The Anatomy of 'Failures' (Presidential Address)

1987 ◽  
Vol 26 (3) ◽  
pp. 257-274
Author(s):  
Syed Nawab Haider Naqvi
Keyword(s):  
Development Economics ◽  
Presidential Address ◽  
Basic Needs ◽  
Economic Justice ◽  
Individual Liberty ◽  
Classical Economics ◽  
The Poor ◽  
The Needy

Development economics, in its bid to attract the attention of the somewhat unchivalrous economists, has worn many masks in the intellectual ball that has been going on since 1950. And it has indeed been variously recognized by the dazzled economists - as a relentless pursuer of growth at all cost, Arthur Lewis (1954); a passionate advocate of economic justice and a purveyor of basic needs for the poor and the needy, Paul Street en (1981); a crusader against 'dependency' on some real or abstract centre, Samir Amin (1976); a revolutionary with a cause to eliminate the last traces of imperialism, feudalism and capitalism, Paul Baran (1952); a tame &alancer of growth, equity and individual liberty, Hollis B. Chenery (1983); and a pretender to the throne in a realm that rightly belongs to neo-classical economics, Deepak Lal (1983).

The Bases of Development Policy (Presidential Address)

1995 ◽  
Vol 34 (4I) ◽  
pp. 321-330
Author(s):  
Syed Nawab Haider Naqvi
Keyword(s):  
Development Economics ◽  
Development Policy ◽  
Economies Of Scale ◽  
Free Market ◽  
Presidential Address ◽  
Market Mechanism ◽  
Classical Economics ◽  
Economic Progress ◽  
Free Market Capitalism ◽  
The Government

Development economics seeks to isolate the elemental forces at work in developing countries that raise per capita income, initially and then continuously, by exploiting fully the inter-industry and inter-sectoral network of economies of scale, externalities, and complementarities; it also analyses the key factors that decide a fair distribution of the fruits of economic progress, and those which enhance human happiness more directly. The process of economic development is seen as complex, even mysterious; which must be tackled by conscious planning where coordination failures are threatening, and through the market mechanism if information problems are daunting. Yet a persistent theme in economic literature has been one of denial of the (marginal) utility of development economics. Essentially, most of these “arguments” against development economics are nothing more than a thinly disguised championing of the ideology of free-market capitalism and neo-classical economics as the ultimate truths about the economic universe [Heilbroner (1990)]. They are a frame of thought into which development economics would not fit “naturally”. As one would expect, these views about development economics have not gone unchallenged. But the main issue is far from settled. I, therefore, restate here the case for development economics to make sure that development policy is saved from the revages of an incompatible liberalist philosophy. I would concentrate on issues related to the acknowledged mainsprings of economic progress, and those related to the relationship between trade and growth and the interface of the government and the market. Finally, I would like to emphasise the need to acquire an overarching ethical vision in order to identify the ends of economic progress and to order the means to achieve them.

Development Economics: The Winds of Change (Presidential Address)

1992 ◽  
Vol 31 (4I) ◽  
pp. 341-363 ◽  
Author(s):  
Syed Nawab Haider Naqvi
Keyword(s):  
Economic Growth ◽  
Development Economics ◽  
Capita Income ◽  
Presidential Address ◽  
Physical Capital ◽  
Positive Contribution ◽  
Per Capita Income ◽  
Mainstream Economics ◽  
Classical Economics ◽  
Per Capita

Ever since its birth as a new discipline, development economics has experienced the heights of universal acclaim as a pioneer (ready to slay the dragon of poverty single-handed) as well as the depths of a heretic isolation (as an outsider to the realm of mainstream economics). Between these two views a consensus is emerging that there is a role, though a reduced one, for development economics. This role exists because the concern for growth and distribution, though in the very veins of mainstream economics, has been highlighted fully only by development economics. However, it is a somewhat reduced role because a greater recognition of the (marginal) utility of free markets, in place of an overly interventionist state - which requires it to speak the language of neo-classical economics, makes it difficult for it to differentiate its 'products' from those offered by others. There also appears to be a changing perception about the key variable(s) that development economics should focus on: the ends of development (i.e., improving the welfare of the people) rather than the means of achieving it (i.e., the growth of per capita income); a more comprehensive indicator of development composed of such components as longevity and literacy, rather than just per capita income; human capital rather than just physical capital to account for the positive contribution of educati0n and health to economic growth; the gains from international trade, instead of looking a. it as an instrument of exploitation of the 'periphery' by the 'centre'; the central role of total factor productivity in achieving high rates of economic growth; and so on.

