Development Economics
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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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Paul Collier on migration and diversity: Movements of the people

The author of "Exodus" explains why debates about immigration should really be about estimating the value, and limits, of diversity in society. For more vide...
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Bruce Fellowes's curator insight, November 22, 2015 1:11 PM

The author of Exodus & The Bottom Billion

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F585: Minister says world’s biggest dam Kariba is ‘empty’, as Zambia's power deficit widens to 42%

F585: Minister says world’s biggest dam Kariba is ‘empty’, as Zambia's power deficit widens to 42% | Development Economics | Scoop.it
Hard hit Zambia has contracted a 200-megawatt floating plant to be docked off neighbouring Mozambique’s coast to supply it with electricity.
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A stark reminder of the risks that endemic and chronic energy and water shortages can cause for developing countries.

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F585: How we can help African nations to extract fair value (Paul Collier, 2013)

F585: How we can help African nations to extract fair value (Paul Collier, 2013) | Development Economics | Scoop.it
Last week’s report from Kofi Annan’s Africa Progress Panel has brought to light the unfairness of recent resource extraction contracts in the Democratic Republic of Congo. In doing so, it has unveiled something of much broader significance both for
Geoff Riley's insight:

Makes a clear distinction between rents and profits - important in the debate over how best to harness natural resources in sustainable and inclusive wealth.

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F585: Migration: are remittances the real issue?

F585: Migration: are remittances the real issue? | Development Economics | Scoop.it
While remittances are an important tool for development, the international community must remember that if recognized as a tool alongside official development aid, there come many strings attached.
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F585: Migration, Remittances, and Diaspora Issues - Articles from the World Bank

F585: Migration, Remittances, and Diaspora Issues - Articles from the World Bank | Development Economics | Scoop.it
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Link to resources on remittances published by the World Bank - this is an important aspect of the June 2015 F585 case study

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F585: Zambian Entrepreneurs Compete Against Multinational Chains

Continuing our series on Zambia we look at Zambian entrepreneurs in the Hospitality Industry. Struggling to compete with large multinational hotel chains.

Geoff Riley's insight:

Limited access to credit and unfavourable tax treatment compared to foreign investors are two of the factors that are lowering the returns to domestic Zambian tourist operators.

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Mobile Money and Development: How M-PESA Was the Catalyst for Fintech

Mobile Money and Development: How M-PESA Was the Catalyst for Fintech | Development Economics | Scoop.it
In our space, M-PESA has made a big impact in bringing banking type services to the underbanked in Kenya. Many
Geoff Riley's insight:

Some useful arguments for the gains from the expansion of mobile money systems in Kenya

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From Australia to Zambia, slowing China economy causes pain

From Australia to Zambia, slowing China economy causes pain | Development Economics | Scoop.it
The pain of China’s sharp economic slowdown is being felt in the form of depressed commodity prices, elevated unemployment and shrunken home prices in towns that once thrived from supplying materials to Chinese factories.
Geoff Riley's insight:

Focus here on four countries directly affected by the Chinese economic slowdown. The section on Zambia will be of particular interest to OCR F585 teachers and students.

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Thomas Piketty: The long-run economics of wealth inequality

Thomas Piketty, Professor of Economics at the Paris School of Economics and bestselling author of Capital in the 21st Century on his approach to measuring inequalities of income and wealth

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Basic Needs & Development: One in Three People Lack Access to Proper Sanitation

This chart shows the population without improved sanitation by region and year.
Geoff Riley's insight:

More than 340,000 children under five died from diarrheal diseases due to poor sanitation in 2013. And women and girls are especially vulnerable when it comes to lack of improved sanitation facilities.

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Beyond Oil: Innovation is keystone in UAE GDP, says Minister of Economy

Beyond Oil: Innovation is keystone in UAE GDP, says Minister of Economy | Development Economics | Scoop.it
Increasing the proportion of GDP coming from the non-oil sector is part of the strategy to reduce dependence on the contribution from energy.

Via Sile
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Diversification is important to reduce primary dependency.

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Sile's curator insight, November 17, 2015 5:46 PM

Although the oil industry is the driving force behind the UAEs rapid growth, they are aware of the dangers of keeping this as their number one source of income.

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Tourism and Economic Development

The travel and tourism industry has a global economic contribution (direct,indirect and induced) of almost seven trillion U.S. dollars in 2013. The direct economic impact including accommodation, transportation, entertainment and attractions, was 2.2 trillion U.S. dollars in 2013
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F585: Zambia Trade Patterns and Economic Complexity

F585: Zambia Trade Patterns and Economic Complexity | Development Economics | Scoop.it
An online resource for international trade data and economic complexity indicators available through interactive visualizations of countries and products.
Geoff Riley's insight:

This is a truly superb resource on the patterns of exports and imports for each country in the world. Zambia features heavily in the F585 case study as an exemplar of a country seeking to move beyond heavy dependence on copper mining and sustain higher levels of per capita income and development. How best can it turn resource wealth into human wealth? Some important development progress has been made - not least in improving life expectancy following significant extra investment in health care. But the economy continues to have a relatively low degree of economic complexity. According to the 2013 data, Zambia is the 86th largest export economy in the world and the 66th most complex economy according to the Economic Complexity Index (ECI).

