Globalization and the Challenge for Developing Countries
Rsearch on the sources of growth shows several factors to be relevant to all countries, rich or poor. Whether developing countries can substantially raise per capita incomes depends on policies that address these variables: labor, human capital, ca...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2001/06/1346426/globalization-challenge-developing-countries http://hdl.handle.net/10986/19631 |
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okr-10986-19631 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTABILITY ADVERTISING AGING AGRICULTURAL COMMODITIES AGRICULTURAL PRODUCTS AGRICULTURE ALLOCATIVE EFFICIENCY APPREHENSION AUDITING AUTONOMY BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BONDS BRAIN DRAIN CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL GOODS COMPARATIVE ADVANTAGE COMPETITIVE MARKETS COMPETITIVENESS CONSUMERS CONTRACT ENFORCEMENT CURRENCY DEMOGRAPHICS DEVELOPED COUNTRIES DEVELOPMENT ASSISTANCE DOMESTIC MARKET DOMESTIC PRODUCERS ECONOMIC CHANGE ECONOMIC GEOGRAPHY ELASTICITY ELASTICITY OF DEMAND EMERGING MARKETS EMIGRATION EMPLOYMENT EQUITY CAPITAL EXCHANGE RATE EXPORT GROWTH EXPORT MARKET EXPORT MARKETS EXPORTERS EXPORTS EXTERNAL SHOCKS EXTERNALITIES FACTOR PRICE FAMILIES FINANCIAL DEEPENING FINANCIAL MARKETS FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL TRANSACTIONS FOREIGN BANKS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN INVESTMENT FOREIGN INVESTORS FREE TRADE GDP GINI COEFFICIENT GLOBAL INTEGRATION GROWTH RATE HIGH TRADE BARRIERS HUMAN CAPITAL IMMIGRATION IMPORT PENETRATION IMPORTS INCOME INCOME CONVERGENCE INCOME GROUPS INCOME INEQUALITY INCOME LEVELS INDUSTRIAL ECONOMIES INDUSTRIAL POLICIES INDUSTRIAL POLICY INDUSTRIALIZATION INFLATION INSTITUTIONAL CHANGE INTERMEDIARIES INTERNATIONAL MARKETS INTERNATIONAL PRODUCTION LAWS MACROECONOMIC STABILITY MANAGERS MARKET ACCESS MARKET LIBERALIZATION MARKETING MIDDLE INCOME COUNTRIES MIGRANTS MIGRATION MULTILATERAL TRADE MULTILATERAL TRADE LIBERALIZATION OPENNESS PER CAPITA INCOME PER CAPITA INCOMES POPULATION GROWTH PREFERENTIAL ACCESS PRODUCERS PRODUCTIVITY PROTECTIONIST POLICIES QUALITY OF LIFE QUALITY STANDARDS REAL EXCHANGE RATES REAL WAGES RECIPROCAL CONCESSIONS REGULATORY FRAMEWORK RESOURCE ALLOCATION RESOURCE MOBILIZATION SAFETY SAFETY NETS SERVICE INDUSTRIES SETTLEMENT SYSTEMS TARIFF BARRIERS TECHNICAL ASSISTANCE TECHNOLOGICAL PROGRESS TECHNOLOGY ADOPTION TECHNOLOGY TRANSFER TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TRADE BARRIERS TRADE CONCESSIONS TRADE CREATING TRADE FLOWS TRADE LIBERALIZATION TRADE NEGOTIATIONS TRADE POLICY TRADE RESTRICTIONS TRANSACTION COSTS TRANSACTIONS COSTS TRANSNATIONAL CORPORATIONS TRANSPORT UNEMPLOYMENT UNILATERAL REDUCTION UNSKILLED WORKERS URUGUAY ROUND VENTURE CAPITAL |
| spellingShingle |
ACCOUNTABILITY ADVERTISING AGING AGRICULTURAL COMMODITIES AGRICULTURAL PRODUCTS AGRICULTURE ALLOCATIVE EFFICIENCY APPREHENSION AUDITING AUTONOMY BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BONDS BRAIN DRAIN CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL GOODS COMPARATIVE ADVANTAGE COMPETITIVE MARKETS COMPETITIVENESS CONSUMERS CONTRACT ENFORCEMENT CURRENCY DEMOGRAPHICS DEVELOPED COUNTRIES DEVELOPMENT ASSISTANCE DOMESTIC MARKET DOMESTIC PRODUCERS ECONOMIC CHANGE ECONOMIC GEOGRAPHY ELASTICITY ELASTICITY OF DEMAND EMERGING MARKETS EMIGRATION EMPLOYMENT EQUITY CAPITAL EXCHANGE RATE EXPORT GROWTH EXPORT MARKET EXPORT MARKETS EXPORTERS EXPORTS EXTERNAL SHOCKS EXTERNALITIES FACTOR PRICE FAMILIES FINANCIAL DEEPENING