its inability to access financial support amidst international capital market restrictions, contextualizing harsh socio-economic realities. This book discusses Jamaica's second return to the IMF and the resulting network of actors, governance and political and socio-economic efforts to re-engender a relationship with a “new'IMF. Credibility was restored, demonstrated by and leading to the successful implementation of the 2013 Extended Fund Facility and subsequent exit to a Precautionary Stand-By Arrangement in 2016. Clarke and Nelson signal from their analyses lessons learned, discussing the economic prognosis for Jamaica as well as their relationship with the IMF under the shadow of the COVID pandemic.

This book contains papers addressing the major problems and possible reforms in the international monetary and financial system from the perspective of developing countries. Among the issues addressed are global macroeconomic management, international liquidity, volatile private capital flows, structural adjustment, governance in the IMF and World Bank, the role of the regional development banks, and the potential for developing country cooperation.

This book evaluates Bangladesh's impressive economic and social progress, more often referred to as a ‘development surprise'. In doing so, the book examines the gap in existing explanations of Bangladesh's development and then offers an empirically informed analysis of a range of distinctive factors, policies, and actions that have individually and collectively contributed to the progress of Bangladesh. In an inclusive way, the book covers the developmental role, relation, and impact of poverty reduction, access to finance, progress in education and social empowerment, reduction in the climatic vulnerability, and evolving sectoral growth activities in the agriculture, garments, and light industries. It also takes into account the important role of the government and NGOs in the development process, identifies bottlenecks and challenges to Bangladesh's future development path and suggests measures to overcome them.By providing an inclusive narrative to theorize Bangladesh's development, which is still missing in the public discourse, this book posits that Bangladesh per se can offer a development model to other developing countries.

This volume represents a cornucopia of research studies coming out of an international conference held in Kigali, Rwanda in 2018. The essays comprise contributions on various microeconomic and macroeconomic policy angles that are crucial for a less developed economy to embark on a road to recovery to converge with the desired trajectory. The topics encompass a broad range of issues like the role of savings, capital formation, human capital, innovations, entrepreneurship, profit-shifting by multinational corporations, small and medium enterprises (SMEs), and firms'strategies for achieving sustained and balanced growth. The chapters are organized under three major themes based on the commonality of areas that they cover: (i) Macroeconomic Constraints: Monetary Policy, Investments, and Population; (ii) Firms'Performance, SMEs, and Role of Entrepreneurship; and (iii) Entrepreneurship and Business Performance: Strategies and Policies. It has a collection of 12 empirical studies that havean overall focus on macroeconomic policies such as savings among the rural poor; sustained investments in and development of capital markets; role of entrepreneurial sustainability; role of innovations for firms'performance; healthcare reforms; the benefits of technology, policy incentives such as tax benefits for promoting growth, and strategic considerations such as marketing or positioning strategies; export strategies; and productivity enhancement via processing and profit sharing. With contributions from 27 authors, the studies bring forth knowledge about the factors that influence well-being via better technologies and innovations favoring productivity, firm performance, and their positive externalities in the food, nutrition, and health sectors. Given the wide-ranging coverage of top-down and bottom-up approaches and strategies for development, the book offers insights for policy interventions necessary for Rwanda's gradual transition from agriculture to an industrial transformation via manufacturing and service-led development without smokestack industries.

A response to the pressing need to address and clarify the substantial ambiguity within current literature, this edited volume aims to deepen readers'understanding of the impact of foreign aid on development outcomes based on the latest findings in research over the past decade. Foreign aid has long been seen as one of two extremes: either beneficial or damaging, a blessing or a curse. Consequently, many readers perceive aid's effectiveness based on the work of scholars who are assessing the impact of aid from one of two antithetical perspectives. This book takes a different approach, shedding light on recent research that can deepen our understanding of the complex relationship between aid and its aftereffects. Drawing from an extensive set of studies that have explored micro and macro impacts of foreign aid for recipient nations, chapter authors highlight more layered and nuanced findings, with a focus on donor characteristics, political motives, and an evaluation of aid projects and their effectiveness, including the differential impact based on type of aid. This volume is the first of its kind to unpack aid as a complex rather than a unitary concept and explore the wide areas of grey that have long enshrouded foreign aid.

