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Inflation Is Especially Painful in Developing Countries - Real Time Economics - WSJ

Inflation Is Especially Painful in Developing Countries - Real Time Economics - WSJ | Development Economics | Scoop.it
Inflation may lead to social unrest in developing countries because rising prices are especially painful for households that rely heavily on cash as a store of wealth, according to recent research from the St.

Via jon inge
Geoff Riley's insight:

Relevant to any discussion about growth and development constraints - especially the impact on real consumption of the poorest households - most of whose financial wealth is held in cash

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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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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…
Geoff Riley's insight:

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 around debt as a constraint on development.

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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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Scale of anti-dumping investigations against China continues to grow

Under World Trade Organisation (WTO) rules, the EU can impose anti-dumping duties on products from third countries if an investigation demonstrates that these products enter the EU at dumped prices that cause injury to the EU industry.

Geoff Riley's insight:

Useful context for any essay on protectionism and the fall out from the Chinese economic slowdown, especially with the news that nearly one sixth of jobs in the UK steel industry have been or are planned to be lost in the last year. 

 

Currently there are 52 anti-dumping measures in force against China, covering 1.38% of EU imports from that country. The main industries concerned today are steel, mechanical engineering, chemicals and ceramics. There are presently about 250,000 jobs in industries in the EU directly covered by the measures against dumping from China

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“India is the only country trying to become a global economic power with an uneducated and unhealthy labour force” – Amartya Sen

“India is the only country trying to become a global economic power with an uneducated and unhealthy labour force” – Amartya Sen | Development Economics | Scoop.it
Geoff Riley's insight:

For those studying Indian economics and development issues, this interview is unmissable

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William Holborow's curator insight, January 16, 8:36 AM

“The whole idea that you could somehow separate out the process of economic growth from the quality of the labour force is a mistake against which Adam Smith warned in 1776.”

It is difficult to understand why the Indian government aren't spending lots of money to improve their education system

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E-learning for Africa held back by power shortage

E-learning for Africa held back by power shortage | Development Economics | Scoop.it
The ambitions for more educational technology in Africa are being held back by a basic lack of electricity.
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Why globalisers still retain the upper hand

Why globalisers still retain the upper hand | Development Economics | Scoop.it

In her recent unsuccessful campaign during France’s regional elections, Marine Le Pen, the leader of the far-right National Front, argued repeatedly that international politics is increasingly pitting nationalists against globalists."

Geoff Riley's insight:

An important FT editorial looking ahead to 2016 which is likely to include an in-out referendum for the UK. "Economic logic, social trends and liberal values are all on the side of the globalisers."

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Sub-Saharan Africa’s sovereign bond issuance boom

There has been rapid rise in sovereign bond issuance in some Sub-Saharan African countries. This includes those countries that have benefited from Heavily Indebted Poor Countries (HIPC) and Multilateral Debt Relief Initiative (MDRI) debt relief programs. 

Geoff Riley's insight:

Sovereign bond sold to overseas investors might help to finance infrastructure spending.

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Aaron Burnette's curator insight, February 5, 8:27 AM

This area of Africa has gained great benefits from HIPC's. also, there is dealing with much more money than ever before.

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Introduction to the 2015 Human Development Report

The 2015 Human Development Report, launched 14 December in Addis Ababa (Ethiopia), urges governments to act now to ensure no one is left behind in the fast-changing world of work.

Geoff Riley's insight:

Sustainable inclusive growth requires equitable and decent work for all as explained in this very accessible introduction to the 2015 Human Development Report published ibn Dec

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Cartels: China fines global shipping firms for price-fixing

Cartels: China fines global shipping firms for price-fixing | Development Economics | Scoop.it

Chinese regulators have fined seven major international shipping companies 407m yuan ($65m; £42m) for fixing prices after a year-long investigation.

Geoff Riley's insight:

The 2008 Chinese competition act is being used with increasing frequency to target price-fixing agreements in a number of industries including telecoms, dairy and shipping. The main aim seems to be keeping prices lower for the emerging middle class in China. This is a good example of a price fixing arrangement targeted by the authorities and also the immunity to a fine for the business that cooperated most with the Chinese competition authorities - game theory in action!

