The Elusive Quest for Growth

Economists' Adventures and Misadventures in the Tropics

The Elusive Quest for Growth

Since the end of World War II, economists have tried to figure out how poor countries in the tropics could attain higher standards of living. The problem is not the failure of economics, Easterly argues, but the failure to apply economic principles to practical policy work. Illustrations.

The Elusive Quest for Growth in Argentina

The Elusive Quest for Growth in Argentina

This book explores a big puzzle in development economics - why Argentina, despite rich natural resources and ample human capital, has endured such poor growth performance. The authors use rigorous economic analysis and an institutional and historical approach to show what went wrong, in a timely contribution to the sustainable development debate.

The Elusive Quest for Inclusive Growth

Growth, Poverty, and Inequality in Asia

The Elusive Quest for Inclusive Growth

This paper assesses how pro-poor and inclusive Asia’s recent growth has been, and what factors have been driving these outcomes. It finds that while poverty has fallen across the region over the last two decades, inequality has increased, dampening the impact of growth on poverty reduction. As a result, relative to other emerging and developing regions and to Asia’s own past, the recent period of growth has been both less inclusive and less pro-poor. Our analysis suggests a number of policies that could help redress these trends and broaden the benefits of growth in Asia. These include fiscal policies to increase spending on health, education, and social safetynets; labor market reforms to boost the labor share of total income; and reforms to make financial systems more inclusive.

The Elusive Quest for Growth in Argentina

The Elusive Quest for Growth in Argentina

Despite its unusually rich availability of natural resources and ample base of human capital, in the last forty years Argentina suffered a poor growth performance in any cross-country comparison. Chudnovsky and López's analysis includes two episodes of growth in 1964-74 and in 1991-98 that proved to be finally unsustainable, as well as the 2001 crisis, the most severe in the country's history. Since both growth episodes took place under quite different development paradigms, the Post-War Development Consensus and Washington Consensus, lessons about what went right and wrong in Argentina contributes to the debate about the virtues and failures of those paradigms. Following mainly an institutional and historical approach, but also employing rigorous economic analysis, this book offers a timely contribution to one of the big puzzles in the field of development economics.

Under-Rewarded Efforts

The Elusive Quest for Prosperity in Mexico

Under-Rewarded Efforts

Why has an economy that has done so many things right failed to grow fast? Under-Rewarded Efforts traces Mexico’s disappointing growth to flawed microeconomic policies that have suppressed productivity growth and nullified the expected benefits of the country’s reform efforts. Fast growth will not occur doing more of the same or focusing on issues that may be key bottlenecks to productivity growth elsewhere, but not in Mexico. It will only result from inclusive institutions that effectively protect workers against risks, redistribute towards those in need, and simultaneously align entrepreneurs’ and workers’ incentives to raise productivity.

The White Man's Burden

Why the West's Efforts to Aid the Rest Have Done So Much Ill and So Little Good

The White Man's Burden

From one of the world’s best-known development economists—an excoriating attack on the tragic hubris of the West’s efforts to improve the lot of the so-called developing world In his previous book, The Elusive Quest for Growth, William Easterly criticized the utter ineffectiveness of Western organizations to mitigate global poverty, and he was promptly fired by his then-employer, the World Bank. The White Man’s Burden is his widely anticipated counterpunch—a brilliant and blistering indictment of the West’s economic policies for the world’s poor. Sometimes angry, sometimes irreverent, but always clear-eyed and rigorous, Easterly argues that we in the West need to face our own history of ineptitude and draw the proper conclusions, especially at a time when the question of our ability to transplant Western institutions has become one of the most pressing issues we face.

The China Dream

The Elusive Quest for the Greatest Untapped Market on Earth

The China Dream

For 700 years, ever since outsiders first wrote about the place, the world has believed there are untold riches to be harvested in China. More recently, with the rise of globalisation, the spread of capitalism, and the growth in its population to 1.3 billion, the belief in China's unparalleled potential has taken on the order of an obsession. During the 90s, China astounded the world with double-digit annual growth rates while attracting over $300 billion in foreign investment. Politicians, economists and business leaders everywhere foresaw in China a market for goods and services to dwarf all others. In this thoroughly researched and engaging book, Joe Studwell provides a provocative analysis of the `China Dream'. He takes to task these predictions of growth - and instead foresees an economic crisis for China in the wake of the foreign-investment gold rush of the last ten years. A crisis that will destroy the hopes of outsiders realising their investment dreams.

The Tyranny of Experts

Economists, Dictators, and the Forgotten Rights of the Poor

The Tyranny of Experts

"Bracingly iconoclastic." --New York Times Book Review In The Tyranny of Experts, renowned economist William Easterly examines our failing efforts to fight global poverty, and argues that the "expert approved" top-down approach to development has not only made little lasting progress, but has proven a convenient rationale for decades of human rights violations perpetrated by colonialists, postcolonial dictators, and US and UK foreign policymakers seeking autocratic allies. Demonstrating how our traditional antipoverty tactics have both trampled the freedom of the world's poor and suppressed a vital debate about alternative approaches to solving poverty, Easterly presents a devastating critique of the blighted record of authoritarian development. In this masterful work, Easterly reveals the fundamental errors inherent in our traditional approach and offers new principles for Western agencies and developing countries alike: principles that, because they are predicated on respect for the rights of poor people, have the power to end global poverty once and for all.

The Elusive Quest for Security Continues - The European Union's Foreign Policy and It's Implications to Transatlantic Relations

The Elusive Quest for Security Continues - The European Union's Foreign Policy and It's Implications to Transatlantic Relations

Master's Thesis from the year 2007 in the subject Politics - International Politics - Topic: European Union, grade: 1, University of Vienna, 240 entries in the bibliography, language: English, abstract: The title of this analysis is based on a book by Simon Duke dealing with the theoretical implications of a common European foreign policy in security and defense matters. The content of the book differs from the content of this paper and is not related to the questions posed in this research.1 Part II of this research gives a detailed overview of what security actually means in global politics and how key players understand it. General definitions and theory allows us to understand the major parts of this thesis (part III and IV). Part III describes different approaches to security in IR theory and explains it on the basis of European political integration. The historio-political analysis in this part shows the evolution of a CFSP and the ESDP. Institutionalization processes within the European Union explain the current status of the EU's foreign policy, which is a status in process without having a clear and defined goal. This part includes the legal dimension of the EU's foreign policy as well and describes the problematic situation Europeans currently have to face, namely disputes about the legal personality of the European Community and the European Union. Part IV is the second major part of the paper and deals with security challenges and the impact of the EU's foreign policy on transatlantic relations and/or vice versa. This part has a closer look on the practical side of what the European Union is able and willing to do as a key player in the political, security and military domain in the world. It shows the relations between Europe and the United States and gives a segmentary analysis of Europe's power in global politics... ...This research identifies the following specific hypotheses subordinated to the main hypotheses: 1.The European Union will become a g