On the Journals: Capital Flows and Measurements of Economic Development

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Although the academic year has just begun, quite a few interesting academic articles on economic development have already been published. Among them are several articles that examine the nature of capital flows to developing countries as well as articles addressing problems associated with measuring various aspects of economic development.

Here are some recent articles on the nature of capital flows:

  • Banking unconditionally: the political economy of Chinese finance in Latin America by Stephan Kaplan in the September issue of Review of International Political Economy. Kaplan discusses the effects of increased Chinese capital in two of China’s largest debtors, namely Brazil and Venezuela. He finds that Chinese capital is associated with an increase in budget deficits, but also an increase in long-term capital, giving national governments more national policy autonomy.
  • IMF conditionality and development policy space, 1985–2014 by Alexander Kentikelenis, Thomas Stubbs and Lawrence King in the September issue of Review of International Political Economy. Dismal reading for anyone hoping that IMF policies have evolved to provide increased policy space for its borrowers. The authors find little evidence of fundamental transformation of IMF conditionality since 1985 and they find that policies introduced to ameliorate the social consequences of IMF macroeconomic advice have not been adequately incorporated into program design.
  • Governing Capital Flows by Sunanda Sen in the September issue of Economic and Political Weekly. This is a book review of Ruling Capital: Emerging Markets and the Reregulation of Cross-Border Finance by Kevin P Gallagher (2015).

Here are some recent articles on the measurement of economic development:

In addition, Jacob Assa published the book The Financialization of GDP: Implications for economic theory and policy earlier this month (watch this blog for a post by Assa himself on the implications of his findings for economic development) and this summer the Journal of Globalization and Development published a special issue on Global Inequality, in which several articles address measurement issues.

 

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