Development Economics
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Ever closer

Ever closer | Development Economics | Scoop.it
Nigeria moves at a different speed from its neighbours THE euro crisis has put most people off currency unions. But not in Africa, it seems. In November the leaders...
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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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Remittances can be big economic assets for countries

Remittances can be big economic assets for countries | Development Economics | Scoop.it
For five countries – Nepal, Kyrgyzstan, Haiti, Tajikistan and Liberia – remittances from citizens abroad are equivalent to at least a quarter of GDP.
Geoff Riley's insight:
What are some of the micro and macro economic effects of the strong flow of remittances into many developing / emerging countries?
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Carbon Pricing

Carbon Pricing | Development Economics | Scoop.it
A coalition of global leaders is driving for effective carbon policies worldwide.
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$20 billion raised from carbon pricing in 2017 but still more than eighty-five per cent of carbon pricing remains free from any form of carbon pricing or carbon trading system. 
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Are emerging economies deindustrializing too quickly?

Are emerging economies deindustrializing too quickly? | Development Economics | Scoop.it
As today’s developed countries grew richer, they experienced a process of ‘structural transformation’. This means they first went through a period of industrialization as the economic center of gravity shifted from agriculture to manufacturing, and then went through a period of deindustrialization,
Geoff Riley's insight:
To what extent should we be concerned about premature deindustrialisation in a number of emerging economies? Much depends on the root causes and the sustainability of the process of structural change - for example, can productivity growth and real income improvements be sustained in other industries such as farming, tourism and basic financial services?
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Distributional Impact of Taxes and Transfers: Evidence from Eight Developing Countries

Distributional Impact of Taxes and Transfers: Evidence from Eight Developing Countries | Development Economics | Scoop.it
A World Bank book – The Distributional Impact of Taxes and Transfers: Evidence from Eight Developing Countries– reveals that although fiscal systems are always equalizing, they often reduce the actual consumption of goods of the poor.
Geoff Riley's insight:
Taxes and transfers reduce inequality across all countries but the impact on poverty is uneven. Indeed some poor in lower and middle-income countries are net payers into the fiscal coffers of a government because of high taxes on consumption. This new report from the World Bank looks draws on evidence of tax and spend policies for eight developing / emerging countries.
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Performing (economic) miracles

Geoff Riley's insight:
This looks great for students and teachers really into their development economics. "Sustained growth takes place because of continuous technological upgrading, institutional innovation and structural change. At the heart of the process is an evolving set of factor endowments."
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Mass faintings in Cambodian factories supplying Nike and Puma

Mass faintings in Cambodian factories supplying Nike and Puma | Development Economics | Scoop.it
Asics and VF Corporation also affected by spate of blackouts among 600,000-strong, predominantly female workforce employed by major sports brands
Geoff Riley's insight:
Global compliance protocols under investigation here. n important aspect of the globalisation / FDI / development discussion
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Greening Africa’s Cities to Protect People and Growth

Greening Africa’s Cities to Protect People and Growth | Development Economics | Scoop.it
Protecting environmental assets in Africa's cities can increase the productivity and livability of these cities, improve tourism opportunities, and enhance resilience to the impacts of extreme weather events, according to a report titled
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Kenya opens Nairobi-Mombasa Madaraka Express railway

Kenya opens Nairobi-Mombasa Madaraka Express railway | Development Economics | Scoop.it
The Chinese-funded train line is the country's biggest infrastructure project since independence.
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Unleashing China and India’s growth potential

China and India have to foster productivity growth in order to avoid getting stuck in the middle income trap. The implementation of an ambitious innovation, education and institutional reform agenda would enable both countries to become the world’s new global growth catalysts.
Geoff Riley's insight:
Here is a superb economic analysis from the economics team at Rabobank on the key growth drivers for China and India. Great for revising the key determinants of economic growth and competitiveness and also excellent for picking up some specific policy reform detail.
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Sri Lanka: A country trapped in debt

Sri Lanka: A country trapped in debt | Development Economics | Scoop.it
China is investing billions in Sri Lanka, but many local citizens feel the country is being sold to the Chinese.
Geoff Riley's insight:
How beneficial is Sri Lanka's apparent dependence on China for inward foreign investment? This BBC article raises a number of questions not least the extent to which participation in the One Belt One Road Initiative will serve Sri Lanka's development prospects positively in the years to come.
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Ethiopia’s humans rights problems may tank its ambition to become a global apparel center

Ethiopia’s humans rights problems may tank its ambition to become a global apparel center | Development Economics | Scoop.it
Ethiopia wants companies that make clothes to view it as one of the world's most hospitable places to operate. Low employee wages and cheap power have led foreign companies to gravitate towards the Horn of Africa nation in recent years. The government recognizes the strategic importance of garment and textile making, and has continued to invest in the sector b
Geoff Riley's insight:
Great background article - industrial parks central to their attempt to build light manufacturing capacity and capability but the repetitional risks for businesses out-sourcing their garment manufacturing are substantial.
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Why cities matter

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Good revision clip! Paul Collier and Tony Venables explain how cities unlock the 'miracle of productivity', why they are key to economic growth in developing countries.
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The Presource Curse

The Presource Curse | Development Economics | Scoop.it
James Cust and David Mihalyi - Oil discoveries can lead first to jubilation then to economic jeopardy
Geoff Riley's insight:
One for EdExcel Year 2 macroeconomists - the latest edition of the IMF magazine Finance and Development considers some of the cause of the natural resource curse. 
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Nigeria’s kleptocrats have a toxic love affair with London’s expensive real estate

