Suchergebnisse

. ; Synopsis: Among the most successful cases of economic growth and development in the last 50 years, and with Milton Friedman describing it as 'a laboratory experiment in free market capitalism', Hong Kong – for neo-classical theory - has attained iconic status. This interpretation of Hong Kong as a free market success story, however, was only possible by ignoring key factors (such as state-owned land and subsidies to capital accumulation) that did not fit with neoclassical assumptions. This talk will critically interrogate the neoclassical explanation in order to show that government intervention has been much more significant to Hong Kong's development story than neoclassical theory could countenance. Among other things, it will explore the reasons for such intellectual 'silences' and point to some of the wider implications of these lacunae for neoclassical prescriptions for growth and development elsewhere. ; Universidad de Málaga. Campus de Excelencia Internacional Andalucía Tech.

The rise of China as an economic and political driver of the global economy is likely to be one of the defining moments of world history. Its dynamism and international expansion are on the verge of creating a critical disruption in the global order that has held sway for over 60 years. As such, China is beginning to reshape the world, presaging a new phase of globalization: a global-Asian era. This new era is likely to be distinct from any of the earlier phases of globalization and China's global footprint, in terms of its business, economic and political actions and their geopolitical implications, is likely to be markedly different from what has gone before. This paper offers a framework by which we can begin to understand the coming global-Asian era (GAE) and some of its consequences, particularly as the latter are surfacing in the developing world. Having discussed the nature and dynamics of the GAE, the paper turns to sketch a series of vectors (trade, aid and energy security) along which the GAE is beginning to impact on developing countries. The paper argues that, at least for these vectors, the Chinese-driven GAE is providing opportunities as well as dangers for national development projects. It concludes by briefly speculating on the viability of the GAE.

The crucial intervening variable in the globalization & inequality-poverty matrix is asserted to be the role of national economic governance to create & sustain forms of national economic governments associated with the maintenance of institutional capacities. The author argues that strategic economic planning continues to be vital to the types of economic structure & forms of economic growth that are most conducive to reducing inequality & poverty. A brief historical narrative discusses the nature of state institutions & their relation to economic growth from the Weberian tradition of bureaucratic incompetence economic governance as related to the cases of South Korea & Malaysia. Recent scholarship of the dramatic poverty reductions in Korea have identified a consequence of improvements in economic growth without significant recourse to anti-poverty or redistribution policies that is contrasted with the explicit anti-poverty & redistribution of policies of the Malaysian development project. The historical contingencies that sustain an institutional apparatus capable of the effective management of the domestic economy in an age of globalization has had the unsurprising result of national development projects that have their own hearings to poverty, inequality, & a reduction of both. Although the conclusion that national economic governance is vital to reducing inequality & poverty runs counter to neoliberal theorizing, and it is a conclusion that demand serious attention from national & international agencies & from the development community at large. References. J. Harwell

Enthält 5 Beiträge