Global Interdependence, Privatisation of Risk and Human Development (The Quaid-i-Azam Memorial Lecture)
In: The Pakistan development review: PDR, Band 39, Heft 4, S. 313-336
The paper focuses on how patterns and modes of global
interdependence combined with the privatisation of risk, influence human
development. International finance plays an important developmental
role. However, the privatisation of risk, a result of increasingly
unregulated and liberalised financial markets, tend to create
speculative activities with major negative systemic effects that hinder
positive human development, especially in the developing countries.
However, sustainable human development requires more than financial
stability. Internally oriented socioeconomic and political reforms
(IOSR) are essential for the developing countries, especially in the
present phase of their demographic transition. Such reforms could
provide both resilience and adaptive capacity for societies to cope in
an environment of increased interdependence, the article
concludes.