{"title":"Rethinking International Institutions: A Global South Agenda","authors":"Jonathan A. Burton-MacLeod, Sreeram Chaulia","doi":"10.2139/SSRN.1856688","DOIUrl":"https://doi.org/10.2139/SSRN.1856688","url":null,"abstract":"This report is intended to initiate fresh thinking about old issues; thinking beyond the relationship between the Global North and the Global South to parse the complexities of South-South relations, and how this set of increasingly variegated eveloping countries view the existing set of formal and informal international institutions. The report seeks to uncover patterns of diversity and similarity in Global South voices vis-a-vis these institutions. The major concrete policy recommendation contained in this report is to institute a Standing Committee on International Institutional Reform at the G-77 level, under the aegis of India as a lead convener. It is our sincere hope that such a forum can be created soon, given the rapidly changing power equations between Global North and Global South as well as new relationships emerging within the Global South.","PeriodicalId":355227,"journal":{"name":"Development Economics eJournal","volume":"259 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132064652","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Globalisation, Growth and Convergence","authors":"J. Villaverde, A. Maza","doi":"10.1111/j.1467-9701.2011.01359.x","DOIUrl":"https://doi.org/10.1111/j.1467-9701.2011.01359.x","url":null,"abstract":"This paper, devoted to the study of globalisation, analyses two distinct but closely related issues: First, it aims at evaluating disparities in the degree of globalisation observed in a sample of 101 countries over the period 1970–2005. Second, the paper tries to shed some light to the much debated issue of whether globalisation affects economic growth and, in so doing, whether convergence in globalisation brings about convergence in per capita income. The results obtained are both encouraging: on the one side, as it is shown that there has been a clear process of globalisation convergence; on the other, the paper concludes that globalisation has been one of the main drivers of economic growth, thus fostering convergence in per capita income.","PeriodicalId":355227,"journal":{"name":"Development Economics eJournal","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115148462","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Global Liquidity: Availability of Funds for Safe and Risky Assets","authors":"A. Matsumoto","doi":"10.5089/9781455264452.001","DOIUrl":"https://doi.org/10.5089/9781455264452.001","url":null,"abstract":"What is global liquidity and how does it affect an economy? The paper addresses that question by looking at liquidity from two different perspectives: global liquidity as availability of funds in safe and risky asset markets. This distinction between safe and risky asset markets is important due to market segmentation, which called for unconventional monetary policy to restore a function of risky asset markets. To analyze the effect of global liquidity, I construct proxy variables and then asses how they affect an emerging economy whose interest rate is affected by a world risk-free rate and a risk premium. Using the data from four major Latin American countries, I find that these two aspects of global liquidity have similar effects on economic performance in emerging market economies except for their effect on inflation.","PeriodicalId":355227,"journal":{"name":"Development Economics eJournal","volume":"55 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115996621","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Mobile Banking: The Impact of M-Pesa in Kenya","authors":"I. Mbiti, D. Weil","doi":"10.3386/W17129","DOIUrl":"https://doi.org/10.3386/W17129","url":null,"abstract":"M-Pesa is a mobile phone based money transfer system in Kenya which grew at a blistering pace following its inception in 2007. We examine how M-Pesa is used as well as its economic impacts. Analyzing data from two waves of individual data on financial access in Kenya, we find that increased use of M-Pesa lowers the propensity of people to use informal savings mechanisms such as ROSCAS, but raises the probability of their being banked. Using aggregate data, we calculate the velocity of M-Pesa at roughly four person-to-person transfers per month. In addition, we find that M-Pesa causes decreases in the prices of competing money transfer services such as Western Union. While we find little evidence that people use their M-Pesa accounts as a place to store wealth, our results suggest that M-Pesa improves individual outcomes by promoting banking and increasing transfers.","PeriodicalId":355227,"journal":{"name":"Development Economics eJournal","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127017381","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Monitoring Absolute and Relative Poverty: 'Not Enough' is Not the Same as 'Much Less'","authors":"Geranda Notten, C. de