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How China is educating Africa – and what it means for the west

How China is educating Africa – and what it means for the west | Development Economics | Scoop.it
Stephen Chan: In an extract from a new book, China's aspirational approach to education and investment in Africa is distinguished from the west's focus on basic needs
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Going beyond the basic needs approach of the Millennium Development Goals - this article considers what impact Chinese-led investment in African higher education might have on this continent's competitive advantage in the years ahead. For more blog articles on China click here: http://www.tutor2u.net/blog/index.php/economics/C54

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Mr Nelson's curator insight, May 14, 2013 3:49 PM

Interesting article on China's move into Africa

Development Economics
Regularly updated news articles, research features and revision resources on Unit 4 macro development economics
Curated by Geoff Riley
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Income inequality in a globalising world | VOX, CEPR’s Policy Portal

Income inequality in a globalising world | VOX, CEPR’s Policy Portal | Development Economics | Scoop.it
Since the turn of the century, inequality in the distribution of income, together with concerns over the pace and nature of globalisation, have risen to be among the most prominent policy issues of our time. These concerns took centre stage at the recent annual G20 summit in China. From President Obama to President Xi, there was broad agreement that the global economy needs more inclusive and sustainable growth, where the economic pie increases in size and is at the same time divided more fairly.
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The G20’s call for a New Industrial Revolution and what it means for more and better jobs

The G20’s call for a New Industrial Revolution and what it means for more and better jobs | Development Economics | Scoop.it
As the G20 calls for a “new industrial revolution” Huang Phuong Thao of Action Aid Vietnam argues that the international group will need to open up the space to make this revolution a reality. On 5…
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A useful primer for some of the key issues concerning whether developing / emerging countries such as Vietnam and Bangladesh have benefitted in the longer term from joining the WTO and signing up to a raft of free trade agreements.

"Bangladesh has taken liberalisation very seriously. It became a member of the WTO in 1995 and has signed 34 investment agreements. Measured in terms of simultaneous rise in export and import, its openness has doubled in just two decades. But the country is over-reliant on garments, where it is stuck at the bottom rung of the industry’s ladder; this has put a brake on economic development."
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Two economists have developed a new measure that could be an improvement on GDP

Two economists have developed a new measure that could be an improvement on GDP | Development Economics | Scoop.it
A paper by economists Charles Jones and Peter Klenow of Stanford University develops a new measure of economic welfare that moves beyond GDP.
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Two economists at Stanford University in the USA have published a new paper in the American Economic Review surveying an alternative to GDP per capita as a benchmark for economic welfare. In their interpretation,  a person’s welfare is based on how much they can actually consume and how much time they can actually take off. Leisure time, life expectancy and inequality are all included in their overall assessment and one interesting result when the data is analysed is the shrinking gap in measured economic welfare between France and the USA.

"If policymakers were to compare the United States to France by average consumption, for instance, then France’s living standard is only 60 percent of the U.S. level. But using a measure that includes France’s lower inequality, lower mortality rate, and more leisure, France’s welfare-based living standard is about 92 percent of the U.S. level, with inequality, mortality, and leisure all boosting the relative standard equally."

This is an interesting addition to the growing cluster of alternative composite measures of economic welfare / wellbeing as an alternative to the traditional focus on real income (GDP/GNI) per capita. 
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Tourism starting to bleed the Lickan Antay people of the Atacama desert dry

Tourism starting to bleed the Lickan Antay people of the Atacama desert dry | Development Economics | Scoop.it
Chile’s Los Flamencos reserve is the country’s first to be co-managed by the state and indigenous people. Yet the Lickan Antay’s existence is still a battle
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This Guardian piece on the natives of the Atacama desert in Chile is a superb case study article to read when assessing some of the private and external costs and benefits of expanding tourism in a region of a country where water is scarce and local customs and human capital developed to manage common pool resources are threatened by the dash to scale up tourist infrastructure.
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Africa’s Rise—Interrupted? -- Finance & Development, June 2016

Africa’s Rise—Interrupted? -- Finance & Development, June 2016 | Development Economics | Scoop.it
Steven Radelet - The region’s future depends on much more than fluctuations in commodity prices
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The global macroeconomic headwinds have moved against many sub Saharan African commodity exporters in the last few years as the terms of trade have deteriorated following a fall in world prices. That said, a sizeable number of African economies are net importers of primary commodities, so they have seen an improvement in their net trade balance. 

This feature article from the June 2016 edition of IMF Finance and Development is highly recommended reading for students and teachers wanting an update on growth and development prospects for the African continent. After a decade or more of much stronger growth and - in some cases - genuine and sustainable improvement in human development outcomes, can Africa continue the progress or will the next few years be particularly difficult?

Undoubtedly, the reductions in extreme poverty have been significant although highly uneven across the continent.

"The share of people living in extreme poverty (less than $1.90/day in constant 2011 prices) dropped from 61 percent in 1993 to 43 percent in 2012, a decline of nearly 1 percentage point a year for two decades. In some countries (for example, Senegal), poverty declined even more; in others (Democratic Republic of the Congo), not at all."
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Is There an Alternative to the Boom and Bust Cycle for Resource Rich Countries? 

