Globalization and Development : A Latin American and Caribbean Perspective

by Ocampo, Jose Antonio; Martin, Juan

• ISBN13: 9780821355015
• ISBN10: 0821355015
• Format: Paperback
• Copyright: 2003-10-01
• Publisher: World Bank

Summary

Customers in the US and Canada please order from Stanford University Press at [phone] or visit their website at www.sup.org. In this book, ECLAC (Economic Commission for Latin America and the Caribbean) draws upon the Latin American and Caribbean regionA's experience in order to formulate a historical and multidimensional assessment of the globalization process from the perspectives of developing countries. In view of the glaring contrast between increasingly global problems and the incomplete, asymmetrical nature of the international agenda for dealing with them, developing countries need to adopt a proactive agenda that will enable them to seize the opportunities and avert the risks of globalization. Globalization and Development offers up a series of principles and an agenda for achieving just that aim. A"This book provides a profound analysis of key problems facing the global economic order. Equally important, the agenda put forward provides perceptive food for thought for all who are committed to overcoming the fundamental asymmetries that pervade the world economy today. It recognizes that success in creating a better global order must go beyond the topics that have been at the center of discussion in the past: There must be an adequate supply of global public goods, and we need to incorporate at the global level values that we often taken for granted at the national level--a commitment to global democracy, global citizenship, and global social justice.A? Joseph Stiglitz, Professor, Columbia University, and Winner of the 2001 Nobel Prize in Economics

Table of Contents

Preface	xiii
Globalization: A Historical, Multidimensional Perspective	1	(16)
Economic Globalization	2	(5)
Noneconomic Dimensions of Globalization	7	(5)
Ethical and Cultural Dimensions	7	(4)
Political Dimension	11	(1)
Opportunities and Risks	12	(5)
International Trade and the New Global Production Structure	17	(46)
International Trade	17	(27)
International Trade and Economic Growth: A Variable Historical Relationship	17	(6)
Development of the Institutional Framework for International Trade	23	(5)
Recent Patterns of World Trade	28	(9)
Two Challenges Posed by the Relationship between Trade and Economic Growth	37	(7)
The New Global Production Structure	44	(19)
Microeconomic Foundations	44	(3)
New Forms of Production and Market Organization	47	(2)
Implications for Business Decisions and Strategies	49	(5)
Patterns of FDI and TNC Strategies at the Global Level	54	(9)
The International Mobility of Capital and Labor	63	(36)
International Finance and Macroeconomic Regimes	63	(25)
History of the International Financial System	64	(6)
Recent Changes and Volatility in Financial Markets	70	(6)
Capital Flows to Developing Countries	76	(12)
International Migration	88	(11)
Inequalities and Asymmetries in the Global Order	99	(30)
Inequalities in Global Income Distribution	99	(12)
Long-Term Disparities between Regions and Countries	100	(5)
Overall Effect of International and National Inequality	105	(6)
Basic Asymmetries in the Global Order	111	(18)
Extreme Concentration of Technical Progress in Industrial Countries	113	(2)
Developing Countries' Greater Macroeconomic Vulnerability	115	(4)
High Capital Mobility and Low Labor Mobility	119	(2)
The Rise and Fall of International Cooperation for Development	121	(8)
An Agenda for the Global Era	129	(50)
Fundamental Principles for Building a Better Global Order	130	(8)
Three Key Objectives	130	(2)
Global Rules and Institutions that Respect Diversity	132	(1)
Complementarity of Global, Regional, and National Institution Building	133	(3)
Equitable Participation and Appropriate Rules of Governance	136	(2)
National Strategies for Dealing with Globalization	138	(13)
The Role and Basic Components of National Strategies	138	(1)
Macroeconomic Strategy	139	(3)
Building Systemic Competitiveness	142	(3)
Environmental Sustainability	145	(3)
Social Strategies in an Era of Globalization	148	(3)
The Key Role of Action at the Regional Level	151	(5)
The Global Agenda	156	(23)
The Provision of Global Public Goods in the Macroeconomic Sphere	156	(2)
Sustainable Development as a Global Public Good	158	(5)
The Correction of Financial and Macroeconomic Asymmetries	163	(3)
Overcoming Production and Technological Asymmetries	166	(6)
The Full Inclusion of Migration on the International Agenda	172	(3)
Economic, Social, and Cultural Rights: The Foundations for Global Citizenship	175	(4)
References	179	(22)
Index	201