Neubourg","doi":"10.1111/j.1475-4991.2011.00443.x","DOIUrl":"https://doi.org/10.1111/j.1475-4991.2011.00443.x","url":null,"abstract":"Financial poverty indicators assess which people have few financial resources and are thereby at risk of having an unacceptably low living standard. Most countries use one or several official poverty indicators, but they typically use either an absolute or a relative benchmark to determine what is unacceptable; absolute benchmarks are based on basic needs or rights while relative benchmarks depend on what is considered to be a \"normal\" living standard. Applying the absolute U.S. and the relative EU poverty indicators on the U.S. and 15 EU member states, this research shows that it makes sense to use both benchmarks.","PeriodicalId":355227,"journal":{"name":"Development Economics eJournal","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123501977","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Alleviating Extreme Poverty in Chile: The Short Term Effects of Chile Solidario","authors":"E. Galasso","doi":"10.4067/S0718-52862011000100005","DOIUrl":"https://doi.org/10.4067/S0718-52862011000100005","url":null,"abstract":"This paper evaluates the effect of an anti-poverty program, Chile Solidario, during its first two years of operation. We find that the program tends to increases significantly their take-up of cash assistance programs and of social programs for housing and employment, and to improve education and health outcomes for participating households. There is no evidence that the participation to employment program translates into improved employment or income outcomes in the short term. Finally, we provide suggestive evidence of the key role that the psycho-social support had in enabling this change, by increasing awareness of social services in the community as well as households’ orientation towards the future.","PeriodicalId":355227,"journal":{"name":"Development Economics eJournal","volume":"80 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130923561","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Export Quality Dynamics","authors":"P. Krishna, William F. Maloney","doi":"10.1596/1813-9450-5701","DOIUrl":"https://doi.org/10.1596/1813-9450-5701","url":null,"abstract":"Country export quality (measured by unit values) is correlated with income level suggesting that studying quality dynamics potentially offers insights into the development process. This paper uses highly disaggregated trade data to explore the export quality (unit value) dynamics of goods exported to the United States over the 1990-2000 period. In addition to finding considerable heterogeneity in the relative quality of exports across countries and across goods within countries, the authors find that the rate of quality growth varies substantially across countries, as well. Specifically, the fastest growth is seen in exports from the richer (OECD) countries, implying an evolving divergence in product quality across regions. This divergence obtains despite evidence of conditional convergence in quality over time- goods with lower initial relative quality levels experience faster growth in quality. The data suggest that part of this divergence is driven by the product mix itself -- OECD exported products experience intrinsically higher growth rates. This is consistent with the argument of Hausmann, Hwang and Rodrik (2007) that what countries export does matter for growth. However, it is partly driven by a higher growth rate of quality in the richer countries independent of convergence effects, suggesting that other country-specific factors impeding overall convergence are at work. Finally, there is very limited technological\"leap-frogging\"by countries across product lines as the relative quality of new exports, on average, is roughly the same as incumbent exports, both in richer countries and elsewhere.","PeriodicalId":355227,"journal":{"name":"Development Economics eJournal","volume":"576 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123931014","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Greenhouse Gas Emission Reductions and Poverty: A Joint Solution","authors":"P. Brown","doi":"10.2139/ssrn.1633028","DOIUrl":"https://doi.org/10.2139/ssrn.1633028","url":null,"abstract":"This paper describes the design of a new emissions trading scheme which is based on the principle of equity. The scheme is based on the principle that the atmosphere is common property to all humankind, and as such, all people have an unalienable right over air. As such there is little justification for setting emission caps on societies which distribute the right to emit Greenhouse Gasses (GHG) unequally. Accordingly, I propose a global Equitable Allocation of Global Emissions (EAGE) trading scheme as an alternative to current mechanisms. The EAGE scheme relies on a global cap on GHG emissions which would be reduced over time in order to keep atmospheric GHG levels within reasonable limits. The emissions cap is allocated on a globally per person basis, generating EAGE