The Political Economy of Poverty, Equity, and Growth A Comparative Study

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ISBN: 9780198294320 | 0198294328
Cover: Paperback
Copyright: 3/18/1999

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This wide-ranging and innovative book synthesizes the findings of a major international study of the political economy of poverty, equity, and growth. It represents an ambitious interdisciplinary attempt to identify patterns in the interplay of initial conditions, institutions, interests, and ideas which can help to explain the different growth and poverty alleviation outcomes in the Third World.

LIST OF FIGURES

xvi

(1)

LIST OF TABLES

xvii

INTRODUCTION

(24)

I. DESIGN OF THE COMPARATIVE STUDY

(2)

II. ANALYTICAL ECONOMIC HISTORY

(4)

1. The Logic of Comparative Studies

(2)

2. Forensic Story-Telling

(2)

3. Conclusion

(1)

III. POLITICAL ECONOMY

(9)

1. The `New' Political Economy

(5)

2. Economics of Imperfect Information

(1)

3. Implications

(1)

IV. SYNOPSIS OF THE SYNTHESIS VOLUME

(3)

Notes to Introduction

(6)

1. POVERTY, EQUITY, AND GROWTH

(25)

I. WEALTH AND WELFARE

(9)

1. Real Income

(1)

2. Equality or Equity?

(3)

3. Poverty

(4)

4. Conclusions

(1)

II. THREE TYPES OF POVERTY

(3)

1. Structural Mass Poverty

(2)

2. Destitution

(1)

3. Conjunctural Poverty

(1)

4. Alleviating Destitution and Conjunctural Poverty

(1)

III. TWO ETHICAL TRADITIONS AND POVERTY ALLEVIATION

(2)

1. Classical Liberalism

(1)

2. Distributivist Egalitarianism

(1)

IV. GROWTH, INEQUALITY, AND POVERTY ALLEVIATION

(5)

Notes

(6)

2. AGGREGATE GROWTH OUTCOMES

(84)

I. THE PROXIMATE CAUSES OF GROWTH

(15)

II. NEOCLASSICAL GROWTH MODELS

(3)

III. ENDOGENOUS GROWTH THEORIES

(9)

1. Scott's Growth Framework

(6)

2. Entrepreneurship

(3)

IV. DOES OPENNESS MATTER?

(15)

1. Theory

(3)

2. Cross-Country Regressions

(3)

3. Case-Studies of Asian Miracle Economies

(8)

V. THE THREE-FACTOR OPEN-ECONOMY GROWTH FRAMEWORK

100

(20)

Notes

120

(14)

3. COUNTRY PROFILES

134

(53)

I. THE METHOD OF PAIRING COUNTRIES

134

(4)

II. FIVE SMALL OPEN ECONOMIES

138

(5)

III. SRI LANKA AND MALAYSIA

143

(6)

IV. THAILAND AND GHANA

149

(7)

V. BRAZIL AND MEXICO

156

(5)

VI. URUGUAY AND COSTA RICA

161

(3)

VII. COLOMBIA AND PERU

164

(4)

VIII. EGYPT AND TURKEY

168

(3)

IX. NIGERIA AND INDONESIA

171

(9)

X. MALAWI AND MADAGASCAR

180

(5)

Notes

185

(2)

4. THE ROLE OF INSTITUTIONS AND ORGANIZATION

187

(26)

I. INTRODUCTING A GREATER INSTITUTIONAL CONTENT

188

(3)

II. PEASANT EXPORT ECONOMY AND PLANTATION AND MINING ECONOMY

191

(5)

III. THE EFFECTS OF IMPORT-SUBSTITUTION POLICIES

196

(4)

IV. THE TRANSITION TO MANUFACTURED EXPORTS

200

(7)

V. REINTERPRETING THE COUNTRY STORIES

207

(4)

1. The Small Economies

207

(1)

2. The Peasant Export Economies

207

(1)

3. The Plantation and Mining Economies

208

(1)

4. The Mixed Cases

209

(2)

Notes

211

(2)

5. INSTABILITY AND GROWTH

213

(46)

I. DIMENSIONS OF GROWTH INSTABILITY

213

(3)

II. THE CONSEQUENCES FOR GROWTH PERFORMANCE OF MACROECONOMIC INSTABILITY

216

(6)

1. Exogenous Shocks

216

(3)

2. Endogenous Policy-Induced Shocks

219

(1)

3. Interaction of Exogenous and Endogenous Shocks

219

(3)

III. CAUSES OF GROWTH COLLAPSES

222

(12)

1. Trade Orientation

222

(2)

