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Index
Cover
Title Page
Contents
Foreword
Acronyms and Abbreviations
Acknowledgments
About the Authors
1 Background and Context
Introduction
Globalization and Global Poverty
Dimensions of Poverty
Income
Health
Education
Empowerment
Working Conditions
Assessment of Dimensions of Poverty
A Historical View
Stages of the Modern Era of Globalization
Modern Globalization and Global Poverty
The Globalization-Poverty Relationship
Trade
Finance
Aid
Migration
Ideas
Areas for Action
Balanced Outcomes to Global Trade Negotiations
Increase Aid, Assistance, and Debt Relief
Enhance the Benefits and Mitigate the Negative Effects of Migration
Support of Global Public Goods
The Purpose of this Book
Notes
2 Globalization and Poverty
Introduction
The Developing World
The Impact of an Expanding Population
GDP Figures of the Developing World
Low- and Middle-Income Countries
Poverty
Definition of “Poor”
Poverty and Global Inequality
The Composition of Poverty
Poverty Indicators: Life Expectancy
Poverty Indicators: Health
Health Deprivation: Infant Mortality
Health Deprivation: Malnutrition
Health Deprivation: Implications of Female Education
A Global Imperative
Trade and Foreign Direct Investment
The Magnitude of Trade and FDI
Sectoral Structure of Exports
Manufacturing Exports
Agricultural Exports
Commercial Services Exports
Capital, Aid, and Remittance Flows
The Role of FDI
The Role of Portfolio Flows
The Role of Foreign Aid
The Role of Remittances
The Role of Trade
Ideas
Ideas for Development
Emerging Middle Ground
Human Rights
Role of Ideas in Globalization
Ways to Measure the Flow of Ideas
Summary
Annex: Low- and Middle-Income Countries, 2004
Low-Income Countries
Middle-Income Countries
Notes
3 Trade
Introduction
International Trade and Its Impact on Poverty
Export Activity
Competition
Productivity Increases: Exports
Productivity Increases: Imports
Access to Foreign Markets
Impact on Health and Safety
Characteristics of Developing-Country Trade
Market Expansion
Role of Trade in Alleviating Poverty
Supporting Rural Incomes: Vietnam’s Rice Sector
Supporting Manufacturing Incomes: Bangladesh’s Clothing Industry
Promise of Technological Upgrading
Competition
Procompetitive Effects: Grameen Bank’s Village Phone Program in Bangladesh
Procompetitive Effects: Cotton Farmers in Zimbabwe
Assessing Effects of Procompetitive Trade
Productivity
Trade and Productivity: Import Side
Trade and Productivity: Export Side
Trade and Productivity: Importance of Learning
Empirical Evidence of Successful Learning
Learning and Skill Levels
Learning for High-Technology Manufacture Exports: The Maquiladora Export Sector
Inward FDI
Mauritius: Example of Trade-Supported Productivity Increase
Market Access
Tariffs
Tariff Levels
Tariff Escalation
Subsidies
Quotas
Standards and Regulations
EU Food Standards
Facing Rising Standards and Increasing Regulations
Security Checks
Trade Protectionism: Costs for Developing Countries
The Primary Product Problem
Commodity Prices
Commodity Price Declines
Impact of Protectionist Policies
Impact of Foreign Aid
Trade-Related Capacity Building
Aid and Trade: A Complementary Relationship
Needs of Developing Countries: Capacity Building
Promises of the Developed Countries and the WTO
Health and Safety
Trade in Arms
Trade in Hazardous Waste
Export Production Processes and Health
Cost of Generating Income: Health and Safety Compromised
Illegal Trade
Conclusions
Trade Protectionism: A Barrier to Alleviating Poverty
Commodity Price Declines
Capacity Building
Trade: Impact on Health and Safety of the Poor
Trade Liberalization
Notes
4 Finance
Introduction
Capital Flows and Balance of Payments
Capital Flows: Classifications
Foreign Direct Investment
Equity Portfolio Investment
Bond Finance
Commercial Bank Lending
Impact of Capital Flows
Recent Trends
Capital Flows to Low-Income Countries
Commercial Bank Lending as Primary Source
Increase in Significance of FDI
Unreliability of Portfolio Investment
Capital Flows to Middle-Income Countries
Reasons for Increase in Capital Flows
Capital Flows as a Percentage of GDP
Summary of Evolution of Capital Flows
Financial Development
The Developing World as Exporter of Capital
Financial Markets: Global and Domestic Capital Flows
Impact of Global Capital Flows
The Importance of Domestic Savings
Flight Capital
Financial Market Failures
Asymmetry of Information in Financial Markets
Credit Rating Agencies
Role of Government Failure in Financial Market Failure