permits and allocating them directly to individuals. People sell their EAGE permits (their right to emit GHGs) directly to organizations via an International EAGE Permit Exchange (IEPE). The EAGE permits are purchased by organizations to offset their GHG emissions, causing prices for high GHG-intensive products to increase. As such, the EAGE scheme penalizes (rewards) individuals and organizations which contribute the most (least) to GHG pollution by increasing the cost of consuming high GHG emission intensive products. The costs of EAGE permits are passed onto the consumers of goods and services, creating a user-pays system of allocating GHG emission rights. As people in poverty are being compensated for giving up their ‘right to emit’, the cash flows to them are based on the principle of exchange. The estimates presented indicate that the EAGE scheme has the potential to reduce poverty for more than two billion people.","PeriodicalId":355227,"journal":{"name":"Development Economics eJournal","volume":"102 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129348697","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"On Mission Drift in Microfinance Institutions","authors":"B. Armendáriz, A. Szafarz","doi":"10.1142/9789814295666-0016","DOIUrl":"https://doi.org/10.1142/9789814295666-0016","url":null,"abstract":"This paper sheds light on a poorly understood phenomenon in microfinance which is often referred to as \"mission drift\": A tendency reviewd by numerous microfinance institutions to extend larger average loan sizes in the process of scaling-up. . We argue that this phenomenon is not driven by transaction cost minimization alone. Instead, poverty-oriented microfinance institutions could potentially deviate from their mission by extending larger loan sizes neither because of \"progressive lending\" nor because of \"cross-subsidization\" but because of the interplay between their own mission, the cost differentials between poor and unbanked wealthier clients, and region-specific clientele parameters. In a simple one-period framework we pin down the conditions under which mission drift can emerge. Our framework shows that there is a thin line between mission drift and cross-subsidization, which in turn makes it difficult for empirical researchers to establish whether a microfinance institution has deviated from its poverty-reduction mission. This paper also suggests that institutions operating in regions which host a relatively small number of very poor individuals might be misleadingly perceived as deviating from their social objectives. Because existing empirical studies cannot differentiate between mission drift and cross-subsidization, these studies can potentially mislead donors and socially responsible investors pertaining resource allocation across institutions offering financial services to the poor. The difficulty in separating cross-subsidization and mission drift is discussed in light of the contrasting experiences between microfinance institutions operating in Latin America and South Asia.","PeriodicalId":355227,"journal":{"name":"Development Economics eJournal","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126460052","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"On India's Plunge into Nanotechnology: What are Good Ways to Catch-Up?","authors":"S. Ramani, N. Chowdhury, R. Coronini, S. Reid","doi":"10.2139/ssrn.1949714","DOIUrl":"https://doi.org/10.2139/ssrn.1949714","url":null,"abstract":"The present paper examines how a developing country like India is competing in the nanotechnology race. Our study shows that both upstream scientific and technological capabilities and downstream regulatory capabilities are being strengthened. India has clearly made a dent in terms of scientific publications (with the main focus being on nanomaterials), in the \"technology market\" its patenting performance (with the principle focus on nanopolymers and nanocatalysts) though not extraordinary is good compared to other emerging economies spending similar amounts. In the \"final products\" market some biotech and ICT incumbents are moving towards nano but the bulk of the new firms are in the field of nanomaterials. These achievements are particularly noteworthy given the much smaller quantity of funds invested by the Indian State as compared to the international leaders in nanotechnology. However, even with these initial optimistic results, the paper casts doubt on whether it is in the interests of economic growth or social welfare that India's science and innovation, and intellectual property policies are being increasingly modeled on the lines of developed countries so as to attempt to compete or collaborate with them without a better re-alignment and functioning of existing capabilities.","PeriodicalId":355227,"journal":{"name":"Development Economics eJournal","volume":"91 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123033966","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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