Achieving Economic Development in the Era of Globalization by Shalendra D. Sharma

By Shalendra D. Sharma

Challenging assumptions concerning the advantages of particular improvement practices, this booklet presents readers with evaluation of ways competing frameworks have built and the ways in which particular improvement practices replicate particular understandings of the most debates, in addition to delivering a entire ancient assessment of makes an attempt to accomplish monetary development.


  • offers a historic evaluate of the most debates and the way they've got advanced over time
  • undertakes an exam (or particularly second look) of the connection among agriculture and poverty alleviation
  • presents an exploration of modern overseas improvement negotiations from the viewpoint of OECD countries.

Drawing at the classes of a few six many years of improvement stories and illuminating theoretical insights and collected empirical wisdom, this e-book is a key source for all scholars of improvement stories and improvement economics.

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By 1998, less than 20 percent of the world’s population was under the $2 mark, and less than 7 percent under the $1 level. Similarly, Hanson’s (2005) study on globalization and poverty in Mexico is instructive. He finds that in the 1990s, income growth fared poorly in parts of Mexico that experienced little of the effects of globalization when compared to the so-called “high exposure” states in the north. He finds that average labor earnings decreased by 10 percent for “lowexposure” states, relative to high-exposure states where export-oriented industries are located.

Specifically, free capital movements contribute to efficient allocation of capital and provide opportunities for both foreign investors and domestic residents. For lenders, the advantages include increased portfolio diversification and higher returns from more productive foreign projects. Similarly, borrowers can gain in several ways. They can obtain resources to finance cyclical downturns and balance of payments disequilibria, thus allowing them to smooth out consumption. Emerging economies can augment savings available from domestic sources and finance projects with higher social returns.

3 percent in the “severely indebted” countries. In 2001, the LDCs were spending almost 3 percent of GDP on servicing debt (World Bank 2002a). The growing problem of “debt overhang” does not only undermine urgently needed progress on policy reforms: besides discouraging private investment, lenders may be forced to allocate scarce concessional resources to keep high debtor countries afloat, often at the expense of other deserving countries. While the primary responsibility for achieving debt sustainability lies with debtor countries themselves – in particular, they must keep new borrowing in step with their ability to repay, and adopt policies that increase their resilience to exogenous shocks – the donors and creditors also have a responsibility.

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