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African power: first turn the lights on, then keep them on

News and comment on everything that makes emerging markets move. We cover politics, economics, finance and business from over 40 emerging economies.
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Overcoming the Natural Resource Trap: The Middle East innovation wave

Overcoming the Natural Resource Trap: The Middle East innovation wave | Development Economics | Scoop.it
Criticism that the UAE’s success has been built on oil wealth are ignorant. Discover the many things beyond oil that keep the UAE ahead in the innovation stakes
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IMF Report on the Ethiopian Economy (September 2015)

Geoff Riley's insight:

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."
Geoff Riley's insight:

FDI of a type but one that is raising many objections in some parts of the USA

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Econ4 and F585: Multinational firms and wage premiums

Econ4 and F585: Multinational firms and wage premiums | Development Economics | Scoop.it
Geoff Riley's insight:

Here is some new research relevant to the debate over the benefits and costs of foreign direct investment in both lower, middle and higher income countries. 


The study looks at wage premiums in the Japanese economy.


"Firms that engage in international markets tend to pay higher wages. Compared with the purely domestic firms, the average wage premiums for Japanese multinational firms and foreign-owned firms are 59.2% and 74.2%, respectively" 


Typically exporting businesses are larger and can enjoy increased profitability from internal economies of scale.


And transnational corporations may also be more successful in attracting and employing the higher skilled domestic workers to do jobs that require stronger levels of human capital than businesses operating solely in domestic sectors - the report finds that "worker characteristics such as experience and education also play an important role and account for approximately 13%-20% of the wage premiums"

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Africa's economic prospects in 2016: Looking for silver linings

Africa's economic prospects in 2016: Looking for silver linings | Development Economics | Scoop.it

adwAfrica's economy is likely to face a very tough 2016, as the continent deals with falling commodity prices, China's slowdown and a host of other problems, reports BBC Africa Business Report's Matthew Davies.

Geoff Riley's insight:

This is excellent for A2 macro students - especially Edexcel and OCR people - the external headwinds are affecting African countries in different ways. Sharp falls in global oil prices have been a blessing for countries dependent on imported crude. But depressed commodity prices are shifting the terms of trade away from primary exporters such as Zambia and Nigeria and leading to reduced investment, worsening fiscal balances and - in many case - a severe depreciation of national currencies. Will lower currencies be an effective stimulus for emerging sub Saharan manufacturing industries? Or will the negatives outweigh the positives - not least the $ denominated repayments of Eurobonds issued by several SSA governments that are must be made during 2016? 

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Broadening the Sources of Economic Growth in Africa

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Recent fast economic growth in Africa has not been accompanied by the development of productive capacities and structural transformation, two essential building blocks for sustained growth and poverty reduction to which African countries aspire.
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Born lucky? World Bank reveals life expectancy rates for today's infants

Born lucky? World Bank reveals life expectancy rates for today's infants | Development Economics | Scoop.it
Children born in the UK can expect to live to 81, an average of 38 years more than those born in Sierra Leone
Geoff Riley's insight:

Stark differences made clear in this article. Fewer than a quarter of babies born in Lesotho will reach their 65th birthday while in Hong Kong 95% of girls and 89% of boys will do so.

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Efficiency wages and inclusive growth: Cambodia textile factory offers new model to improve workers' lives

Efficiency wages and inclusive growth: Cambodia textile factory offers new model to improve workers' lives | Development Economics | Scoop.it
South-east Asia’s garment industry has a bad name but decent wages, childcare and labour rights are high priorities for one company breaking the mould
Geoff Riley's insight:

Loads of pertinent development economics in this piece from the Guardian. There is an alternative model to urban sweat-shops. Consider for example the long term importance of the non-pecuniary benefits provided both to skilled and unskilled employees.

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Technology & Development: What happens when the economics of everything meet the internet of things?

Technology & Development: What  happens when the economics of everything meet the internet of things? | Development Economics | Scoop.it
According to data included in the forthcoming 2016 World Development Report, a 10% increase in the use of the internet in a country can lead to a 1.9% increase in trade
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Beyond Microfinance: Leaving it behind - strategies to lower extreme poverty

Beyond Microfinance: Leaving it behind - strategies to lower extreme poverty | Development Economics | Scoop.it
How to rescue people from deep poverty—and why the best methods work
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Development Constraints: Getting Caught in the Low- or Middle-Income Trap

Development Constraints: Getting Caught in the Low- or Middle-Income Trap | Development Economics | Scoop.it
Few developing countries can climb the economic ladder or stay there.
Geoff Riley's insight:

Part of a series of articles from Economists at the Federal Reserve Bank of St Louis on the challenges facing developing countries as they seek to move from low/middle incomes per capita.

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