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| Reclaiming
Development: An Alternative Economic Policy Manual |
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| Author:
Ha-Joon Chang and Ilene Grabel |
Published
by: Zed Books, UK |
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Click to Enlarge
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The driving assumption
within the international development policy establishment
is that 'there is no alternative' to neo-liberal
economics and globalisation. In 'Reclaiming Development'
Ha-Joon Chang and Ilene Grabel explain what this
dominant school says about how economies develop
and the economic policies it imposes worldwide.
By analysing the actual historical experiences
of the leading Western and East Asian economies
during their development, the authors question
the validity of the neo-liberal development model.
Turning to policy, the authors set out concrete,
practical alternatives |
to neoliberalism
across the key economic areas: trade and industrial
policy; privatisation; intellectual property rights;
external borrowing, portfolio and foreign direct
investment; domestic financial regulation; and
management of exchange rates, central banking
and monetary policy, and government revenue and
expenditure. In doing so, they advocate the most
useful proposals that have emerged around the
world along with some innovative measures of their
own.
This empowering and accessible book seeks to be
of practical usefulness to students of development
and to those, in government and beyond, looking
for concrete policy ideas.
Contents
Introduction: Reclaiming Development
Part I. Myths and Realities
about Development
Introduction
1. Myth 1: Today's Wealthy Countries Achieved
Success through a Steadfast
Commitment to the
Free Market
2. Myth 2: Neo-liberalism Works
3. Myth 3: Neoliberal Globalisation Cannot and
Should Not be Stopped
4. Myth 4: The Neo-liberal American Model of Capitalism
Represents the Ideal that All
Developing Countries
Should Seek to Replicate
5. Myth 5: The East Asian Model is Idiosyncratic;
the Anglo- American Model is
Universal
6. Myth 6: Developing Countries Need the Discipline
Provided by International
Institutions and Politically
Independent Domestic Policymaking Institutions
Part II. Economic Policy
Alternatives
7. Policy Alternatives 1: Trade and Industry
8. Policy Alternatives 2: Privatisation and Intellectual
Property Rights
9. Policy Alternatives 3: International Private
Capital Flows
10. Policy Alternatives 4: Domestic Financial
Regulation
11. Policy Alternatives 5: Macroeconomic Policies
and Institutions
Conclusion: Obstacles
and Opportunities for Reclaiming Development.
About the Author
Dr Ha-Joon Chang is Assistant Director of Development
Studies in the Faculty of Economics and Politics,
University of Cambridge, UK. Born in the Republic
of Korea, and educated at the Seoul National University
and subsequently at Cambridge. His books include
Kicking Away the Ladder - Development Strategy
in Historical Perspective (Anthem, 2002), and
Globalisation, Economic Development, and the Role
of the State (Zed, 2003). Since 1992 he has also
served on the editorial board of the Cambridge
Journal of Economics. He was a member of the Advisory
Panel for the Human Development Report, 1999 and
has acted a research project coordinator and consultant
to numerous UN agencies and international agencies
including the World Bank, the Asian Development
Bank, the British Government's DfID, and the IDRC
in Canada, and the South African Government's
DTI.
Ilene Grabel is Associate Professor and Co-Director
of the graduate program in Global Finance, Trade
and Economic Integration at the Graduate School
of International Studies of the University of
Denver. She also lectures at the Cambridge University
Advanced Programme on Rethinking Development Economics.
Grabel has published widely in academic journals
on financial policy and crises, international
capital flows, and central banks and currency
boards. She has worked as a consultant to the
UN/UNCTAD Group of Twenty-Four and the UN University's
World Institute for Development Economics Research
and works with the international NGO coalition,
"New Rules for Global Finance." |
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| June 30, 2004. |
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