Role of Foreign Short-Term Lending in Financial Market Failure
Impact of Market Failure on Poor People
Financial Sector Reforms
Foreign Direct Investment
FDI Recipient Countries
Multinational Enterprises
Potential Benefits of MNEs to Host Country: Technology Transfer
Benefits from Local Source Inputs
Benefits from Spillover Effects
Factors that Determine Spillover Effects
Learning and Education
Wages
Avoiding the Low-Income, Low-Skill Trap
Costs of Hosting FDI
FDI and Poverty Alleviation: An Assessment
Equity Portfolio Investment
Reasons for High Equity Portfolio Impact
Role of Equity Market Prices
Features of Developing-Country Equity Markets
Development of Equity Markets
The Promise of Portfolio Equity for Poverty Alleviation
Debt: Bond Finance and Commercial Bank Lending
Bond Finance
Commercial Bank Lending
Supporting the Development of Banking Sectors
Debt Flows Compared with Equity Flows
Summary
Long-Term Trend of Financial Development
Absorptive Capacity Requirements
Impact of Fiscal Imbalance in the United States on Poverty Alleviation
Notes
5 Aid
Introduction
A Brief History of Aid Flows
Colonial Nature of Early Foreign Aid
Tied Nature of Early Foreign Aid
Modern Foreign Aid in the Wake of World War II
Foreign Aid and the Cold War
Foreign Aid after the Cold War: Poverty Reduction Efforts
Modern Goals of Development Assistance
The Multifaceted Impact of Aid
Kinds of Aid: Disaster Relief and Transition
Kinds of Aid: Adjustment Programs
Rethinking Development Models and the Role of Aid
The Importance of Public Policy
Improving the Effectiveness of Aid
Assisting Weak States
Approaches for Post-Conflict and Weak States
Experience of Sub-Saharan Africa
Aid for Post-Conflict Countries in Need of Reform
Innovative Aid Programs
Onchocerciasis Control Program (OCP)
The Green Revolution
African Economic Research Consortium (AERC)
Easing the Burden of Debt
Components of Foreign Debt
Build Up of Unsustainable Debt in Highly Indebted Countries
The Debt Crisis
International Debt Relief Efforts: HIPC Initiative
The Millennium Development Goals and Donor Coordination
A New Way Forward
Notes
6 Migration
Introduction
A Brief History of World Migration Flows
Sources of Migrants in the Age of Mass Migration
Asian Migration in the Colonial Era
The Decline of the Age of Mass Migration
The Fall and Rise of Migration Flows in the 20th Century
Legal Framework of Modern Migration
Structure of Migrant Flows
A Typology of Contemporary International Migration Flows
Permanent Settlers
Economic Migrants
Family Migrants
Highly Skilled Expatriates
Competition for Highly Skilled Expatriates
High-Skill Expatriate Visas as a Route to Permanent Residency
Low-Skilled Expatriates
Low-Skill Expatriates in Oil-Exporting Countries of the Middle East
Low-Skill Expatriates in East Asian Countries
Abuse and Exploitation of Low-Skilled Migrants
Asylum Seekers
Changes to the Asylum System at the End of the Cold War
Controversy of the Asylum System
Remittances of Asylum Seekers
Refugees
Distinction between Refugees and Asylum Seekers
Demands on the Refugee System
Undocumented Migrants
Voluntary Undocumented Migrants
Human Trafficking
Visa-Free Migration
Students
Understanding the Decision to Migrate
Costs of Migration
The Migration Hump
The Role of Information in Migration Decisions
Chain Migration
Impact of Source Country Pressures on Emigration
Benefits and Costs for Source Countries
Brain Drain
Impact of Brain Drain on Capacity
Impact of Brain Drain on Heavily Populated Countries
Wealth Transfer from Brain Drain
Impact of Brain Drain on Training
Brain Drain and Foreign Direct Investment
Remittances
Impact of Remittances on Small Countries
Improving the Development Impact of Remittances
Improving Efficiency of Remittance Channels
Benefits and Costs for Destination Countries
Fiscal Impact of Migration on Destination Countries
Role of Migration in Sustaining Pension Systems
Effect of Immigration on the Labor Market
Impact of Migration on Wages
Skilled Migration and Innovation
Employment of Low-Skilled Migrants
Protecting the Vulnerable
Exploitation of Undocumented Migrants
Effects of High-Skilled Migration on Source Countries
Refugees and Asylum Seekers
Summary
Annex: Sources and Methodology for Table 6.3
Notes
7 Ideas
Introduction
The Power of Ideas
Bad Ideas
Identifying and Adapting Useful Ideas
Global Economy and the Market System
Flow of Ideas
Implications of Ideologies
Ideas of Destiny
Context of Ideas about Human Rights
Global Governance System
Civil Society Organizations (CSOs)
Contagion and Unpredictability of Ideas
