Neoliberalism, Investment and Growth in Latin America Jayati Ghosh and C.P. Chandrasekhar

The recent experience of most economies in Latin America contradicts the argument that neoliberal market-oriented policies are necessary for increasing investment and growth, even if they may have harmful effects on distribution and social sectors. This calls for a serious reconsideration of the idea that such policies are necessary for higher investment and more economic growth. Neoliberalism (Download the full text in PDF format)

FDI Flows into Japan: Changing Trends and Patterns Smitha Francis

This paper argues that the rising prominence of FDI inflows into Japan - a traditional top global outward investor, portends a significant element of the overall changes taking place in global FDI trends and has to be seen against the backdrop of the historically sweeping reforms in Japan's financial and corporate sector laws. The latter has been undertaken largely in response to the external pressures following the financial liberalisation-linked asset bubble burst and the subsequent protracted recession of the 1990s. The rising foreign participation suggests ownership changes in the domestic corporate and financial sector as well as changes in Japan's…

The Green Barrier to Free Trade C.P. Chandrasekhar, Jayati Ghosh and Parthapratim Pal

As the March 31 deadline for completing the "modalities" stage of the proposed new round of negotiations on global agricultural trade passed without any consensus, hopes of an agreement within the timeframe set by WTO are increasingly waning. This paper examines the various factors and players on the issue. Green_Barrier_Free_Trade (Download the full text in PDF format)

Export Dynamism and Growth in Chile since the 1980’s Ricardo Ffrench-Davis

The high export growth that Chile witnessed started from the seventies, and was supposedly triggered off by the trade liberalising reforms in that period. A more detailed look into the export pattern reveals separate and distinct phases not always of high growth, and which were clearly determined by the macroeconomic policies and the specific nature of the reform programmes that were in existence in each of these phases over the last three decades. export_dynamism_chile (Download the full text in PDF format)

Summits, Sustainable Development and Stability Jayati Ghosh

The weariness and cynicism the phrase arouses are almost palpable. "Another UN Summit" people say, as their eyes glaze over and they shrug their shoulders, barely having the enthusiasm to enquire about the objectives, the means to be adopted, or even the participants. And at one level, such impatience with UN Summits is completely understandable. In the past decade, there have been at least seven major UN Summits, including the first Earth Summit in Rio in 1992, the Population Summit in Cairo in 1995, the Social Summit in Copenhagen and the Women’s Conference in Beijing in 1995, the Habitat II…

The WTO, the Post – Doha agenda and the Future of the Trade System : A development perspective Martin Khor

The rules and operations of the WTO have been major effects on the development policies of its developing country Members. The procedures and methods used before and at Doha also have not been transparent. Given the problems and imbalances in world trade, there is a need to rethink the dominant model of trade policy that has advocated across-the-board rapid liberalisation for developing countries. post_doha_agenda (Download the full text in PDF format) (This paper, as well as many other useful analytical papers on WTO issues are available at the TWN website www.twnside.org.sg)

Trade Rout Dani Rodrik

Argentina's default on its $132 billion public debt on December 23 hardly came as a surprise to its foreign creditors, who had anticipated it for many months. It had been clear to most outside observers that the country's currency-board regime, which locks in the Argentinean peso's value one-to-one with the U.S. dollar, had held the peso at an unsustainable level vis-à-vis other currencies. It was also evident that Argentina's political system would be unlikely to deliver the belt-tightening needed to service foreign creditors ahead of domestic payments on wages, pensions, and other obligations. So, when President Fernando de la Rúa…