The recent success of China Essay

The recent success of China and other East Asian countries as well as what some characterize as disappointing achievements from the Washington Consensus, have led some to suggest that a so-called “Beijing Consensus” is replacing or should replace the Washington Consensus. If the “Washington Consensus” espoused decentralized market fundamentalism, then the “Beijing Consensus” advocates a… Continue reading The recent success of China Essay

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Developing Countries and the WTO

DEVELOPING COUNTRIES AND THE WORLD TRADE ORGANIZATION The changing orientation toward the role of trade in development, and the subsequent dramatic growth rates that have accompanied this reorientation in some societies have brought substantial and potentially profound changes to the international trade system. Rapid economic growth in the world’s most populous countries is bringing about… Continue reading Developing Countries and the WTO

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Current Account East Asian Model of Development

Current Account East Asian Model of Development Export-Oriented Strategy Rent Seeking Structural Adjustment program SUGGESTIONS FOR FURTHER READING On the East Asian Model of Development, see Robert Wade, Governing the Market: Eco- nomic Theory and the Role of Government in East Asian Industrialization (Princeton, NJ: Princeton University Press, 1990), Stephan Haggard, Pathways from the Periphery:… Continue reading Current Account East Asian Model of Development

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Neoliberalism and structuralism

Neoliberalism supplanted structuralism as the guiding philosophy of economic development as a result of the interplay among three factors in the global econ- omy. Import substitution generated severe economic imbalances that created pressure for reform of some type. The success of East Asian countries that ad- opted an export-oriented development strategy provided an alternative model… Continue reading Neoliberalism and structuralism

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Foreign Direct Investment Outflows

Foreign Direct Investment Outflows, 1986–2008 ($U.S. Billions) 1986–1991 1998–2002 2003–2006 2007–2008 World 80.5 856.9 872.6 2,002.0 European Union 100.4 566.5 457.0 1,015.0 North America 31.3 176.4 180.4 413.7 Japan 33.1 29.8 38.9 10.8 Southeast Asia 8.3 46.3 12.6 180.6 Eastern Europe n.a.* 2.4 14.4 1.1 Latin America n.a. 8.4 33.6 57.5 Africa n.a. 0.8 3.5… Continue reading Foreign Direct Investment Outflows

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Parent Corporations and Affiliates by Region

Parent Corporations and Affiliates by Region, 2008 Year Parent Corporations Based in the Economy Foreign Affiliates Based in the Economy Developed Economies 2008 58,783 366,881 European Union 2008 43,492 335,577 United States 2002 2,418 5,664 Other Developed Economies 2008 7,161 9,721 Japan 2006 297 489 Developing Economies 2008 21,425 425,258 Africa 2008 746 6,084 Latin… Continue reading Parent Corporations and Affiliates by Region

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