FINANCIAL MARKETS FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL TRANSACTIONS FOREIGN BANKS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN INVESTMENT FOREIGN INVESTORS FREE TRADE GDP GINI COEFFICIENT GLOBAL INTEGRATION GROWTH RATE HIGH TRADE BARRIERS HUMAN CAPITAL IMMIGRATION IMPORT PENETRATION IMPORTS INCOME INCOME CONVERGENCE INCOME GROUPS INCOME INEQUALITY INCOME LEVELS INDUSTRIAL ECONOMIES INDUSTRIAL POLICIES INDUSTRIAL POLICY INDUSTRIALIZATION INFLATION INSTITUTIONAL CHANGE INTERMEDIARIES INTERNATIONAL MARKETS INTERNATIONAL PRODUCTION LAWS MACROECONOMIC STABILITY MANAGERS MARKET ACCESS MARKET LIBERALIZATION MARKETING MIDDLE INCOME COUNTRIES MIGRANTS MIGRATION MULTILATERAL TRADE MULTILATERAL TRADE LIBERALIZATION OPENNESS PER CAPITA INCOME PER CAPITA INCOMES POPULATION GROWTH PREFERENTIAL ACCESS PRODUCERS PRODUCTIVITY PROTECTIONIST POLICIES QUALITY OF LIFE QUALITY STANDARDS REAL EXCHANGE RATES REAL WAGES RECIPROCAL CONCESSIONS REGULATORY FRAMEWORK RESOURCE ALLOCATION RESOURCE MOBILIZATION SAFETY SAFETY NETS SERVICE INDUSTRIES SETTLEMENT SYSTEMS TARIFF BARRIERS TECHNICAL ASSISTANCE TECHNOLOGICAL PROGRESS TECHNOLOGY ADOPTION TECHNOLOGY TRANSFER TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TRADE BARRIERS TRADE CONCESSIONS TRADE CREATING TRADE FLOWS TRADE LIBERALIZATION TRADE NEGOTIATIONS TRADE POLICY TRADE RESTRICTIONS TRANSACTION COSTS TRANSACTIONS COSTS TRANSNATIONAL CORPORATIONS TRANSPORT UNEMPLOYMENT UNILATERAL REDUCTION UNSKILLED WORKERS URUGUAY ROUND VENTURE CAPITAL Yusuf, Shahid Globalization and the Challenge for Developing Countries |
| relation |
Policy Research Working Paper;No. 2618 |
| description |
Rsearch on the sources of growth shows
several factors to be relevant to all countries, rich or
poor. Whether developing countries can substantially raise
per capita incomes depends on policies that address these
variables: labor, human capital, capital investment in
research and development, technological progress, and the
increase in total factor productivity arising from scale
economies, the effects of agglomeration, externalities, and
institutions that secure rights and minimize transaction
costs. The author argues that a comprehensive approach to
globalization, managed, and abetted by good policies, can
magnify the effects of growth-promoting measures. Among his
observations: 1) Returns from investment in skills are much
greater in a more technologically advanced and integrated
economy. 2) Trade, by enlarging markets, reinforces those
gains, and the option to migrate further augments the value
of skills. The growing worldwide gap in income between
skilled and unskilled workers suggests how much more
fruitful skills are under globalization. 3) A 50 percent
increase (or even a doubling) in growth rates demands a vast
amount of capital, embodying modern technology and the
knowledge needed to put it to best use. The international
economy can be a source of such capital. 4) Openness,
combined with spatially neutral domestic policies and the
scaling back of regulatory constraints on domestic business
activities, can unleash the full force of agglomeration
economies and networking externalities, allowing industrial
clusters to emerge in metropolitan regions. 5) Openness is
also the best way for low-income countries to tap into
technologies that will galvanize agriculture (low-income
countries' economic center) and manufacturing
activities and nourish indigenous technological advance. 6)
No research convincingly makes the case for delaying
openness or for sequencing the various elements of openness.
