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LEAST DEVELOPED COUNTRIES, LANDLOCKED DEVELOPING COUNTRIES AND SMALL STATES IN THE GLOBAL ECONOMIC SYSTEM T.N. Srinivasan Samuel C. Park Jr. Professor.

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Presentation on theme: "LEAST DEVELOPED COUNTRIES, LANDLOCKED DEVELOPING COUNTRIES AND SMALL STATES IN THE GLOBAL ECONOMIC SYSTEM T.N. Srinivasan Samuel C. Park Jr. Professor."— Presentation transcript:

1 LEAST DEVELOPED COUNTRIES, LANDLOCKED DEVELOPING COUNTRIES AND SMALL STATES IN THE GLOBAL ECONOMIC SYSTEM T.N. Srinivasan Samuel C. Park Jr. Professor of Economics Yale University, New Haven, CT USA Prepared for the Conference on Global Partnership for Development organised by CUTS and FICCI in association with the Department of Commerce, Government of India, the Commonwealth Secretariat and the India Office of the World Bank New Delhi, India -- August 12-13, 2008

2 1. Introduction 2. Trade, Growth and Poverty Reduction 3. Salient Characteristics of Least Developed Countries 4. Cooperation Between the Developed and Developing Countries 5. Doha Round of Multilateral Trade Negotiations 6. Making Global Partnership for Development More Effective: Some Recommendations

3 1. INTRODUCTION Wide recognition of the Development Challenge in Least-Developed Countries (LDCs), Small Island States (SIDs), and Small Vulnerable States (SVS) Establishment of the UNORHLLS by the UN General Assembly in 2001 Enormous diversity among countries in each group (Tables 1.1–1.5)Tables 1.1–1.5 International Meetings and Declarations Recognition of the needs of LDCs and Small Economies in the Doha Declaration Consensus on the broad objective of assisting them in achieving greater and more effective participation in the global economic system, particularly of trade in goods, services, finance and technology Consensus on the goal does not necessarily imply either a consensus on the constraints on reaching the goal or on the means for easing the constraints Constraints largely domestic and of political economy

4 2. TRADE, GROWTH AND POVERTY REDUCTION Increasing integration of developing countries in the global economic system through the process of globalization Waves of globalization Direct and Indirect Effects of Globalization on poverty reduction Linkages in economic theory: Globalization and Growth Growth and Poverty Growth and Inequality Other Links – Factor markets, prices, insurance Domestic and foreign distortions Globalization and Poverty Reduction – Empirical Evidence Cross-countries studies Country case studies Institutions Globalization for the poor

5 3. SALIENT CHARACTERISTICS OF LEAST-DEVELOPED COUNTRIES Criteria for grouping Implications of the criteria Theory of comparative advantage and small and vulnerable states

6 4. COOPERATION BETWEEN DEVELOPED AND DEVELOPING COUNTRIES TO STRENGTHEN THE LINKS BETWEEN TRADE, GROWTH AND POVERTY REDUCTION Temporal and spatial heterogeneity of the links and their strength Growing doubts on the benefits of globalization in developed countries Historical ambivalence of developing countries towards trade openness and multilateral trade agreements Developing countries in the WTO Accelerating and sustaining growth in LDCs and small economies The voice of LDCs in international organizations and negotiations

7 5.PROGRAMMES OF ACTION FOR THE LDCs Integrated framework Programmes of Action of UNCTAD Aid-for-Trade

8 6. DOHA ROUND A Development Round? Collapse of the informal meeting of the WTO Ministerial, July 28, 2008 Is there a way forward?

9 7. MAKING GLOBAL PARTNERSHIP FOR DEVELOPMENT MORE EFFECTIVE: SOME RECOMMENDATIONS Is there, and can there possibly be, a global partnership for development? A realistic approach focused on specific issues and a coalition of interested parties on the issues Reforms: A smaller World Bank catering only to needs of developing countries not having access to world capital flows An IMF with a focus only on global financial systems stability and coordinating macroeconomic policies Reform of the governance of both the Bank and the Fund Reform of the WTO: Capacity Building Dispute Settlement Role-Making Keeping non-trade-related issues out Resisting Preferential Trade Agreement Fairness of the Global Trading System

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11 Table 1.2: Least-Developed Countries CountryValue Population (2006, in millions) MinKirbati0.1 MaxBangladesh156 GNI Per Capita (2006) MinBurundi100 MaxEquatorial Guinea8,510 PPP GNI per capita (2006) MinLiberia260 MaxEquatorial Guinea16,620 Growth GDP per capita ( ) MinEquatorial Guinea-7.8 MaxMaldives21.5 Trade: Merchandise (2006, as % of GDP) MinCentral African Republic24.1 MaxLesotho144.5 Trade: Services (2006, as % of GDP) MinBangladesh5.9 MaxGambia36.4 FDI: Net Inflow (2006, as % of GDP) MinLiberia-13 MaxEquatorial Guinea19.3 FDI: Net Outflow (2006, as % of GDP) MinGuinea-Bissau-2.8 MaxAngola0.4

12 CountryValue Population (2006, in millions) MinSt. Kitts & Nevis0.048 MaxGuatemala13 GNI Per Capita (2006) MinSolomon Islands690 MaxTrinidad & Tobago12,500 PPP GNI per capita (2006) MinPapua New Guinea1,630 MaxTrinidad & Tobago16,800 Growth GDP per capita ( ) MinGrenada-0.8 MaxTrinidad & Tobago11.6 Trade: Merchandise (2006, as % of GDP) MinGuatemala50.8 MaxGuyana166 Trade: Services (2006, as % of GDP) MinGuatemala8.7 MaxMauritius47.2 FDI: Net Inflow (2006, as % of GDP) MinPapua New Guinea0.6 MaxSt. Kitts & Nevis42.3 FDI: Net Outflow (2006, as % of GDP) MinTrinidad & Tobago-2.3 MaxJamaica0.9 Table 1.3: Small Vulnerable Economies

13 CountryValue Population (2006, in millions) MinMontenegro0.601 MaxEthiopia77 GNI Per Capita (2006) MinBurundi100 MaxBotswana5,570 PPP GNI per capita (2006) MinZimbabwe170 MaxBotswana11,730 Growth GDP per capita ( ) MinZimbabwe-6 MaxAzerbaijian33 Trade: Merchandise (2006, as % of GDP) MinCentral African Republic24.1 MaxSwaziland160.9 Trade: Services (2006, as % of GDP) MinZambia8.3 MaxMongolia32.2 FDI: Net Inflow (2006, as % of GDP) MinAzerbaijian-2.9 MaxSerbia16 FDI: Net Outflow (2006, as % of GDP) MinRwanda-0.6 MaxAzerbaijian : Landlocked Developing Countries

14 Table 1.5: Small Island Developing States CountryValue Population (2006, in millions) MinPalau0.02 MaxCuba11 GNI Per Capita (2006) MinGuinea-Bissau190 MaxSingapore28,730 PPP GNI per capita (2006) MinGuinea-Bissau460 MaxSingapore43,300 Growth GDP per capita ( ) MinTimor-Leste-6.7 MaxMaldives21.5 Trade: Merchandise (2006, as % of GDP) MinHaiti44.5 MaxSingapore386.2 Trade: Services (2006, as % of GDP) MinTrinidad & Tobago9.5 MaxSingapore91.6 FDI: Net Inflow (2006, as % of GDP) MinTonga-0.91 MaxSt. Kitts & Nevis42.3 FDI: Net Outflow (2006, as % of GDP) MinGuinea-Bissau-2.8 MaxSingapore6.5 Back


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