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Dumbs Moyo: China Helps Africa to Develop

Dumbs Moyo: China Helps Africa to Develop | Development Economics | Scoop.it
China remains a potent economic growth engine and a crucially important catalyst for poverty reduction across the world, and this is likely to remain true over the next decade. And regions such as Africa, home to the largest amount of untilled arable land left on earth, have much to gain from cooperation and engagement with China.
Geoff Riley's insight:

The Zambian-born economist provides a positive slant on the impact of Chinese FDI into the African continent.

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The Power of Remittances | Economics | tutor2u

The Power of Remittances | Economics | tutor2u | Development Economics | Scoop.it
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In this TED talk, Dilip Ratha, of the Migration and Remittances Unit at the World Bank, sets out simply both the size of remittances and the economic impact on the countries that receive them

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F585: Remittances and Growth - Gone Missing?

F585: Remittances and Growth - Gone Missing? | Development Economics | Scoop.it
Why has the growth in remittances not led to growth in GDP?
Geoff Riley's insight:

Highly useful contextual reading for extract 4 of OCR F585

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Jess Gregor's curator insight, February 24, 3:15 PM

26th Feb Friday lesson

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F585: Infrastructure in Zambia - Is Sata doing great things?

F585: Infrastructure in Zambia - Is Sata doing great things? | Development Economics | Scoop.it
The government is working on new roads and fixing old ones, but could do more and faster
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Kenya: Drivers stuck in '50km/30 mile' traffic jam - BBC News

Kenyan police have been deployed to ease a traffic jam reportedly stretching for 50km (30 miles) on the highway between Mombasa and Nairobi

Geoff Riley's insight:

A stark reminder of the persistent infrastructure gap!

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Global Trade: the New Imperialism?

Global Trade: the New Imperialism? | Development Economics | Scoop.it
Will new global trade deals bring prosperity or poverty?
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Enrichment discussion: Has the WTO failed in its prime directive to “eradicate extreme poverty and hunger” through increased global trade? Is the world trade regime fair, or is the game fundamentally rigged against developing countries? 

 

And as the major powers increasingly turn to regional agreements like the recent Trans-Pacific Partnership, does the WTO even matter anymore? Owen Bennett-Jones and his panel of experts, including a former director general of the WTO, discuss the future of global trade, and whether developing countries can ever reap the benefits.

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Barriers to Development: Somalia's first cash machine opens in Mogadishu

Barriers to Development: Somalia's first cash machine opens in Mogadishu | Development Economics | Scoop.it
Somalia's first-ever cash withdrawal machine is installed in a hotel in the capital, Mogadishu, allowing people to withdraw money in US dollars.
Geoff Riley's insight:

A small but good contextual example to exemplify the barriers to development from under-developed financial systems and a worthless local currency.

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Avoiding the Resource Curse: World's second-largest diamond 'found in Botswana'

Avoiding the Resource Curse: World's second-largest diamond 'found in Botswana' | Development Economics | Scoop.it
The world's second-largest gem quality diamond has been discovered in Botswana, the Lucara Diamond firm says.
Geoff Riley's insight:

More here on how Botswana has become an oft-quoted case study on how to mitigate the risks of the natural resource curse / trap http://www.bbc.co.uk/news/business-23771552 ;

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Dani Rodrik: Globalisation - the trade-offs

Dani Rodrik of the Institute for Advanced Study tells The CORE Project (http://core-econ.org) about "The Globalisation Trilemma"

Geoff Riley's insight:

Economics is a science of trade-offs, and that we can have too much globalisation.

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Supply-side Policies: Corporate Income Tax Rates around the World in 2014

Supply-side Policies: Corporate Income Tax Rates around the World in 2014 | Development Economics | Scoop.it

The worldwide average top corporate income tax rate is 22.6 percent. By region, Europe has the lowest average corporate tax rate at 18.6 percent; Africa has the highest average tax rate at 29.1 percent.

Geoff Riley's insight:

Some contextual background here - to what extent would reductions in corporation tax rates help to stimulate economic growth on the African continent?

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Financing Development: The Rise (and Rise?) of African EuroBonds

Geoff Riley's insight:

This is an important issue in A2 development economics. Better governance and stronger macro policies have enabled a growing cluster of Sub Saharan governments to issue bonds priced in Euros to the international capital markets. Angola, Gabon, Ghana, Ivory Coast, Namibia, and Zambia - have issued bonds worth $6bn.

 

The risk premium is evident - these countries do not have the same credit ratings as most advanced countries. and falling commodity prices which are hitting growth and exchange rates have contributed to higher bond yields (interest rates). But the growth of Eurobond issuance is an important aspect of financial flows for developing countries. 

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