scholarly journals Economics and Emigration: Trillion-Dollar Bills on the Sidewalk?

2011 ◽  
Vol 25 (3) ◽  
pp. 83-106 ◽  
Author(s):  
Michael A Clemens
Keyword(s):  
Low Income ◽  
Global Economy ◽  
Low Income Countries ◽  
Economic Losses ◽  
Single Class ◽  
Poor Countries ◽  
Migration Barriers ◽  
Binding Constraints

What is the greatest single class of distortions in the global economy? One contender for this title is the tightly binding constraints on emigration from poor countries. Vast numbers of people in low-income countries want to emigrate from those countries but cannot. How large are the economic losses caused by barriers to emigration? Research on this question has been distinguished by its rarity and obscurity, but the few estimates we have should make economists' jaws hit their desks. The gains to eliminating migration barriers amount to large fractions of world GDP—one or two orders of magnitude larger than the gains from dropping all remaining restrictions on international flows of goods and capital. When it comes to policies that restrict emigration, there appear to be trillion-dollar bills on the sidewalk.

scholarly journals African Studies Keyword: Oil

2021 ◽  
Vol 64 (2) ◽  
pp. 458-483
Author(s):  
John R. Heilbrunn
Keyword(s):  
Environmental Degradation ◽  
Low Income ◽  
Global Economy ◽  
Causal Agent ◽  
Low Income Countries ◽  
African Studies ◽  
Local Content ◽  
Post Conflict ◽  
Key Concepts ◽  
Oil Curse

AbstractOil is a metonym for terms in books and articles in diverse disciplines in African studies. Some portray oil as a causal agent that thrusts formerly low-income countries into the highly competitive neoliberal global economy. Others present it according to the oil curse/blessing binary. As a curse, petroleum causes dysfunctional and costly behavior. But increased revenues from oil just as certainly result in concrete improvements demonstrating a resource blessing. Heilbrunn uses case materials to explore environmental degradation, oil theft, community-company relations, post-conflict reconstruction, local content in contracts, and corruption. These key concepts form a basis for the keyword/concept essay on oil in Africa.

scholarly journals Somalia

2020 ◽  
Vol 20 (86) ◽  
Author(s):  
Keyword(s):  
Low Income ◽  
Net Present Value ◽  
Debt Relief ◽  
Debt Management ◽  
Policy Framework ◽  
Low Income Countries ◽  
Debt Sustainability ◽  
Poor Countries ◽  
Heavily Indebted Poor Countries ◽  
Hipc Initiative

This paper presents an assessment of Somalia’s eligibility for assistance under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The macroeconomic framework reflects the policy framework underlying the proposed three-year Fund-supported program. The debt relief analysis (DRA) remains largely unchanged, but some of the underlying debt data has been updated to reflect new information from creditors. In addition, this paper presents an assessment of debt management capacity in Somalia and a full Debt Sustainability Analysis under the Debt Sustainability Framework for Low-Income Countries. The DRA reveals that, after traditional debt relief mechanisms are applied, Somalia’s debt burden expressed as the net present value of debt-to-exports ratio is 344.2 percent at the end of December 2018—significantly above the HIPC Initiative threshold. Despite the challenging environment, progress on reform and policy implementation has been good and sustained reforms have translated into economic results. In addition to the coordinated support from the World Bank and the IMF, reforms have been supported by other development partners.

A New Development Opportunity Confronts Old Paradigms

2011 ◽  
pp. 171-198
Author(s):  
Peter A. Kwaku Kyem
Keyword(s):  
Development Strategy ◽  
Low Income ◽  
Low Income Countries ◽  
Development Discourse ◽  
Poor Countries ◽  
Technological Gap ◽  
Local Actors ◽  
Information And Communication ◽  
Developed Nations ◽  
Ict For Development

There is a considerable debate about how the technological gap between rich and poor countries of the world can be bridged or eliminated. Technological optimists argue that Information and Communication Technology (ICT) can bring accelerated development to poor countries. Others question the viability of relying on ICT for development in low income countries. The ensuing debate has masked the digital divide problem and prevented a true discussion of how ICT can be deployed for the benefit of low income countries. On the otherhand, confronted with the persistent failures of one-size-fits-all economic development models, low income countries can no longer treat modernization as the pivot towards which all ICT-related development efforts must gravitate. There is a need to drop the singular vision of development which is premised on the experiences of Western developed nations and rather restore local actors and their cultures into the actual roles they play in development processes that occur within localities. Accordingly, this chapter reviews the perspectives that currently shape the ICT for development discourse and offers the multiplicity theory to bridge the gap in development theory and promote a development strategy which incorporates activities of both local and global actors in the development of localities.