A good case can be made for embracing all the key elements
of globalization at the same time--while sequencing (where
needed) the pace of integration in such areas as trade and finance. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Yusuf, Shahid |
| author_facet |
Yusuf, Shahid |
| author_sort |
Yusuf, Shahid |
| title |
Globalization and the Challenge for Developing Countries |
| title_short |
Globalization and the Challenge for Developing Countries |
| title_full |
Globalization and the Challenge for Developing Countries |
| title_fullStr |
Globalization and the Challenge for Developing Countries |
| title_full_unstemmed |
Globalization and the Challenge for Developing Countries |
| title_sort |
globalization and the challenge for developing countries |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2001/06/1346426/globalization-challenge-developing-countries http://hdl.handle.net/10986/19631 |
| _version_ |
1764440161854160896 |
| spelling |
okr-10986-196312021-04-23T14:03:43Z Globalization and the Challenge for Developing Countries Yusuf, Shahid ACCOUNTABILITY ADVERTISING AGING AGRICULTURAL COMMODITIES AGRICULTURAL PRODUCTS AGRICULTURE ALLOCATIVE EFFICIENCY APPREHENSION AUDITING AUTONOMY BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BONDS BRAIN DRAIN CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL GOODS COMPARATIVE ADVANTAGE COMPETITIVE MARKETS COMPETITIVENESS CONSUMERS CONTRACT ENFORCEMENT CURRENCY DEMOGRAPHICS DEVELOPED COUNTRIES DEVELOPMENT ASSISTANCE DOMESTIC MARKET DOMESTIC PRODUCERS ECONOMIC CHANGE ECONOMIC GEOGRAPHY ELASTICITY ELASTICITY OF DEMAND EMERGING MARKETS EMIGRATION EMPLOYMENT EQUITY CAPITAL EXCHANGE RATE EXPORT GROWTH EXPORT MARKET EXPORT MARKETS EXPORTERS EXPORTS EXTERNAL SHOCKS EXTERNALITIES FACTOR PRICE FAMILIES FINANCIAL DEEPENING FINANCIAL MARKETS FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL TRANSACTIONS FOREIGN BANKS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN INVESTMENT FOREIGN INVESTORS FREE TRADE GDP GINI COEFFICIENT GLOBAL INTEGRATION GROWTH RATE HIGH TRADE BARRIERS HUMAN CAPITAL IMMIGRATION IMPORT PENETRATION IMPORTS INCOME INCOME CONVERGENCE INCOME GROUPS INCOME INEQUALITY INCOME LEVELS INDUSTRIAL ECONOMIES INDUSTRIAL POLICIES INDUSTRIAL POLICY INDUSTRIALIZATION INFLATION INSTITUTIONAL CHANGE INTERMEDIARIES INTERNATIONAL MARKETS INTERNATIONAL PRODUCTION LAWS MACROECONOMIC STABILITY MANAGERS MARKET ACCESS MARKET LIBERALIZATION MARKETING MIDDLE INCOME COUNTRIES MIGRANTS MIGRATION MULTILATERAL TRADE MULTILATERAL TRADE LIBERALIZATION OPENNESS PER CAPITA INCOME PER CAPITA INCOMES POPULATION GROWTH PREFERENTIAL ACCESS PRODUCERS PRODUCTIVITY PROTECTIONIST POLICIES QUALITY OF LIFE QUALITY STANDARDS REAL EXCHANGE RATES REAL WAGES RECIPROCAL CONCESSIONS REGULATORY FRAMEWORK RESOURCE ALLOCATION RESOURCE MOBILIZATION SAFETY SAFETY NETS SERVICE INDUSTRIES SETTLEMENT SYSTEMS TARIFF BARRIERS TECHNICAL ASSISTANCE TECHNOLOGICAL PROGRESS TECHNOLOGY ADOPTION TECHNOLOGY TRANSFER TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TRADE BARRIERS TRADE CONCESSIONS TRADE CREATING TRADE FLOWS TRADE LIBERALIZATION TRADE NEGOTIATIONS TRADE POLICY TRADE RESTRICTIONS TRANSACTION COSTS TRANSACTIONS COSTS TRANSNATIONAL CORPORATIONS TRANSPORT UNEMPLOYMENT UNILATERAL REDUCTION UNSKILLED WORKERS URUGUAY ROUND VENTURE CAPITAL Rsearch on the sources of growth shows several factors to be relevant to all countries, rich or poor. Whether developing countries can substantially raise per capita incomes depends on policies that address these variables: labor, human capital, capital investment in research and development, technological progress, and the increase in total factor productivity arising from scale economies, the effects of agglomeration, externalities, and institutions that secure rights and minimize transaction costs. The author argues that a comprehensive approach to globalization, managed, and abetted by good policies, can magnify the effects of growth-promoting measures. Among his observations: 1) Returns from investment in skills are much greater in a more technologically advanced and integrated economy. 2) Trade, by enlarging markets, reinforces those gains, and the option to migrate further augments the value of skills. The growing worldwide gap in income between skilled and unskilled workers suggests how much more fruitful skills are under globalization. 3) A 50 percent increase (or even a doubling) in growth rates demands a vast amount of capital, embodying modern technology and the knowledge needed to put it to best use. The international economy can be a source of such capital. 4) Openness, combined with spatially neutral domestic policies and the scaling back of regulatory constraints on domestic business activities, can unleash the full force of agglomeration economies and networking externalities, allowing industrial clusters to emerge in metropolitan regions. 5) Openness is also the best way for low-income countries to tap into technologies that will galvanize agriculture (low-income countries' economic center) and manufacturing activities and nourish indigenous technological advance. 6) No research convincingly makes the case for delaying openness or for sequencing the various elements of openness. A good case can be made for embracing all the key elements of globalization at the same time--while sequencing (where needed) the pace of integration in such areas as trade and finance. 2014-08-25T17:16:31Z 2014-08-25T17:16:31Z 2001-06 http://documents.worldbank.org/curated/en/2001/06/1346426/globalization-challenge-developing-countries http://hdl.handle.net/10986/19631 English en_US Policy Research Working Paper;No. 2618 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research |