Ideas and Development
The Power of Ideas
Innovations in Growth Theory
Capacity to Absorb, Evaluate, and Adapt Ideas
Managing Knowledge
Characteristics of Knowledge
Addressing Knowledge Gaps
Addressing Information Gaps
Disseminating Knowledge
Information and Institutional Reform
Effect of the Media
Effect of Education and Training
Intellectual Property
Public Good Characteristics of Knowledge
Intellectual Property Rights Controversy
The Role of Intellectual Property Rights
Reach of Intellectual Property Protection
Patents
Pharmaceuticals and Patent Rights
Boosting Investment in Research
Meeting the Challenge of HIV/AIDS
Intellectual Property Protection for Traditional Knowledge
Reform of Intellectual Property Arrangement
Global Brands
Ideas About the Roles of States, Markets, and Institutions
Evolution of the Development Community’s Ideas on Economic Management
Phase One: Confidence in Government
Phase Two: Primacy of Markets
Phase Three: Importance of Institutions
Current Thinking: Complementarities Between Markets and Governments
No Single Model for Development
Ideas about Economic Growth
Economic Growth as Force for Reducing Poverty
Market Model as Organizing Principle
Interplay of States and Markets
Development as Learning
Elements of the Political Economy of Reforms
Governance and Institutions
The State as a Complement to the Market
The Role of the Private Sector
Problems for Investment Climate
The Role of Empowerment
Ownership of the Development Agenda
Infrastructure
Education and Health
Good Governance
Gender Equality
Geography
The Challenge of Reform for Growth
Where to Focus Efforts
Sustained Growth, Not Spurts
Adaptation and Customization
Elements of Successful Empowerment
Evolution of Development Thinking
Global Public Goods
Demand and Supply of Global Public Goods
Action that Can Yield Large Global Benefits
Fighting Infectious and Communicable Diseases
Improving the Global Environment
Promoting Orderly Cross-Border Movement of Goods and Services
Encouraging Global Financial Stability
Creating and Disseminating Knowledge on Development Issues
The Challenge of Cooperation
Summary
Connection of Flows of Ideas and Other Elements of Globalization
Importance of Knowledge Management
Ideas about Growth and Development
Central Role of Learning
Notes
8 Toward a Policy Agenda
Introduction
Globalization for Poor People?
Policy Recommendations
Levels of Policy Enactment
Interaction of Levels in Policy Making
Globalization and Policy Formation
Trade: Proposed Policy Changes
Market Access
Agricultural Subsidies
Recommendations
Increased Market Access: Consequences
Trade-Related Capacity Building
Capacity Building: Consequences
Capacity Building Efforts Underway
Capacity Building: Infrastructure and Software
Capacity Building: Negotiation
Arms Trade
Forced Labor
Finance: Proposed Policy Changes
A Heterodox Approach to Capital Account Reform
Corporate Social Responsibility, Standards, and Transparency for MNEs
Extractive Industries
Guidelines for Behavior of MNEs
Foreign Aid: Proposed Policy Changes
Increasing International Aid
Untying International Aid
Harmonization, Alignment, and Predictability
Increased Evaluation and Knowledge Sharing
Debt Relief
Determinants of Countries Eligible for Increased Debt Relief
Migration: Proposed Policy Changes
Multilateral Coordination of Migration Policy
Multilateral Coordination Avenues
Strengthening the Voice of Migrants
Temporary Movement of Workers
Managing the Brain Drain
Impact on Donor and Host Countries
Policies of Restricting Recruitment
Incentives that Capture Costs and Benefits
Reducing Brain Waste
Enhancing Diaspora Benefits
Managing Remittances
Remittance Flows
Financial Infrastructure Support for Remittances
Policies to Enhance Impact of Remittances
Need for Research
Research and Data
Ideas: Proposed Policy Changes
Increasing the Voice of Developing Countries
Effectiveness of Global Institutions
Country Voice on the Global Level
Need for Inclusive Solutions
Knowledge Management
Policies for Enhancing Knowledge Acquisition
Including Poor Communities in Knowledge Sharing
Communication, Knowledge, and Risk Management
The Knowledge Assessment Methodology
Further Intellectual Property Harmonization
Establishing Rights to Key Pharmaceuticals
Increased Technology Transfer to Developing Countries
A Global Policy Checklist
Summary and Assessment
Engines of Progress
Peace and Security
Coherence
Hope and Tasks for the Future
Notes
References
Index
Back Cover
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