Is There an Alternative to the Boom and Bust Cycle for Resource Rich Countries?  | Development Economics | Scoop.it
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A recent panel event on economic policies for natural resource rich countries offered some interesting and valuable evaluative insights for A level economists.
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Scarcity and Basic Development: Families in developing nations are paying more than half their income for water

Scarcity and Basic Development: Families in developing nations are paying more than half their income for water | Development Economics | Scoop.it
Access to safe water is a human right, but not a global reality. Here's how water cost and access vary throughout the world -- and why it matters.
Geoff Riley's insight:
A new report from WaterAid highlights the many millions of people who live without access to safe water and also the disproportionate cost for the poorest communities of paying for water supplies. Have a look at the infographic below for the stark variations in the unit cost (in US dollars) of providing 50 litres of water. The World Health Organization recommends that, at the very least, a single person needs access to 50 liters of clean water per day for basic hygiene and hydration.
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Nigeria's NNPC 'failed to pay' $16bn in oil revenues

Nigeria's NNPC 'failed to pay' $16bn in oil revenues | Development Economics | Scoop.it
Nigeria's state-owned oil company failed to pay revenues worth $16bn to the government in a suspected fraud, according to an official audit.
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Barriers to development - high on the list is wholesale corruption and fraud! 
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Bruce Fellowes's curator insight, March 15, 6:15 PM
Barriers to development - high on the list is wholesale corruption and fraud! 
John Wilson's curator insight, March 15, 8:27 PM
Barriers to development - high on the list is wholesale corruption and fraud! 
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New Report Lays Out Path for Vietnam to Reach Upper-Middle-Income Status in 20 Years

New Report Lays Out Path for Vietnam to Reach  Upper-Middle-Income Status in 20 Years | Development Economics | Scoop.it
A new report recommending steps to help lift Vietnam to upper-middle-income status in two decades suggests that Vietnam build a more competitive private sector, support smart urbanization, promote innovation, and take advantage of increasing trade opportunities.
Geoff Riley's insight:

Many students follow growth and development issues in Vietnam - it is certainly a vibrant case study to use and this new World Bank report will be worth accessing.

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IMF Report on the Ethiopian Economy (September 2015)

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Absolutely packed full of interesting growth and development data and comment (spoiler alert ... the standard IMF blueprint for macro policy is clearly in evidence!) I have been using this for reference in an assignment on whether currency devaluation is an appropriate macro strategy for lower-middle income countries .

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Senegal forecasts energy sufficiency, Newsday

Senegal forecasts energy sufficiency, Newsday | Development Economics | Scoop.it
Senegal says it will become self-sufficient in energy in the next few years.
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Senegal says West Africa's biggest gas reserve has been discovered in its offshore fields - will it be a blessing or a curse?

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F585: Zambia feels the effect of falling commodity prices

One of the countries feeling the effects of falling commodity prices is Zambia. Its economy relies heavily on copper"

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FDI: Saudi Arabia Is Buying Up American Farmland To Export Agricultural Products Back Home

The Saudis are explicitly conserving their own resources at home, while exploiting land and water supplies here in America. “We’re letting them come over here and use up our resources. It’s very frustrating for me, especially when I have residents telling me that their wells are going dry and they have to dig a lot deeper for water. It’s costly for them to drill new wells."
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FDI of a type but one that is raising many objections in some parts of the USA

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Britain’s spending on aid isn’t too generous. It’s a drop in the ocean | Gordon Brown

Britain’s spending on aid isn’t too generous. It’s a drop in the ocean | Gordon Brown | Development Economics | Scoop.it
Our lack of commitment to educating the world’s children is a timebomb. And its consequences will haunt us
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Former PM Gordon Brown builds the case for more generous overseas development assistance focusing on improving educational opportunities for children in the least developed economies arguing that a failure to act may lead to more Arab Springs.

"While around 80% of today’s Korean, Japanese, Taiwanese and Singaporean primary school children will go on to attend university, less than 5% of their counterparts in African countries such as Niger and the Democratic Republic of Congo will do so at any time in the foreseeable future."
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Kit Wiggin's curator insight, September 19, 1:48 AM
Interesting coming from someone who did't know a lot about spending on the right things

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Brexit could cost poorest countries £320m a year, warn economists

Brexit could cost poorest countries £320m a year, warn economists | Development Economics | Scoop.it
Overseas Development Institute experts and others say developing countries will be hit hard if preferential access to British market is lost
Geoff Riley's insight:
Brexit is likely to be a double-edged sword for many less developed countries with trade / labour / investment links with the British economy. The Overseas Development Institute has published an initial report on some of the channels of impact arising from Brexit - including the recent depreciation of the sterling exchange rate (affecting the value of remittances) and also the extent to which newly negotiated trade deals with emerging/developing countries might be an opportunity both parties. 
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The fish farmers hoping to end Gaza's reliance on Israeli imports

