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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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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Rebecca Clark's curator insight, September 21, 2016 12:50 PM

Piketty on Inequality

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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
Geoff Riley's insight:

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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African Economic Development

A curation of articles, news and other resources on aspects of economic development for the African continent. This includes the economics of natural resources and industrialization across many of the African continent.
Geoff Riley's insight:

Newly updated with lots more news articles

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Natural Resources: Commodities slump again - here's why you should care

Natural Resources: Commodities slump again - here's why you should care | Development Economics | Scoop.it
Nervous investors send commodity prices plunging again, but here are the three reasons behind what this means for global economic growth.
Geoff Riley's insight:

This is a useful short article to read if the new normal for commodity prices is for a sustained period of cheaper oil, copper, and so forth. The terms of trade have shifted against commodity-dependent exporters. 

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HDI and the Palma Ratio - Data

Geoff Riley's insight:

Human development index and the Palma Ratio are shown in this public data available from Google data. More students are now familiar with the Palma Ratio and what is shows - it is an alternative to the Gini coefficient.

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Economics of the Natural Resource Trap

Looks at some of the causes of the natural resource curse and policies to address it
Geoff Riley's insight:

A2 Economics - some revision notes on the economics of the natural resource trap.

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Rebecca Clark's curator insight, September 21, 2016 12:55 PM

The Natural Resource Trap

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Development and Demography: India’s population rise puts it on course for rapid growth

Development and Demography: India’s population rise puts it on course for rapid growth | Development Economics | Scoop.it

In about five years’ time, India will pass China to become the world’s most populated country

Geoff Riley's insight:

Did you know that my good friend Hamish McRae was one of the inspirations behind the annual Royal Economic Society essay competition that now attracts well over 2,000 entries from economics students across the world? Hamish has the knack of picking up the bigger picture and articulating some important long-run trend ideas. Here he focuses on the potential demographic dividend for India - although there is a whole lot of extra stuff they will have to get right in order to realise fully the benefits of a fast growth of a young population.

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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?
Geoff Riley's insight:

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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Rebecca Clark's curator insight, September 21, 2016 12:50 PM

The Globalisation Trilemma

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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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Agriculture, economic growth and development

A curation of news stories and study resources on the role that agriculture can play in sustaining growth and development and the policies / incentives that might be most effective in promoting this sector
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Global development subjects

Global development subjects | Development Economics | Scoop.it
A-Z of the key subjects covered on the Global development website
Geoff Riley's insight:

One of those uber-useful A-Z listings of specific use to development economics students.

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African Economic Development - Curated Articles and Other Resources

A curation of articles, news and other resources on aspects of economic development for the African continent.
Geoff Riley's insight:

This is my regularly updated Storify on the economics of growth and development in Sub Saharan Africa. 

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Bruce Fellowes's comment, November 11, 2015 5:34 PM
Another Fantastic resource for students.
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The Case for Growth with Tim Besley and Paul Collier

Conversation between Professor Tim Besley (London School of Economics) and Professor Sir Paul Collier (University of Oxford) on the importance of economic growth

Geoff Riley's insight:

Still absolutely one of the best fifteen minute discussions on economic growth and development. A2 students who work through it adding to their own notes will benefit greatly. There are some important arguments here.

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China in Transition: “The Future of China’s economy" by Bert Hofman

Mr Bert Hofman, the World Bank's Country Director for China, Korea and Mongolia in the East Asia and Pacific Region looks at the future of China's economy in a lecture given at the Oxford Martin School

Geoff Riley's insight:

This is an absolute gem! It is the recording of a live lecture on China given at the Oxford Martin School on Wednesday 11th November 2015. I thoroughly recommend that all A2 economics students watch it and take good notes. Perfect too for PreU students who are specialising in the economics on China. 

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Will Turner's curator insight, November 11, 2015 4:12 PM

Mr Bert Hofman, the World Bank's Country Director for China, Korea and Mongolia in the East Asia and Pacific Region looks at the future of China's economy in a lecture given at the Oxford Martin School

Rebecca Clark's curator insight, September 21, 2016 12:55 PM

Future of China's economy