Globalization for Development - Revised Edition: Trade, Finance, Aid, Migration and Policy by Ian Goldin -- Read -- Imperial Library of Trantor

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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