The fish farmers hoping to end Gaza's reliance on Israeli imports | Development Economics | Scoop.it
Palestinians must overcome power cuts and instabilities resulting from Hamas rule if they are to produce enough to supply markets
Geoff Riley's insight:
The fish farmers of Gaza are a resilient group - hamstrung by intermittent electricity supplies and heavily dependent (for the moment) on imports of fish food and eggs from Israel. But investment in solar power on the horizon and the success of some of the commercial fish farms set up since 2014, could Gaza successfully develop capacity and capability in fish farming as a growth strategy? 
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Chart: Countries with the Most Freshwater per Person

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Geoff Riley's insight:
Water scarcity is a huge barrier to development progress as this World Bank data blog makes clear. For every person in Iceland, there are over 200 olympic swimming pools worth of renewable freshwater. However, nearly 1.6 billion people live in countries where water is scarce – a figure that may double in the coming two decades.
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How can water utilities provide reliable water to poor people in African cities?

How can water utilities provide reliable water to poor people in African cities? | Development Economics | Scoop.it
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​One of the major challenges for countries (and regions) undergoing rapid urbanisation is to ensure a reliable, affordable and safe supply of drinking water for households and businesses. This is one of the biggest development challenges facing Africa in particular. The African urban population is forecast to triple between now and 2030 but since 1990, the share of those with water piped to their premises has declined from 43 percent in 1990 to 33 percent in 2015.
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Tacit Collusion: Sainsbury's to ditch Brand Match scheme

Tacit Collusion: Sainsbury's to ditch Brand Match scheme | Development Economics | Scoop.it
Supermarket chain Sainsbury's is to stop running its Brand Match scheme, which gives money back when goods are cheaper at rival Asda.
Geoff Riley's insight:
Consumer behaviour in the retail grocery industry is constantly changing and supermarkets are having to adjust to reflect this. Sainsbury's has announced an end to their price match scheme because fewer customers are filling their baskets with enough products to make the savings worthwhile. Price sensitive consumers are happy to spend some of their valuable time searching for every conceivable discount. Most of us I would hazard to guess are less susceptible to this type of promotion. We just want good products at a decent price and choose to shop in the most convenient location given time and place. 
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Primary Dependency: Angola seeks IMF help in wake of oil price falls

Primary Dependency: Angola seeks IMF help in wake of oil price falls | Development Economics | Scoop.it
Oil exporting Angola asks the International Monetary Fund (IMF) for financial assistance.
Geoff Riley's insight:
The Angolan economy is hugely dependent on the extraction and exporting of crude oil. With with global prices remaining stubbornly low their economy is suffering from a steep decline in export revenues and tax receipts. The result is a fiscal crisis which may require emergency loans from the IMF. In the past, the default position of the IMF has been to apply conditionality to loan finance - for example requiring structural economic reforms and/or fiscal austerity. But there are signs that the IMF approach is changing. Angola's export base is narrow and their economy is highly vulnerable to global economic shocks.
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hulisani.'s curator insight, May 3, 10:05 AM
How does this have an influence on the African market?
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Lessons from Vietnam in a slowing global economy

In just three decades, Vietnam has been transformed from one of the world’s poorest nations to a development success story. Vietnam’s experience carries important lessons for other developing
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China's economy: slowing distorted and debt-addicted

China's economy is slowing. It's policy makers are having to contend with a massive debt-fuelled investment binge and the need to implement necessary reforms t…
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The latest analysis of the Chinese economy from the RBS team

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Aman Kanwar's curator insight, February 3, 4:27 AM

Lots of data in this presentation. Focus on developing a story in a couple of paras around debt as a constraint on development.

Rebecca Clark's curator insight, September 21, 12:36 PM

China's economy

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Institutional quality and economic performance

Institutional quality and economic performance | Development Economics | Scoop.it
Institutional quality and economic development reinforce each other over the longer term, but we argue that institutional quality leads this virtuous circle. It unlocks growth potential and does not intrinsically suffer from diminishing returns.
Geoff Riley's insight:

This is perhaps a bit dry for A2 economists but institutions do matter so some teachers may want to refresh their knowledge on this topic by dipping into this paper from economists at Rabobank.

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FDI flows into India nearly doubled in 2015: UNCTAD

FDI flows into India nearly doubled in 2015: UNCTAD | Development Economics | Scoop.it
Foreign Direct Investment flows into India nearly doubled in 2015 to $59 billion while the US emerged as the top host country for FDI last year, the UN's trade agency has said.
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TPP and Free Trade Agreements: Vietnam investment: Foreign companies flock to emerging global export hub

TPP and Free Trade Agreements: Vietnam investment: Foreign companies flock to emerging global export hub | Development Economics | Scoop.it
TOKYO/HANOI -- Vietnam is sharpening its competitive edge as an export hub, attracting a flood of overseas investment. Among the influx of eager inves
Geoff Riley's insight:

Vietnam is a fast-growing international trade hub and FDI is flowing rapidly into the country encouraged by relatively low unit labour costs, more business-friendly economic reforms in Vietnam, the TPP and the ASEAN Economic Community agreements and also because Vietnam has free trade agreements with South Korea and the European Union. This is one of the major globalisation stories of the moment. 

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