2. Inflation and Fiscal Deficits

224

(2)

3. Exogenous Shocks and Misalignment of Real Exchange Rates

226

(8)

IV. SOURCES OF FISCAL IMBALANCES

234

(4)

Appendix

238

(14)

Notes

252

(7)

6. THE POLITY AND ECONOMIC PERFORMANCE

259

(46)

I. MODELS OF THE STATE

260

(13)

1. The Autonomous State

260

(4)

2. A Model of the Autonomous State

264

(3)

3. Relevance of the Model

267

(2)

4. A Model of the Factional State

269

(2)

5. Dynamic Interactions between Policies and the Polity

271

(2)

II. CLASSIFICATION OF POLITIES AND RELATIONSHIP TO OVERALL GROWTH PERFORMANCE

273

(4)

1. Classification

273

(3)

2. Classification by Region and Resource Endowments

276

(1)

3. Conclusion

276

(1)

III. RESOURCE ENDOWMENTS, THE POLITY, AND ECONOMIC PERFORMANCE

277

(10)

1. Land-Abundant Countries

278

(4)

2. Labour-Abundant Countries

282

(2)

3. Countries with Intermediate Resource-Endowments

284

(3)

IV. THE POLITICAL ECONOMY OF REFORM

287

(12)

1. Turning-Points

288

(1)

2. Crises 2. Crises

288

(7)

3. Path-Dependent Policies and Political Economic Equilibria

295

(4)

Notes

299

(6)

7. IDEAS, IDEOLOGY, AND ECONOMIC POLICY

305

(18)

I. TWO RIVAL VIEWS OF THE STATE AND SOCIETY

305

(3)

II. ECONOMIC NATIONALISM

308

(4)

III. NATION-BUILDING AND THE RISE AND FALL OF MERCANTILISM

312

(3)

IV. THE RISE AND FALL OF ECONOMIC LIBERALISM

315

(4)

Notes

319

(4)

8. PERSPECTIVE ON ECONOMIC POLICY

323

(25)

I. THE RELATION BETWEEN OUR APPROACH AND THE NEOCLASSICAL APPROACH TO ECONOMIC POLICY

324

(4)

II. `CAPITAL FUNDAMENTALISM' AND `INDUSTRIAL FUNDAMENTALISM'

328

(4)

III. REDRESSING THE ANTI-AGRICULTURAL BIAS AND AGRICULTURAL `FUNDAMENTALISM'

332

(4)

IV. REDISTRIBUTIVE POLICIES AND LAND REFORM

336

(10)

Notes

346

(2)

9. INCOME TRANSFERS AND POVERTY REDRESSAL

348

(45)

I. MASS POVERTY AND GROWTH: THE EVIDENCE FROM THE COUNTRY STUDIES

348

(3)

II. THE DIRECT METHOD OF ALLEVIATING STRUCTURAL POVERTY

351

(6)

1. Cross-Sectional Evidence

351

(3)

2. Evidence from Country Studies

354

(3)

III. CONJUNCTURAL POVERTY, DESTITUTION, AND TRANSFERS

357

(9)

1. Safety Nets and Welfare States

357

(1)

2. Labour-Market Risks

358

(2)

3. Imperfect Information, Insurance, and the Welfare State

360

(6)

IV. PRIVATE VERSUS PUBLIC TRANSFERS IN SOCIAL SAFETY NETS

366

(7)

1. Private Transfers

367

(3)

2. Public Transfers

370

(3)

V. THE POLITICAL ECONOMY OF PUBLIC INCOME TRANSFERS

373

(6)

VI. UNINTENDED CONSEQUENCES OF WELFARE STATES

379

(2)

VII. CLASSICAL LIBERAL PRINCIPLES AND LABOUR-MARKET INSURANCE

381

(1)

VIII. GUIDE-LINES FOR PUBLIC ACTION ON SOCIAL SAFETY NETS

382

(5)

Notes

387

(6)

10. ON FOSTERING POVERTY-REDRESSING GROWTH

393

(17)

I. SUMMARY OF FINDINGS

393

(8)

1. Poverty and Equity

393

(2)

2. Growth Performance

395

(1)

3. Stylized Patterns: Endowments, Polity, and Economic Policy

396

(5)

4. Nationalism, Dirigisme, and Liberalization

401

(1)

II. TOWARDS A LIBERAL ECONOMIC FRAMEWORK FOR POLICY

401

(5)

Notes

406

(4)

REFERENCES

410

(27)

INDEX

437

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The Political Economy of Poverty, Equity, and Growth A Comparative Study

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