Frontiers in Development Policy

Raj Nallari

Description

The global crisis of 2008-09 has brought to the forefront a plethora of economic and political policy issues. There is a re-opening of discussion on basic economic concepts, appropriate framework for analysis, role of private and public sectors in the economy, structural transformation of economies, human development and managing of growing risks and crises. The purpose of this book has been to bring home the inter-linkages in various parts of the economy and the need for practical policy making to reach development goals while being aware of the instabilities, complexities and downside risks inherent in the nature of a an economy operating in a globalized world.
Thematically, this book focuses on two core types of policy: policies that promote strong, sustainable and inclusive growth in low income and middle income developing countries and new and emerging policies that necessitates a discussion amongst policy makers and practitioners. Throughout the book, the authors provide insight in to the different types of policy approaches that can be taken to help the economy grow. Ultimately the book looks to foster discussion amongst policy makers on growth and development.

Sujets

• Development aid
• Economic growth
• Financial crisis
• Gross domestic product
• Natural Resources
• Political economy
• Price index
• Commercial policy

Informations

• Publié par: world-bank-publications
• Publié le: 15 septembre 2011
• Nombre de lectures: 42
• EAN13: 9780821387863
• Langue: English
• Poids de l'ouvrage: 2 Mo

Extrait

Frontiers in
Development
Policy
A Primer on Emerging Issues
Raj Nallari, Shahid Yusuf, Breda Griffi th,
and Rwitwika BhattacharyaFrontiers in
Development
PolicyFrontiers in
Development
Policy
A Primer on Emerging Issues
Raj Nallari, Shahid Yusuf, Breda Griffi th,
and Rwitwika Bhattacharya© 2011 The International Bank for Reconstruction and Development / The World Bank
1818 H Street NW
Washington DC 20433
Telephone: [phone]
Internet: www.worldbank.org
All rights reserved
1 2 3 4 14 13 12 11
This volume is a product of the staf of the International Bank for Reconstruction
and Development / The World Bank. The fi ndings, interpretations, and conclusions
expressed in this volume do not necessarily refl ect the views of the Executive Directors
of The World Bank or the governments they represent.
The Wank does not guarantee the accuracy of the data included in this work.
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this work do not imply any judgement on the part of The World Bank concerning the
legal status of any territory or the endorsement or acceptance of such boundaries.
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ISBN: 978-0-8213-8785-6
eISBN8213-8786-3
DOI: 10.1596/978-0-8213-8785-6
Library of Congress Cataloging-in-Publication Data
Nallari, Raj, 1955-
 Frontiers in development policy / by Raj Nallari, Shahid Yusuf, Breda Grif th, and
Rwitwika Bhattacharya.
   p. cm.
 Includes bibliographical references and index.
 ISBN 978-0-8213-8785-6 — ISBN 978-0-8213-8786-3 (electronic) 1. Global Financial
Crisis, 2008-2009. 2. Developing countries—Economic policy. 3. Free enterprise—
Developing countries. 4. Economic development—Environmental aspects—Developing
countries. I. Nallari, Raj, 1955–II. Title.
 HB37172008 .N35 2011
 338.9—dc23
2011025640
Cover: Naylor Design, Inc.CONTENTS
Preface xi
About the Authors xiii
Abbreviations xiv
PART I. DEVELOPMENT CHALLENGES
IN A POSTCRISIS WORLD 1
Section 1. Overview 3
Raj Nallari
Section 2. What Is Development? 9
Breda Griffi th
Section 3. Poverty Traps and the MDGs 25
Breda Griffi th
Section 4. Middle-Income Trap 39
Breda Griffi th
Section 5. Pathways to Development 45
Shahid Yusuf
Section 6. Why Is Development Blocked? 55
Raj Nallari
Section 7. Development Challenges 61
Raj Nallari
Section 8. Political Economy 67
Raj Nallari and Rwitwika Bhattacharya
vPART II. PRIVATE ENTERPRISE AND
DEVELOPMENT 71
Section 9. Overview 73
Shahid Yusuf, Breda Griffi th, and Raj Nallari
Section 10. Firms Are the Prime Movers 79
Shahid Yusuf
Section 11. Industrial Mix, Research Intensity,
and Innovation by Firms 87
Shahid Yusuf
Section 12. Investing in Technology and Human Capital:
An Example from Asia 95
Shahid Yusuf
Section 13. Impact of Regulation on Growth and
Informality 105
Breda Griffi th and Raj Nallari
Section 14. Private Sector Regulation and
Financial Regulation 111
Breda Griffi th and Raj Nallari
PART III. GROWTH AND DEVELOPMENT
STRATEGIES AND RETHINKING DEVELOPMENT 115
Section 15. Overview 117
Breda Griffi th, Raj Nallari, and Shahid Yusuf
Section 16. Why Is Growth Higher in Some Countries? 125
Breda Griffi th
Section 17. The Role for State Intervention 131
Raj Nallari
Section 18. Private Participation in Infrastructure 135
Breda Griffi th
Section 19. Changing Development Paradigms 143
Breda Griffi th
vi Frontiers in Development PolicySection 20. Aid Effectiveness 151
Breda Griffi th and Raj Nallari
Section 21. Enhancing Competitiveness 159
Raj Nallari
Section 22. Land Policy and Effective Use
of Natural Resources 165
Breda Griffi th and Raj Nallari
Section 23. Cities as Engines of Growth 171
Shahid Yusuf
Section 24. Rethinking Macroeconomic Theory 179
Raj Nallari
Section 25. Macro-Fiscal-Monetary Policies 185
Breda Griffi th and Raj Nallari
Section 26. Fiscal Activism 193
Raj Nallari
Section 27. Fiscal Multipliers 201
Raj Nallari
Section 28. Preventing Future Credit Bubbles 205
Raj Nallari
Section 29. Revisiting Exchange Rate Regimes 209
Raj Nallari
Section 30. Reexamining Trade Policy 213
Raj Nallari
PART IV. HUMAN DEVELOPMENT
POLICIES 217
Section 31. Overview 219
Raj Nallari
Section 32. Early Childhood Development:
The First Thousand Days Are Most Important 221
Raj Nallari
Contents viiSection 33. Education Access and Quality:
What We Know and Don’t Know 225
Raj Nallari
Section 34. Health Care Policy 231
Raj Nallari
Section 35. Labor Market Trends 235
Raj Nallari
Section 36. Labor Market Policies 247
Raj Nallari
PART V. MANAGING RISKS 255
Section 37. Overview 257
Raj Nallari
Section 38. Managing the Climate Crisis 259
Raj Nallari
Section 39. The Role of Macroprudential Regulations 263
Raj Nallari
Section 40. Managing Capital Flows 269
Raj Nallari and Ababyomi Alawode
Section 41. Triple Crisis: Rising Food Prices, Global
Financial Crisis, and Climate Change Issues 277
Raj Nallari and Rwitwika Bhattacharya
Section 42. Catastrophes and Economic Growth 283
Raj Nallari and Rwitwika Bhattacharya
Index 287
Figures
2.1 Income and Happiness, 1980s and 1990s 18
2.2 Income and Happiness in the United States 19
2.3 Relationship between Well-Being and Income within
Individual Countries, Gallup World Poll, 2002 20
viii Frontiers in Development Policy