South-south cooperation and the least developed countries
Emergent Economics | Political Economy and Development
by Dan
2y ago
Report for the UN: In recent decades international relations have become more multipolar, as seen in the increasing political and economic prominence of countries such as India and China, divergences between large developed countries and regions, and the continued emergence of the Global South. This is a trend long underway, but with renewed impetus via the spontaneous economic evolution of prominent countries in the South, Asia’s rapid recovery from the pandemic, and via intentional acts of solidarity among Southern countries. The ‘rise of the South’ is a process of reorientation of the worl ..read more
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International support for the least developed countries: moving out of the mainstream
Emergent Economics | Political Economy and Development
by Dan
2y ago
New short article on the Developing Economics site. Next January the next United Nations Programme of Action for least developed countries (LDCs) will launch in Doha. It will set the framework for the next 10 years of international support for the world’s 46 officially poorest and most structurally disadvantaged countries, home to around a billion people.   LDCs are low-income countries confronting severe structural impediments to sustainable development. Membership of the category is based on three criteria: income per capi ..read more
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Services growth in the least developed countries
Emergent Economics | Political Economy and Development
by Dan
2y ago
In Maseru, the capital of Lesotho, a roadside stall sells drinks, fruit and mobile phone top-up cards. Half a dozen pairs of trousers hang from a peg above a row of shoes. Passers-by pause briefly to buy what they need.  Enterprises like these small kiosks are at the core of the economy, the silent nucleus around which life revolves. Ranging from shoe-shine to taxis, supermarkets to food-sellers, Lesotho’s tertiary sector has grown to 55% of gross domestic product, according to UN data, employing 42% of the workforce. The story is typical. In the least developed countries (LDCs), formal a ..read more
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The need directly to target sustainable productive capacity in least developed countries
Emergent Economics | Political Economy and Development
by Dan
2y ago
Covid-19 uncovered an uncomfortable truth. International support for least developed countries (LDCs), though welcome and contributing to some success, hasn’t done as was hoped to build economies over the long run or to mitigate crises. The pandemic hit trade, tourism, debt, remittances and foreign direct investment in LDCs at least as badly as other countries. Gross domestic product for the group shrank an expected 1.3 per cent in 2020, according to the UN’s comprehensive study on the impact of Covid-19 on the LDC category. Of 46 LDCs for which data are available, the economies of 37 contract ..read more
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Productive capacity as resilience
Emergent Economics | Political Economy and Development
by Dan
3y ago
Published on the UN least developed countries Portal. Least developed countries (LDCs) were hit harder than most by a succession of crises in recent years – from the Asian crisis to the dotcom collapse, SARS and bird ‘flu, then the global economic crisis, several climate-related disasters and finally Covid-19. For the nearly 400 million extremely poor people in LDCs, the health, financial and social impact of these shocks were catastrophic. On the breadline, any loss of income is disastrous. LDC governments have fewer resources to cushion the impact. Policymakers are increasingly asking how t ..read more
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LDCs and the EU Carbon Border Adjustment Mechanism
Emergent Economics | Political Economy and Development
by Dan
3y ago
As part of the European Green Deal the European Union (EU) is establishing a carbon border adjustment mechanism (CBAM), which will put a carbon price on imports of certain goods from outside the EU. The mechanism is designed to disincentivise European companies from producing their products elsewhere – known as carbon ‘leakage’ – and to prevent European producers from being undercut by cheaper, high-carbon imports.  Least developed countries (LDCs) should be exempt from the CBAM and benefit from revenues generated by the mechanism. This article, for the United Nations LDC Portal on Inter ..read more
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Shaky progress: structural transformation in graduating Pacific least developed countries
Emergent Economics | Political Economy and Development
by Dan
3y ago
The island of Pele, Vanuatu I’ve just published a new UN working paper on the Pacific’s least developed countries (LDCs). The paper finds that whilst these economies have been growing reasonably quickly, bringing them to the point where they’re eligible to leave the LDC category, their structures aren’t changing fast enough or in the right ways to spark widespread transformation. The countries in question — Kiribati, Solomon Islands, Tuvalu and Vanuatu* — aren’t industrialising. This might not sound surprising, but the paper shows so clearly, with international data stretching back two decades ..read more
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The need to extend the WTO TRIPS pharmaceuticals transition period for least developed countries in the Covid-19 era: Evidence from Bangladesh
Emergent Economics | Political Economy and Development
by Dan
3y ago
New UN policy brief (pdf) with Prof. Kevin Gallagher of Boston University. Abstract Bangladesh is one of the most successful least developed countries (LDCs). The country has made such strides that in 2021 the United Nations Committee for Development Policy will consider whether it should graduate out of the LDC category altogether. Like few others, Bangladesh took advantage of WTO flexibilities to build a vibrant pharmaceuticals industry that provides needed industrialization and employment. The pharmaceuticals industry also gives access to essential medicines to millions of Bangladeshis as ..read more
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Building the world back realistically
Emergent Economics | Political Economy and Development
by Dan
3y ago
My last post on the need to build the world back better said that most discussion of the post-covid recovery is mistakenly confined to national borders and should have a global dimension. It’s a view that could be read as idealistic and naive. The world is retreating from physical globalisation. Building the world back better is probably far from most people’s minds. The G20 can’t even coordinate itself as it did during the last crisis. The world’s multilateral institutions are under attack: the World Trade Organisation and the World Health Organisation, and more broadly the United Nations. E ..read more
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Build the world back better
Emergent Economics | Political Economy and Development
by Dan
3y ago
Bike lanes are all very well, but it’s global change that really counts. At a time when politicians and commentators are talking about the need to rebuild more sensibly after Covid-19, it’s more important than ever to think globally. Most recent health, economic and environmental crises were international, and so must be the remedies. This view isn’t misty-eyed one-worldism; it’s self-preservation. Pandemics like Covid-19 are inherently global. The first death was reported on January 11. Ten days later the virus was being treated in half a dozen countries. The pathogen’s spread has now made it ..read more
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