This book presents stimulating new perspectives on three key sets of issues: a fair globalization, the policies that might be adopted in response to protectionist pressures, and sustainable development policies involving G7 and G20 actions to lay the foundations for renewed trust. The individual topics addressed within this framework are wide ranging. Examples include globalization and national inequality, globalization and policies for inclusive growth in developing countries, the sources of controversies regarding trade agreements and their effects, the impact of new U.S. commercial policies on the world trading system, real convergence in the Euro area, and the causes of Brexit. The book comprises a selection of contributions presented at the XXIXth Villa Mondragone International Economic Seminar. In offering contrasting points of view on topics of high current interest, it will appeal to academics, policymakers, and economic experts at institutions.

This enlightening book offers a comprehensive historical analysis of the main development challenges of the last half century and the international community's response through aid and trade. Much has happened: the oil crises of the 1970s, the debt crises of the 1980s, the break-up of the Soviet Union in the 1990s, the Millennium Development Goals, the onslaught of Globalization and the rise of its opponents since the financial crisis of the 2000s. Through it all, development has spread and global poverty declined. The volume assesses the contributions and coherence of developing and developed country policies and the role played by global institutions entrusted with responsibilities to enhance trade and support development. The volume concludes with a focus on the prospects for the future and the changes needed to make globalization more equitable. With 50 years of professional experience in the World Bank, the WTO and bilateral aid agencies, Michalopoulos brings an insider's perspective on the workings of these institutions and what needs to be done to make them more effective and responsive to changing global needs.

This volume brings together a group of authors who share a common concern with the effects of globalization on the South. Included among these effects is the accelerating erosion of the social, economic and political significance of the territorial distinction on which the terms South and North are founded. The authors'aim is explicit: to offer a unique perspective on globalization which places the transformation of the South and the renewed global organization of inequality at the heart of our understanding of the global order.

Through a close examination of India's policies, economic system, social systems and politics, this study explores the numerous perspectives and debates on India's urbanization. The authors link contemporary urban issues with emerging challenges associated with policies and city management.

The global demographic transition presents marked asymmetries as poor, emerging, and advanced countries are undergoing different stages of transition. Emerging countries are demographically younger than advanced economies. This youth is favorable to growth and generates a demographic dividend. However, the future of emerging economies will bring a decline in the working-age share and a rise in the older population, as is the case in today's developed world. Hence, developing countries must get rich before getting old, while advanced economies must try not to become poorer as they age. Asymmetric Demography and the Global Economy contributes to our understanding of why this demographic transition matters to the domestic macroeconomics and global capital movements affect the asset accumulation, growth potential, current account, and the economy's international investment position. This collaborative collection approaches these questions from the perspective of'systemically important'emerging countries i.e., members of the G20 but considers both the national and the global sides of the problem.

This book explores country case studies and works that detail the exact transmission mechanisms through which financial development can enhance pro-poor development in order to derive best practices in this field. This is an important companion for professionals and policymakers, and also a vital reference source for students.

Corporate Strategies for South East Asia After the Crisis presents an in-depth analysis by experts from Europe, Japan and South East Asia who have long-standing research experience in Asian economies and international business. The authors draw upon empirical research to analyze the questions facing multinational corporations active in the region, and go on to examine their strategies in production, marketing and corporate finance. They present a comprehensive overview of the current activities of multinational firms from Europe and Japan in South East Asia. The authors address both questions of international strategy and the role of multinational companies in a global economy, while taking into account how national differences affect strategic decision making. More than an essential reader for business people in Southeast Asia, the book will strongly influence policy makers and all those interested in the shift from national to transnational business.

The politics of international debt have received increasing attention in recent years. However, discussion of the politics of money has focused on Latin American and'third'world countries. So far there has been little treatment of the politics of scarce money and of money as a political category in relation to'advanced'countries. The central theme of the book is the limitations and constraints on state action which arise from the relation between the (nation) state and the global flow of money.

For the large number of developing countries undergoing significant structural transformations, one of the most important and controversial adjustment areas is that of the financial markets. Focusing on the role of the institutional and enabling environment within which financial reform occurs and on the integration of principles of finance with more macroeconomic approaches to the subject, the book contains case studies of reform experiences in Argentina, India, Nigeria, Turkey and Uruguay. Themes studied include the'go slow'versus'big bang'approach and the particular problem of bank-firm inter-linkages in Eastern Europe.