Development (concl.); Security POS 304

The East Asian ‘Economic Miracle’ Japan https://www.youtube.com/watch?v=c1QcjsjjtRc South Korea, Taiwan, Singapore, and Hong Kong Southeast Asian economies such as Malaysia, Indonesia, and Thailand ‘Outward-oriented’? Authoritarian developmental state? Political culture?

https://www.youtube.com/watch?v=Km6bFBSVty4

China

India 1991- https://www.youtube.com/watch?v=cPZnbHbaaSw&t=5984s https://fred.stlouisfed.org/series/RGDPNAINA666NRUG

The developmental state and the 1997 AFC https://www.youtube.com/watch?v=spHRcz4NGSY 1997 Thai baht Contagion: Indonesia, Malaysia, South Korea, the Philippines, and Singapore Liberal vs realist interpretations

The World Bank’s development strategies first phase from 1945 to the late 1960s: large infrastructure projects in LDCs to provide transportation and communication facilities, ports, and power projects. 1970s basic needs approach: health, educational, and family planning services for the poor; women and the least developed countries; increased lending for agricultural and rural development, low-cost urban housing, and primary and nonformal education.

1980s foreign debt crisis: IMF and WB structural adjustment loans (SALs) 1980s ‘Washington Consensus’: democracy, free markets, dominant private sector, free trade. SAL conditions: control inflation, decrease government spending, balance budgets, privatize state-owned enterprises, deregulate financial and labor markets, and liberalize trade and investment policies.

Studies of Structural Adjustment Policies (SAPs) “the performance of poor compliers deteriorates over time and is significantly worse than the performance of countries that comply” with the SAP conditions

a second study found that LDCs following World Bank structural adjustment policy conditions most closely “failed to grow as quickly as several less compliant African economies during the same period”

A third study: SAPs “over the past decade are leading to the destruction of the [African] continent … with the failure of the state being an immediate outcome and environmental deterioration being devastating in the long run.”

SAPs were most effective in middle-income LDCs that export manufactures, such as Brazil, Morocco, the Philippines, South Korea, Thailand, and Uruguay: institutions and resilience. However, the effects of SAPs on the poorest LDCs and the poorest groups within LDCs were a more contentious issue.

Africa’s ‘lost decade’ More than two-thirds of African states received SALs in the 1980s, but during that decade per capita growth in Africa contracted at an annual rate of 2.2 percent, external debt tripled, and debt service payments accounted for 25 percent of goods and services exports. Per capita income at the end of the 1980s was lower than it had been in 1960, and government deficits rose from 2 percent in 1980 to more than 6 percent at the end of the decade.

Late 1980s to 1994 In 1989 the Bank “explicitly acknowledged for the first time” that Africa’s problems “had political as well as economic roots,” and that Africa needed to have better government. WB 1991 World Development Report: “governments need to do more in those areas where markets cannot be relied upon” such as health, education, family planning, and poverty alleviation. However, state intervention had to be market-conforming to have a positive developmental impact, and “governments need to do less in those areas where markets work, or can be made to work.”

The Wolfensohn Period: 1995 to 2005 James Wolfensohn Corruption HIV/ AIDs programs role of women in the Bank’s professional staff and in LDCs more WB leadership as a source of information on development ideas Joseph Stiglitz as senior economist

1997 World Development Report state minimalism “is at odds with the evidence of the world’s development success stories,” development requires “an effective state, one that plays a catalytic, facilitating role, encouraging and complementing the activities of private businesses and individuals.”

Paul Wolflowitz 2005-2007: tenure marked by controversy and ended prematurely Robert Zoellick 2007-2012 2008 GFC: large increase in WB capital in return for increased voting power of some emerging economies. also increased representation of LDCs in the professional staff, and emphasized that LDCs should play a more active role in setting their own priorities. 2012- Jim Yong Kim

Security Is Globalization making the world less safe?

https://www.youtube.com/watch?v=hDODC0mgQ68 https://www.youtube.com/watch?v=XxumsOQMxLE https://www.youtube.com/watch?v=FinRqCocwGE

Naim’s ‘Five Wars of Globalization’ What are Naim’s ‘Five Wars’? How are they affected by Globalization? How have governments responded? Who is winning? How should governments respond?

Carmel How has trade changed since the 20th C? What vulnerabilities does Carmel identify in the global trade system?

Gartzke’s ‘capitalist peace’ What is it? Do you agree?