'Aid and the symbiosis of global redistribution and development: Comparative historical lessons from two icons of development studies'
On 7 March 2018, Dr Andrew Fischer will give a lecture on 'Aid and the symbiosis of global redistribution and development: Comparative historical lessons from two icons of development studies'.
Drawing from classical insights in early development economics, Dr Fischer presents a macro analytical framework that locates aid effectiveness in the interaction of both aid absorption (via current accounts deficits) and late industrialization strategies that, when unconstrained, exhibit structural tendencies to generate merchandise trade deficits.
The interaction establishes an important, yet mostly overlooked, symbiosis between global redistribution and development. This symbiosis is then demonstrated by historical analyses of the external accounts of South Korea and Brazil. The case of South Korea clearly illustrates the crucial role that aid and preferential finance played in buttressing rapid late industrialisation against external constraints, in particular by allowing the country to run very large trade deficits right into the 1980s. The case of Brazil clearly demonstrates the constraints faced by late industrialising countries in the absence of ample supplies of aid and preferential finance. The conclusion reflects on some of the wider implications of these insights and also reflects on some contemporary examples from China, Zambia and Philippines.
The lecture will take place at the College of Economics and Management at the University of the Philippines Los Baños.
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