Notes

Topics: Economics, International trade, Economic integration Pages: 9 (940 words) Published: September 11, 2013
I. The Role of the State and Public Planning: Central Tasks
Maintain civilized order
law and order
provision of publicgoods

II. Rationale for Development Planning
Market Failure
Resource Mobilization
Psychological Impact
Foreign Aid

III Strengths of the Public Sector
rep commonweal
provision of public goods
cap to improve equity

III Weaknesses of the Public Sector:
public purpose
pressure
bureacracy

IV Failures in State Planning
theory vs practice
poor history

V What Markets Do
allocate resources
communicate - incentives - orchestrate

V Advantages or Strengths of the “Market Mechanism”
spontaneous
incentive to self-activation
economic discipline

V Weaknesses or Disadvantages: “Market Failures”
public goods not provided pop
social issues bad - equity etc!
prone to fail

Legal and Economic Factors Facilitating the Functioning of Markets property right
currency stable
legal framework
freedom to operate a business

VI Development Roles of NGOs and the “not for profit” and Cooperative Sector Nonprofit provididng financial and technical assistance

Potential comparative advantages of NGOs
motives innovative flexible special knowledge
trustworthy

Why NGOs Fail
own agenda
lack adequate incentives
fundraising problems
no feedback

Weaknesses of the “Washington Consensus”
equity issues;
implementation problem
over emphasize market underemphasize state

Lead to Santiago Consensus
Market based
Public sector based
Government resposible at national regional, local

VIII Corruption -
Appropriation of public – or private – resources for private profit or use through the use of official power, influence, or access.

theft
personal use of property
bribes
discrimination
nepotism

Consequences of Corruption
unfair
income distribution
impacts on well being

Solution
free media and open democracy

Democracy and Development
Main conclusion?
Development --> Democracy, and
Democracy ---> Development

I Importance of Agriculture and Rural Areas in Development
People gootta eat
rural are poor
large entrepreneur talent
large proportion in agriculture

II Three Systems of Agriculture
agriculture based
transition
urbanized

Latin America and the Caribbean:
too much land too few people
the Latifundia / minifundia complex

Africa:
Small-scale family farming
some small local some massive foreign
subsistence farming
Need for an African new green revolution, there are hopeful signs that it is getting underway

Asia:
lots of systems
fragment and subdivision of peasant land
Too much people too few land

High Income Countries:
Large scale commercial agriculture: family farm and corporate

Agriculture’s Contributions to Development
foodstuffs
surplus labour to modern
surplus of investment to modern

Contemporary View Rural Development Agriculture should be emphasized raise rural income cause poverty in these areas
higher rates of return in rural
valuable for income generation
entrepreneurship

IV Subsistence farming: risk aversion, uncertainty, and survival Risk-averse subsistence farmers often (not irrationally) can prefer technologies that combine low mean-per-hectare with low variance to

Issues in sharecropping: a long debate: Is share-cropping efficient? inefficient - poor incentives
inefficiency in minimums
give them larger share and security of land to increase efficicency

V Revised Strategies: Main Elements
green revolution
dont discriminate rural
anti-poverty investments (irrigation roads)
social institutions (schools)

VI Land reform
the changing of laws, regulations or customs regarding land ownership large sized units to smaller farmers
consolidation of minifundias
rent controls
widely accepted as optimal but difficult to implement

II Why do people move to and choose to live in cities?
agglomerative economies
large local markets
urban amenitites
clustering...
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