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41. A Different Route: Reimagining the idea of prosperity in Asia

Author:
Maria Dolores Bernabe and Erinch Sahan
Publication Date:
11-2015
Content Type:
Policy Brief
Abstract:
Asia is home to some of the world’s fastest growing economies. Yet millions of people remain poor, while a handful gets richer and richer. Asia needs a development model that leaves no one behind: not the workers and farmers, who act as the driving force behind Asia’s growth – and certainly not the women, who take on the lowest paying jobs in the region. This model must also consider constraints, particularly the earth’s finite natural resources which future generations need to survive. It must move away from carbon dependence and must anticipate and plan for the impacts of climate change. These principles together inform inclusive and sustainable development, which Asian governments can use as a roadmap to transform their societies in an era of vanishing resources and staggering inequalities.
Topic:
Development, Energy Policy, Poverty, Natural Resources, and Inequality
Political Geography:
Asia

42. Global Crises, Equalizing and Dis-equalizing Capitalist Regimes: The Case of 20th Century Asian Political Economy

Author:
Vamsi Vakulabharanam
Publication Date:
04-2015
Content Type:
Working Paper
Institution:
Institute for New Economic Thinking (INET)
Abstract:
The logic of deep global capitalist crises needs to be incorporated centrally into an understanding of the changes in the within-country inequality levels. I present a theoretical framework that incorporates two levels of political economic processes. First, global capitalist crises lead to the creation of an institutional structure or a regime in the capitalist centers that influences inequality in these core countries and in the periphery. Second the class configuration in the non-core countries - a set of institutional arrangements that can be termed local political economy - also plays a key role in determining inequality outcomes. The main argument of this short note is that these two sets of processes interact to produce patterns of within country-inequality that we observe across the world. In the Asian case, high growth was accompanied by declining inequality for a period of three decades after World War 2. However, with the crisis of global capitalism during the 1970s, a new regime was created in the global center that pushed inequalities higher across the world. These changes occurred through the implementation of policy structures that have disproportionately favored urban elites. In the Asian economies too, growth was accompanied by rising inequality after the 1980s. I use these experiences to argue that growth episodes in capitalism that follow effective demand crises (such as the Great Depression) seem to allow for lower within-country inequality. Growth episodes that follow profitability crises by contrast tend to cause increases in the within-country inequality. However, this is not a deterministic frame of analysis, as the recent experience of most countries with austerity policies suggests, even if this recent experience might well be a passing phase.
Topic:
Political Economy, Capitalism, Inequality, Finance, and Crisis Management
Political Geography:
Asia

43. Welfare Analysis of Changing Food Prices: A Nonparametric Examination of Export Ban on Rice in India (pdf)

Author:
Ben Groom and Mehroosh Tak
Publication Date:
01-2013
Content Type:
Working Paper
Institution:
School of Oriental and African Studies - University of London
Abstract:
During the world food crisis of 2007-08, the price of staples soared rapidly. Higher food price impacts poor households more as they spend approximately three quarters of their income on food. Together rice and wheat provide more than 50% of the calorific intake in India. Apart from providing food security, millions of poor and small farmers depend on rice for their livelihoods. Using Indian Consumer Household Expenditure surveys for the years 2007-08 and 2009-10 the paper analyses the welfare generated by a ban on export of rice by the Indian government. The paper finds that the net impact of the ban on export of rice was positive, as it was able to cushion the Indian population (87% of whom are net consumers) from the adverse effects of the crisis. It also found that the poor in India aren’t homogeneous in nature. The majority of the rice-producing households that stand to gain from increased prices are relatively poor farmers. At the same time, the poor households that do not cultivate rice are most affected by price increase, as their budget share of rice is higher than richer households, who are more resilient to price rise. In particular, the wage labourers are affected significantly.
Topic:
Agriculture, Poverty, Food Security, Inequality, Exports, and Welfare
Political Geography:
India and Asia

44. China and World Development beyond the Crisis

Author:
Dic Lo
Publication Date:
10-2010
Content Type:
Working Paper
Institution:
School of Oriental and African Studies - University of London
Abstract:
Recent international opinions on China and world development have focused on the Sino-US economic nexus. The neo-liberal theory of “China causing global imbalances” claims that the particular way through which China has integrated itself into the world market is to the detriment of the economies of the advanced countries. The critical theory of “China facing internal and external dependence”, in contrast, claims that the real victim has been the economic development of China itself and the majority of developing economies. The objective of this paper is to clarify the analytical efficacy of these two theories, and, on that basis, to assess the validity of their implied policies. The paper also seeks to explore into the construction of an alternative policy line that suits better the needs of the social and economic development of China and the developing world.
Topic:
Development, Inequality, Social Policy, and Economic Development
Political Geography:
China and Asia

45. A Half-Century of Development

Author:
Richard N. Cooper
Publication Date:
03-2005
Content Type:
Working Paper
Institution:
The John F. Kennedy School of Government at Harvard University
Abstract:
Development as a global policy objective dates from the 1940s. Relative to expectations then, the world economy performed outstandingly well during the second half of the 20th century. Worldwide growth in average per capita income exceeded two percent a year (historically unprecedented), many poor countries became rich, infant mortality declined, diets improved, longevity increased, diseases were contained if not vanquished. Poverty on the World Bank definition of $1 a day (in 1985$) declined dramatically, and the number of persons in poverty was halved despite a more than doubling of the world population. Variations occurred over time and space, with rapid growth being concentrated in Europe and Japan early in the period, then moving to east Asia, southeast Asia, and south Asia. Growth in the 1950s and especially the 1960s exceeded that in later decades. Examples of high growth could be found in every continent, but on average sub-Saharan Africa fared much less well than other regions. Declines in national per capita income were rare, and concentrated in Africa. Civil disorder was a common but not the universal cause of low growth. Median world income gained relative to the well-off, but both spurted ahead of the poorest. World exports grew more rapidly than output, often leading the way. Many countries gradually shifted their exports from primary products to labor-intensive manufactured goods, and as development proceeded to more sophisticated manufactures and services. The fraction of the labor force devoted to agriculture declined significantly. One country after another achieved social stability, created the right incentives for effort and risk-taking, and engaged constructively with the world economy, which facilitated economic growth. Those that lagged failed to meet one or more of these conditions. Civil and political liberties also spread during this period, although less certainly and less securely. On the whole, it was a good half century for mankind. The substantial poverty and misery that still exists should not lead to neglect or even denial of these achievements.
Topic:
Development, Inequality, Economy, and Economic Growth
Political Geography:
Africa, Japan, Europe, and Asia