A Tale of Two Hands' (Presidential Address)

1986 ◽  
Vol 25 (3) ◽  
pp. 225-245
Author(s):  
Syed Nawab Haider Naqvi
Keyword(s):  
Development Economics ◽  
World View ◽  
Presidential Address

This may not be the "worst of times" for the discipline of development economics, but this is also not the "best of times" for it. The discipline, rocked by a kind of schizophrenia that its votaries appear to be suffering from, is undergoing a painful, though not necessarily a Kafkaesque, metamorphosis. The consensus of the decades of the Fifties and Sixties about the nature and legitimacy of the discipline and about its 'world-view' has been seriously strained - indeed, according to some 'observers', already broken down. While the defenders of the faith [27; 36; 48] refuse to surrender, some of its erstwhile votaries [11] wish to force on the discipline a Carthaginian peace. And the dissenters [3; 24] have subjected its predictions and prescriptions to the "slings and arrows of outrageous fortune."

In Pursuit of a New Paradigm (Presidential Address)

1991 ◽  
Vol 30 (4I) ◽  
pp. 337-365
Author(s):  
Syed Nawab Haider Naqvi
Keyword(s):  
Development Economics ◽  
Publishing Industry ◽  
Time Series Data ◽  
Presidential Address ◽  
Academic Community ◽  
Full Length ◽  
Good News ◽  
Series Data ◽  
Economic Knowledge ◽  
The Subject

After 40 years of its birth, development economics has come to be widely accepted - without universal acclaim. In sharp contrast to some pessimistic evaluations of the subject, the academic community has granted it the right to a separate existence. But the recognition has not come easy. From the first full-length evaluation of the discipline by Chenery (1965), in which he looks at it as a variation on the classical theme of comparative advantage, to Stem's (1989) sympathetic review of the contributions that the discipline has made to the state of economic knowledge, development economics has experienced many a vicissitude - both the laurels of glory and the "arrows of outrageous fortune". But, finally, it has become an industry in its own right, of which not only social profitability but also 'private' profitability appears to be strictly positive: the publishing industry continues to patronize it and publish full-length books on the subject. Four decades of development experience, the production of massive cross-country and time-series data about a large number of development variables, the construction of large macro-economic models and fast-running computers, and the application of mathematical methods, have all combined to lay the foundations of a theoretically rigorous and policy-relevant development paradigm, which is gradually replacing the old one. All this is good news for development economists, who can now afford not only bread but also some butter for their daily parsnips .

The Importance of Being Defunct (Presidential Address)

1985 ◽  
Vol 24 (3-4) ◽  
pp. 211-234
Author(s):  
Syed Nawab Haider Naqvi
Keyword(s):  
Developing Countries ◽  
Development Economics ◽  
Developing World ◽  
Empirical Studies ◽  
Presidential Address ◽  
Great Expectations ◽  
Founding Fathers

For development economists these arc the days of great expectations. Development economics as a discipline, born only three decades ago, has come to stay, notwithstanding the threats to its existence issued openly by such friends as Schultz [63], Bauer [2], Little [44], and Lal [39]. New theoretical constructs have been devised and novel empirical studies done to comprehend better the forces of change in developing countries. While of late there may not have been great festivity in the realm of ideas, the force of circumstances has widened the problem canvas of development economics and has opened up new vistas for economists to explore- much beyond the expectations of its founding fathers. Also notwithstanding the great diversity in the experience of individual countries, development economists may legitimately draw some comfort from the thought that their ideas have changed the developing world for the better.

The Big Push Déjà Vu: A Review of Jeffrey Sachs's The End of Poverty: Economic Possibilities for Our Time

2006 ◽  
Vol 44 (1) ◽  
pp. 96-105 ◽  
Author(s):  
William Easterly
Keyword(s):  
New York ◽  
Development Economics ◽  
Large Scale ◽  
The Poor ◽  
World Poverty ◽  
Incentive Problems ◽  
The 1950S ◽  
Déjà Vu ◽  
Big Push ◽  
Made In

Jeffrey Sachs's new book (The End of Poverty: Economic Possibilities for Our Time, Penguin Press: New York, 2005) advocates a “Big Push” featuring large increases in aid to finance a package of complementary investments in order to end world poverty. These recommendations are remarkably similar to those first made in the 1950s and 1960s in development economics. Today, as then, the Big Push recommendation overlooks the unsolvable information and incentive problems facing any large-scale planning exercise. A more promising approach would be to design incentives for aid agents to implement interventions piecemeal whenever they deliver large benefits for the poor relative to costs.