Quota and Voice Reform - Stocktaking and Further Considerations, Statistical Appendices I and II, Statement by the Managing Director, and Summing Up of the Board Meeting

Policy Papers ◽  
2007 ◽  
Vol 2007 (47) ◽  
Author(s):  
Keyword(s):  
Low Income ◽  
Global Economy ◽  
World Economy ◽  
Emerging Market ◽  
Low Income Countries ◽  
Board Meeting ◽  
Executive Board ◽  
Board Of Governors ◽  
New Formula ◽  
The Voice

At its Spring Meeting, the IMFC reiterated the importance of implementing the program of quota and voice reforms in line with the timetable set out by the Board of Governors in Singapore. The Committee welcomed the initial informal Board discussions on a new quota formula and stressed the importance of agreeing on a new formula, which should be simple and transparent and should capture members’ relative positions in the world economy. It noted that this reform would result in higher shares for dynamic economies, many of which are emerging market economies, whose weight and role in the global economy have increased. The Committee also stressed the importance of enhancing the voice and participation of low-income countries, a key issue for which is an increase in basic votes, at a minimum preserving the voting share of low-income countries. The Committee called on the Executive Board to continue its work on the reform package as a matter of priority.

Staff Guidance Note on the Application of the Joint Fund-Bank Debt Sustainability Framework for Low-Income Countries

Policy Papers ◽  
2008 ◽  
Vol 2008 (3) ◽  
Author(s):  
Keyword(s):  
Low Income ◽  
Debt Relief ◽  
Low Income Countries ◽  
Bank Debt ◽  
Debt Sustainability ◽  
Poor Countries ◽  
Guidance Note ◽  
Heavily Indebted Poor Countries ◽  
Alternative Scenarios ◽  
Sustainability Framework

The objective of the joint Fund-Bank debt sustainability framework for low-income countries is to support LICs in their efforts to achieve their development goals without creating future debt problems. Countries that have received debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI) need to be kept on a sustainable track. Under the framework, country DSAs are prepared jointly by Bank and Fund staff, with close collaboration between the two staffs on the design of the macroeconomic baseline, alternative scenarios, the debt distress rating, and the drafting of the write-up.

scholarly journals Technological Spillover, Growth Convergence And Technical Progress: Does technology flow from rich to poor economies?

2020 ◽  
Vol 8 (4) ◽  
pp. 132-145
Author(s):  
Oladele O Aluko ◽  
B. Sabiu Sani
Keyword(s):  
Economic Growth ◽  
Technical Progress ◽  
Low Income ◽  
Generalized Method Of Moments ◽  
Low Income Countries ◽  
Dynamic Panel Model ◽  
Poor Countries ◽  
Growth Convergence ◽  
Using Data ◽  
The One

This study examines Technology spillover from rich to poor countries, the study used a model that, at the aggregate level, is similar to the one sector neoclassical growth model. The model was estimated using data on technical progress, Average Product Per-Worker, Capital Stock and Technology Intensive Goods in 25 countries which consist of rich and poor countries over the last decade. A dynamic panel model is formulated and estimated Using Generalized method of moments by Arelano and Bond; and the implications of the estimates were evaluated for aggregate total factor productivity and economic growth. The results reveal that, on average, technology have contributed more to economic growth in high income economies and on the contrary technology have made little or no contribution in low income countries. Consequently, there is substantial variation across technologies and economies

scholarly journals Aid to education and sustainable development

2019 ◽  
Vol 9 (2) ◽  
pp. 816-837
Author(s):  
Keith Lewin
Keyword(s):  
Sustainable Development ◽  
Low Income ◽  
Comparative Education ◽  
Development Aid ◽  
Low Income Countries ◽  
The Sustainable Development ◽  
Poor Countries ◽  
Accelerate Development ◽  
Development Goals ◽  
National Investment

