Development

A model that captures key vulnerabilities and structural weaknesses of developing countries' trade and production structures.

Our new INET working paper began as a background study for UNCTAD’s Trade and Development Report 2022. Since then, the world has evolved, but this essay has the same purpose as the original: To assess from the perspective of the Balance of Payments Constrained Growth (BPCG) model, the key current challenges to developing countries that spring from two broad types of factors they cannot control. These are, first, global shocks that affect the world economy at large and, second, major macro or trade policy changes in developed countries. The BPCG perspective helps to identify to what extent these challenges are rooted in or conditioned by the developing countries' financial vulnerabilities and structural weaknesses linked to their roles in international trade and capital markets.

Vera Songwe, Chair of the Liquidity and Sustainability Facility, and former Executive Secretary of the UN Economic Commission for Africa, on the multiple crises facing African countries.

Songwe is co-chair of the Independent High-Level Expert Group on Finance for Climate Action, a member of the Global Financial Alliance for Net Zero (GFANZ), and a nonresident senior fellow at the Brookings Institution. Songwe was previously Under-Secretary-General at the United Nations and Executive Secretary of the United Nations Economic Commission for Africa. Recognized as one of Africa’s 100 most influential people in 2022 and recipient of the All Africa Continental Leadership Award, Songwe was named one of the nominees for Forbes Africa 50 Top Women in 2023. She recently co-authored a book entitled Regional Integration in West Africa: Is There a Role for a Single Currency? She has spent the last three years championing the cause for additional liquidity for emerging markets and the need for a new global financial architecture fit for the 21st century’s development challenges.

Honorary Vice President at IMANI Center for policy and education, Bright Simons, on the challenges Ghana is facing

Bright Simons is honorary Vice President at IMANI Center for policy and education, a think tank dedicated to policy and research on rule of law, market growth and development, individual rights, and human security and institutional development. He previously served on the World Economic Forum's Africa Strategy Group.

If primary commodities and mid-to-high-tech manufacturing products are produced by industries with different wage shares, there are distributive implications of deepening trade integration with certain regions with respect to others.

How can we quantify the wage share implied by varying degrees and types of participation to Global Value Chains?

A stable labor share has long been a stylized fact of advanced capitalist development (Kaldor, 1961). A key premise was that productivity increases would accrue to labor through real wage increases, which would tend to hold constant the share of wages in net output.

...the platform exposes even beginner programmers to the gender-biases of technical communities.

The post Gender Bias and Reputation on Stack Overflow appeared first on Zeldman on Web and Interaction Design.

China’s successful technological development path stands in contrast to the corporate financialization model in the United States

China’s successful technological development path stands in contrast to the corporate financialization model in the United States

In our INET working paper, "China’s Development Path,” we employ the “social conditions of innovative enterprise” framework to analyze the key determinants of China’s development path from the economic reforms of 1978 to the present. First, we focus on how government investments in human capabilities and physical infrastructure provided foundational support for the emergence of Chinese enterprises capable of technological learning.

Why to Be Wary of Another Volcker-Type Monetary Tightening

For a long time, stagflation was thought to be a thing of the past. But now there is a real risk of it coming back, warns the Bank for International Settlements (BIS 2022), the ‘central bank’ for the world’s central banks. High inflation is expected to be around for a prolonged period of time—as a result of the recurring reinstatements of lockdowns in China, the surge in global energy and commodity prices following Russia’s war in Ukraine, global warming, and the breakdown of global supply chains due to geopolitical tensions.

Fears of ‘stagflation’ have come back to haunt macroeconomic policy makers all over the globe