scholarly journals Urban Poverty and Vulnerability: Literature and Perspective

2021 ◽  
Vol 5 (9) ◽  
pp. 12-18
Author(s):  
Shilpa Deo*
Keyword(s):  
Poverty Alleviation ◽  
Task Force ◽  
Urban Poverty ◽  
Research Papers ◽  
The Poor ◽  
Poverty Elimination ◽  
The Government ◽  
Set Up ◽  
The Needy ◽  
Measurement Of Poverty

The Government of India has been taking various steps towards identification of the poor (and vulnerable through the Socio Economic Caste Census) and measurement of poverty with the help of various Expert Groups right from the Task Force that was set up in 1962 to the Task Force on Poverty Elimination of the NITI Aayog. There have been many researchers as well who have been suggesting the ways in which the poor and vulnerable can be identified and poverty can be measured besides the suggestions given by the Expert Groups. However, it may be considered as a ‘national shame’ if we are unable to identify the needy even after 75 years of independence. Through the review of around 100 books, research papers and articles, an attempt has been to understand the strengths and shortcomings of suggested ways to identify the poor and vulnerable and suggest a comprehensive methodology to identify the needy. Unless we are able to identify the poor and vulnerable sections of society correctly, planning and implementing poverty alleviation programmes for “ending poverty in all its forms everywhere”1 would be a futile exercise!

An Advancement to the Grameen Bank Model

2021 ◽  
pp. 235-251
Author(s):  
Khushboo Deepakkumar Bhatt ◽  
Manali Pinank Vin
Keyword(s):  
Financial Service ◽  
Financial Inclusion ◽  
Key Factors ◽  
Comprehensive Understanding ◽  
Grameen Bank ◽  
Rural Entrepreneurship ◽  
The Poor ◽  
Poor Women ◽  
Prior Literature ◽  
The Needy

This chapter proposes the concept of the Grameen Bank initiated by Muhammad Yunus as a prototype for promoting rural entrepreneurship within the under-developed rural community governed by the digital portal. There are many factors that were considered important for the shift from microfinance to financial inclusion when proposing the model. One of the key factors is what is happening with data in general and our ability through digitization to have a more comprehensive understanding of the needs of the poor community. The Grameen model is considered as an advanced empathetic financial service that is appropriate for the needy poor women located in rural locations. By analyzing prior literature on Grameen model, in this chapter, an advancement to the existing Grameen model is proposed.

Disclosing CSR by Islamic banks: does Jaiz Bank Nigeria, Plc adopt the practice of Islami Bank Bangladesh Limited?

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Umar Habibu Umar ◽  
Sulaiman Musa
Keyword(s):  
Financial Regulation ◽  
Technical Assistance ◽  
Advisory Council ◽  
Annual Reports ◽  
Islamic Banks ◽  
Content Type ◽  
The Poor ◽  
Corporate Social ◽  
The Needy ◽  
Practical Implications

Purpose This paper aims to establish whether Jaiz Bank Nigeria, Plc (JBNP) adopts the corporate social responsibility (CSR) practice and disclosure of Islami Bank Bangladesh (IBBL) as the latter provided managerial and technical assistance to the former. Design/methodology/approach The data were extracted from the annual reports and accounts of the banks from 2013 to 2017. Findings The study established that over the period, IBBL had clearly disclosed sector-wise CSR expenditures and the number of beneficiaries, such as humanitarian and disaster relief, education, health and environment, among others, for the welfare of the poor and the needy in the country. However, the CSR practice and disclosure of IBBL have not yet been adopted by JBNP. It only discharges CSR activities through its foundation called Jaiz Foundation, with unlawful income based on the doctrine of necessity, as approved by the Financial Regulation Advisory Council of Experts (FRACE) of the Central Bank of Nigeria (CBN). Further, the total amount to expend for CSR activities is located in the statement of sources and uses of charity funds. Research limitations/implications The study covered only two Islamic Banks. Besides, only CSR aspects for the community service and development over five years were examined. Practical implications It is suggested that JBNP should adopt the CSR practice and disclosure of IBBL for the welfare of the poor and the needy in Nigeria. Social implications Adopting the IBBL CSR practice and disclosure by JBNP would contribute to the minimization of the incidence of poverty in Nigeria. Originality/value This study, to the best knowledge of the researchers, is among the few of its kind that deeply evaluated the CSR expenditure of Islamic banks solely for the welfare of the poor and the needy of the society.

Sign in / Sign up

Export Citation Format

Share Document