The Sustainable Development Goals commit all countries to make rights to education realities for all children. Most of those out of school, and in school but not learning, are in Low Income Countries. Poor countries allocate 3%-4% of GDP to education. 6% is needed to finance universal primary and secondary school. Aid can help. However, aid to education in poor countries has stagnated since 2010 at USD 12 Billion annually. Aid can accelerate development that is self-sustaining through investment in human capitals and the promotion of public goods. Over the last three decades national investment has helped some countries transform their education systems. In other countries progress has been disappointing. The challenge for old and new donors to education is how should future aid be provided to promote sustainable development aid and how can Comparative Education help?

scholarly journals COVID-19 Recession: The Global Economy in Crisis

2020 ◽  
Author(s):  
Mehmet Balcılar
Keyword(s):  
World War Ii ◽  
Financial Markets ◽  
Low Income ◽  
Global Economy ◽  
Global Scale ◽  
Commodity Markets ◽  
Low Income Countries ◽  
Global Recession ◽  
The World ◽  
Recent Developments

In January 2020, the International Monetary Fund (IMF) predicted that the world economy would grow by 3.3% in 2020. However, in its latest forecasts, in April, it predicts a contraction of 3.0%, without growth prospects and with numerous risks. The World bank even forecasts a 3.6% contraction in 2020. These forecasts are already seen as overestimates. Most baseline forecast envisions the deepest global recession since World War II. This study analyzes various economics impacts of the COVID-19 on a global scale. If the global recession expected due to the effects of the coronavirus (COVID-19) would lead to a decline in growth rate of global gross domestic product (GDP) between 2.0% and 10.% in all countries in 2020, the number of unemployed people in the net food importer countries would increase between 14.4 million and 80.3 million; the biggest part of the increase would occur in low-income countries. As the pandemic has shown its most severe impact on the largest world economies, the study considers the developments in United States, Euro Area, Japan and China. The recessions in these parts of the world spreads to the other countries and one should primarily consider these regions. Next we consider the trends in global trades, financial markets, and commodity markets. In association with the four regions of the global economy and trends in global trade, financial markets and commodity markets we consider recent developments in emerging markets.

Europe's Crisis of Legitimacy

2020 ◽  
Author(s):  
Vivien A. Schmidt
Keyword(s):  
Low Income ◽  
Best Practice ◽  
Critical Mass ◽  
Large Body ◽  
Developed Countries ◽  
Sub Saharan Africa ◽  
Low Income Countries ◽  
Infrastructure Development ◽  
Poor Countries ◽  
Sub Saharan

Expectations are high regarding the potential benefits of public–private partnerships (PPPs) for infrastructure development in poor countries. The development community, led by the G20, the United Nations, and others, expects PPPs to help with “transformational” megaprojects as well as efforts to achieve the Sustainable Development Goals (SDGs). But PPPs have been widely used only since the 1990s. The discussion of PPPs is still dominated by best-practice guidance, academic studies that focus on developed countries, or ideological criticism. Meanwhile, practitioners have quietly accumulated a large body of empirical evidence on PPP performance. The purpose of this book is to summarize and consolidate what this critical mass of evidence-based research says about PPPs in low-income countries (LICs) and thereby develop a more realistic perspective on the practical value of these mechanisms. The focus of the book is on Sub-Saharan Africa (SSA), home to most of the world’s poorest countries, although insights from other regions and more affluent developing countries are also included. Case studies of many of the best-known PPPs in Africa are used to illustrate these findings. This book demonstrates that PPPs have not met expectations in poor countries, and are only sustainable if many of the original defining characteristics of PPPs are changed. PPPs do have a small but meaningful role to play, but only if expectations remain modest and projects are subject to transparent evaluation and competition. Experiments with PPP mechanisms underway in some countries suggest ways in which PPPs may be evolving to better realize benefits in poor countries.

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