Nigeria’s kleptocrats have a toxic love affair with London’s expensive real estate | Development Economics | Scoop.it
London The prevailing narratives about corruption in Nigeria rarely mention its international dimension. They tend to gloss over how the United Kingdom, United States, and other financial centers welcome the steady stream of illicit cash flowing out Africa’s largest economy. Yet the country’s kleptocrats are increasingly exploiting weaknesses in the international financial system t
Geoff Riley's insight:
Deeply embedded corruption in countries such as Nigeria is an obvious barrier to development. Nigeria has lost an estimated $230 billion or more in illegal financial outflows since 2004: equal to $1,280 for every Nigerian citizen.
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Food and farming 'need total rethink'

Food and farming 'need total rethink' | Development Economics | Scoop.it
A major conference examines how to limit the more damaging impacts of intensive farming systems.
Geoff Riley's insight:
This article raises many questions about the sustainability of food production amidst the loss of bio-diversity on the planet. At least a discussion is being had although what concrete proposals emerge will be harder to assess.
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Can Africa stop foreign ships fishing illegally?

Can Africa stop foreign ships fishing illegally? | Development Economics | Scoop.it
The campaign group Oceana says the EU is wrongly allowing ships to fish off West Africa
Geoff Riley's insight:
Property rights are important to prevent the tragedy of the commons in industries such as fishing. The BBC reports here that in countries such as the Gambia, European and Chinese industrial fishing vessels are accused of illegal fishing which is threatening the sustainability of the industry and hitting domestic (and smaller) fishing businesses.
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India GST: Sweeping tax reform introduced

India GST: Sweeping tax reform introduced | Development Economics | Scoop.it
The overhaul of existing laws was carried out at a special midnight session of parliament.
Geoff Riley's insight:
This is an important but incredibly complex tax reform is being introduced in India. The main aim is to achieve more consistency for indirect taxes across the disparate Indian economy and in doing so, to raise tax revenues to give the Indian government more resources to fund development programmes / widen access to public goods. 
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North Korea is sitting on trillions of dollars of untapped wealth, and its neighbors want in

North Korea is sitting on trillions of dollars of untapped wealth, and its neighbors want in | Development Economics | Scoop.it
Few think of North Korea as being a prosperous nation. But it is rich in one regard: mineral resources. Currently North Korea is alarming neighbors with its frequent missile tests, and the US with its attempts to field long-range nuclear missiles that can hit American cities. A sixth nuclear test could be imminent. A
Geoff Riley's insight:
North Korea sits on trillions of dollars of untapped wealth but lacks human capital & infrastructure to exploit
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Government failure: Why is hardly anyone using Sri Lanka's new airport?

Government failure: Why is hardly anyone using Sri Lanka's new airport? | Development Economics | Scoop.it
The island nation built a new airport on its southern coast - so why is hardly anyone using it?
Geoff Riley's insight:
It is fair to say that Sri Lanka's 2nd largest airport is yet to take off! An average of 50-75 passengers cram into the terminal each day and only one airline (Fly Dubai) has any scheduled flights. 
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Rethinking Economics - Developing India: from the Bottom-Up

Rethinking Economics is an international network of students, academics and professionals building a better economics in society and the classroom.
Geoff Riley's insight:
This is an introduction to alternative perspectives on development that assume bounded rationality rather than traditional assumptions of neo-classical economics.
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India Cancels Mega Plans To Build Coal Power Stations Due To Falling Solar Energy Prices

India Cancels Mega Plans To Build Coal Power Stations Due To Falling Solar Energy Prices | Development Economics | Scoop.it
Falling Solar Energy Prices In India Has Helped Govt Cancel Plans To Build Coal Power Stations
Geoff Riley's insight:
The shift towards solar power as an affordable source of renewable energy seems to be gathering pace. Economies of scale are lowering the unit cost of solar power and this article suggests that the collapsing price of solar is a key factor behind a decision to cancel plans to build some huge coal-fired power stations in India. The ramifications are global and it is an important piece of the growth and development jigsaw for India.
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China and India Make Big Strides on Climate Change

China and India Make Big Strides on Climate Change | Development Economics | Scoop.it
Progress by two of the world’s top greenhouse gas producers is a huge lesson for the United States.
Geoff Riley's insight:
Crucial evaluation example - emerging nations including China and India now leading the race to invest in capacity and capability in renewable energy. For India for example every $1 on a barrel of oil costs them an extra $2bn in oil import spending every year.
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Can Asia reach high-income?

Can Asia reach high-income? | Development Economics | Scoop.it
Total factor productivity growth in middle-income countries depends on innovation, human capital, and infrastructure.
Geoff Riley's insight:
A useful blog here from the Asian Development Bank on some strategies for Asian countries wanting to escape the so-called middle-income trap. Spending more on research and innovation is seen as key together with increased investment in education. Middle-income economies that successfully graduated to high income had 2.5 times more research and development stock per worker as those that did not.
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What are 'inclusive economies'?

What are 'inclusive economies'? | Development Economics | Scoop.it
Inclusivity was a major theme at the World Economic Forum for Africa in Durban.
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A video report on the increasing emphasis being given to inclusive growth in emerging countries
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