The political economy of national development: A research agenda after neoliberal reform?

Naseemullah, Adnan

doi:10.1016/j.worlddev.2023.106269

Cited by 6 publications

(1 citation statement)

References 67 publications

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“…This emphasis of domestic political economy was, in fact, an important aspect of earlier dependency analyses that is often overlooked, as recently discussed by Naseemullah (2023). 13 Emphasizing external subordination and exploitation while not giving equal attention to the domestic political Lloyd economy dynamics that reproduce such subordination leads to rather simplistic dependency analysis that is easily criticized.…”

Section: Proximate Causes Policy Choices and The Limits Of Structural...mentioning

confidence: 99%

The Return of Debt Crisis in Developing Countries: Shifting or Maintaining Dominant Development Paradigms?

Fischer,

Storm

2023

Development and Change

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In the aftermath of the COVID‐19 pandemic, much of the global South has been immersed in a debt crisis of a breadth and depth not seen since the early 1980s. The debt distress was apparent before the pandemic and the situation over the last decade is best described as a slow burn, which the pandemic and war in Ukraine ignited in often sudden and dramatic ways. However, what remains a surprising feature of the ongoing situation has been the avoidance so far of a generalized domino effect, unlike previous systemic Southern debt crises. This fact does not diminish the severity of the consequences given that the containment of crisis has been achieved by regular and persistent applications of austerity and adjustment programmes with deleterious impacts on development in poor countries. This article frames the Debate by exploring these aspects of the current Southern debt crisis, focusing on its deeper structural drivers versus the role of more proximate triggers of the crisis; the similarities or differences with past crises of recent decades; and the degree to which anything has in fact changed in orthodox responses to crisis management. A theme that emerges from the more heterodox scholarship profiled by this Debate is that the current crisis and its responses are maintaining the dominant development paradigm of the last 40 years, rather than eliciting a shift away from it. There is a continued adherence to neoliberal ideology in macroeconomic policy making and to the punitive subordination of developing countries in debt distress, through crisis responses, to the Northern and especially US‐centred international financial system. Ignoring the very strong similarities to the past, especially the 1982 debt crisis that ushered in this paradigm, risks repeating the lost decades to development that followed.

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Section: Proximate Causes Policy Choices and The Limits Of Structural...mentioning

confidence: 99%

The Return of Debt Crisis in Developing Countries: Shifting or Maintaining Dominant Development Paradigms?

Fischer,

Storm

2023

Development and Change

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The power of mineral: Shock of the global supply chain from resource nationalism

Dou,

Zhu,

Liu

et al. 2024

World Development

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Global North–South Reparations: Demand‐side and Supply‐side Policies with a Dynamic View of International Trade and Finance

Lahiri,

Darity

2024

Development and Change

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This study begins with an overview of illustrative scenarios that historically have resulted in imbalances of economic well‐being, growth and stability which demarcate the Global South and the Global North. The authors examine alternative approaches to reparations for those structural imbalances, from monetary transfers that are more likely to have demand‐side implications to capacity‐building approaches that are more likely to affect supply‐side conditions for the Global South. Targeted supply‐side strategies lean more towards rehabilitation rather than purely compensatory measures aimed at redress for historical injustices and exploitations faced by the Global South. Economic analysis underpins a discussion of these different reparations strategies. The authors argue that a dynamic approach to understanding the impact of reparations is essential. This calls for a broader strategy to be adopted, offering unconditional support in practical areas such as industrial policy, investment in manufacturing, capacity building in research and development, and initiatives for general infrastructure development. More importantly, these policies must be guided by the needs identified by the people of the nations in the Global South. Moreover, for any reparations endeavours to have enduring effects, they must be reinforced by the elimination of current external imbalances that exist within the frameworks of international economic relations.

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The political economy of national development: A research agenda after neoliberal reform?

Cited by 6 publications

References 67 publications

The Return of Debt Crisis in Developing Countries: Shifting or Maintaining Dominant Development Paradigms?

The Return of Debt Crisis in Developing Countries: Shifting or Maintaining Dominant Development Paradigms?

The power of mineral: Shock of the global supply chain from resource nationalism

Global North–South Reparations: Demand‐side and Supply‐side Policies with a Dynamic View of International Trade and Finance

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