Economics

Is there a new Washington Consensus? An analysis of five World Development Reports.

Duncan Green - November 3, 2017

Alice Evans earns my undying admiration (and ubergeek status) by casually revealing that she has read the last 5 WDRs on the day of their publication. Here she summarizes what they show about the Bank’s evolving view of the world. A new Washington Consensus is emerging… It recognises complexity, context, learning by doing, politics, and ideas. Hitherto fringe perspectives have become mainstream – embraced by …

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Is inequality going up or down?

Duncan Green - November 2, 2017

My Oxfam colleague and regular FP2P contributor Max Lawson sends out a weekly summary of his reading on inequality (he leads Oxfam’s advocacy work on it). They’re great, and Max has opened his mailing list up to the anyone who’s interested – just email max.lawson@oxfam.org, with ‘subscribe’ in the subject line. Here’s his latest effort – a long, but excellent overview on the latest debates …

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This Week in Africa: an amazing weekly links round-up

Duncan Green - October 21, 2017

If you’re interested in more or less anything to do with Africa, check out ‘The Week in Africa’, an extraordinarily comprehensive round up of links by weekly email, put together by Jeff (American) and Phil (Zimbabwean) and hosted by the University of San Francicso. Sign up here. Here’s this week’s bulletin: QUOTE OF THE WEEK “We have never seen such devastation. Not even in our …

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Achilles v Ulysses and Complexity, according to the OECD

Duncan Green - October 12, 2017

Just been browsing a new OECD book on what complexity and systems thinking mean for policy-making. It consists of ‘a compilation of contributions from a series of seminars and workshops on complexity issues over the past two years. It reflects the combined wisdom and perspectives of an internal and external network of researchers, academics and policymakers.’ The pieces are short (couple of pages each) and come …

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What should the IMF do differently in Fragile/Conflict States?

Duncan Green - October 5, 2017

Took part in a really interesting discussion about the role of the IMF in fragile states last week. Chatham House rule, so no names, no institutions. The Fund works in fragile states in 3 main ways – it lends money to governments, it trains officials and it tracks and reports on government economic performance (‘surveillance’). Although its lending is often not big compared to other …

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What does Artificial Intelligence mean for the future of poor countries?

Duncan Green - September 22, 2017

What do the multiple overlapping new technologies currently breaking in tsunamis over the world’s economies and societies mean for the future of low and middle income countries (LMICs)? Last week I went along to a seminar (Chatham House Rule, so no names) on this topic, hoping for some interesting, preferably optimistic ideas and examples. I came away deeply, deeply worried. Houston we have a very …

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Two top authors compared: Hossain on Bangladesh and Ang on China

Duncan Green - September 21, 2017

OK, so this week I’ve reviewed the two important new books on the rise of China and Bangladesh. Now for the tricky bit – the comparison. The books are very different in their approach. Where Yuen Yuen Ang focuses on the ‘how’ in China, Naomi Hossain is more interested in the ‘why’ in Bangladesh. Hossain traces the ‘why’ to the critical junctures that littered Bangladeshi’s …

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Book Review: How China Escaped the Poverty Trap, by Yuen Yuen Ang

Duncan Green - September 20, 2017

Update: this review is now available in Chinese Following on from yesterday’s book review on an account of Bangladesh’s success, here’s a great book on another developmental superstar – China. The macro-story on China is well known, but always bears repetition. Emerging from the carnage of the Mao era, China in 1980 had a GDP of $193 per capita, lower than Bangladesh, Chad or Malawi. …

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Can the UK become a Human Economy?

Duncan Green - September 15, 2017

Rising inequality is a global problem. Oxfam inequality guru Deborah Hardoon appraises a new report on its manifestations in the UK. Last week the IPPR, a progressive policy think tank, published a new report, ‘A time for change: A new vision for the British Economy’, which argues that “the economy we have today is creating neither prosperity nor justice. This is not inevitable, but the …

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What can we learn from 7 successes in making markets work for poor people?

Duncan Green - September 1, 2017

Hi everyone, I’m back from an August blog break, with lots of great reading to report back on. First up, if you’re even slightly interested in how markets can benefit poor people, I urge you to read Shaping Inclusive Markets, a new publication from FSG and Rockefeller. The 60 page document explains their approach to ‘market systems innovation’, which we discussed at an event in …

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