Global Political Economy of Development
Global Political Economy of
Development
Dr. Allyson Benton Department of International Politics
City, University of London
What is Development?
What Explains Development?
How Can Development Be Promoted?
Economic Growth Industrialization Capital Accumulation/Investment (Public and Private, Domestic and
Foreign Investment)
Modernization Modernization of Values, Institutions, Technology
Transfer/Develop Education, Political Institutions,
Economic Skills/Technology
Poverty Eradication Poverty Relief Improved Social Welfare/Poverty
Programs, Rural Development, Reduce Informal Sector
Realize Human Potential Freedom
Good Governance (Democracy, State Capacity)
What is Development?
What Explains Development?
How Can Development Be Promoted?
Economic Model
Economic Growth Industrialization
Capital Accumulation/ Investment
(Public and Private, Domestic and Foreign Investment)
Classical Liberal Economic Policy
Modernization Modernization of
Values, Institutions, Technology
Transfer/Develop Education, Political
Institutions, Economic Skills/ Technology
Poverty Eradication Poverty Relief
Improved Social Welfare/ Poverty Programs, Rural Development, Reduce
Informal Sector
Realize Human Potential Freedom
Good Governance (Democracy, State Capacity)
Free Hand of the Market
States Allow Markets to Determine Supply and Demand
(Capital, Labor, Prices)
States Enforce the Rule of Law (Contract and Property Rights)
to Support the Market
What is Development?
What Explains Development?
How Can Development Be Promoted?
Economic Model
Economic Growth Industrialization
Capital Accumulation/ Investment
(Public and Private, Domestic and Foreign Investment)
Classical Liberal Economic Policy
Modernization Modernization of
Values, Institutions, Technology
Transfer/Develop Education, Political
Institutions, Economic Skills/ Technology
State-Led Economic
Development
Poverty Eradication Poverty Relief
Improved Social Welfare/ Poverty Programs, Rural Development, Reduce
Informal Sector
Realize Human Potential Freedom
Good Governance (Democracy, State Capacity)
Import-Substitution Industrialization
- State Protects Fledgling Industries (Subsidies, Tariffs,
Exchange Rate Controls)
- State Regulates Capital, Consumer, and Labor Markets
to Support Industrialization
What is Development?
What Explains Development?
How Can Development Be Promoted?
Economic Model
Economic Growth Industrialization
Capital Accumulation/ Investment
(Public and Private, Domestic and Foreign Investment)
Classical Liberal Economic Policy
Modernization Modernization of
Values, Institutions, Technology
Transfer/Develop Education, Political
Institutions, Economic Skills/ Technology
State-Led Economic
Development
Poverty Eradication Poverty Relief
Improved Social Welfare/ Poverty Programs, Rural Development, Reduce
Informal Sector
Washington Consensus
Realize Human Potential Freedom
Good Governance (Democracy, State Capacity)
Neo-Liberal Economic Reform
- States’ Role is to Promote Efficient Markets
-States End ISI (Eliminate Subsidies, Trade
Barriers, Exchange Rate Controls)
- States Deregulate Capital, Consumer, Labor Markets
What is Development?
What Explains Development?
How Can Development Be Promoted?
Economic Model
Economic Growth Industrialization
Capital Accumulation/ Investment
(Public and Private, Domestic and Foreign Investment)
Classical Liberal Economic Policy
Modernization Modernization of
Values, Institutions, Technology
Transfer/Develop Education, Political
Institutions, Economic Skills/ Technology
State-Led Economic
Development
Poverty Eradication Poverty Relief
Improved Social Welfare/ Poverty Programs, Rural Development, Reduce
Informal Sector
Washington Consensus
Realize Human Potential Freedom
Good Governance (Democracy, State Capacity)
Post Washington Consensus
Neo-Liberal Economic Policies Amidst Good Governance
Political Institutions (Responsiveness, Rule of Law,
Accountability)
State Capacity (Efficiency, Cleanliness, Oversight)
Appropriate Welfare Policy Choices
(Public Services, Gender Equity, Ethnic Peace, Financial Inclusion)
What We Cover GOOD GOVERNANCE INSTITUTIONS
• Political Institutions that Ensure Representative Policy Choice (Democracy, Political Accountability, Rule of Law)
• Political Institutions that Ensure State Capacity and Efficient Policy Delivery (Bureaucratic Oversight, Decentralization, Rule of Law)
KEY SOCIAL WELFARE POLICIES
• Social Services (Health, Education)
• Social Inclusion (Gender Equity, Ethnic Peace)
• Economic Inclusion (Microfinance, Financial Inclusion) INTERNATIONAL INSTITUTIONS, ORGANIZATIONS, AND REGULATIONS
• That Can Help Design, Implement, or Oversee Good Governance Institutions
• That Can Help Design, Implement, or Oversee Appropriate Social Welfare Policies
Weekly Readings • At least one example of why the institution/policy is
important for promoting development
• At least one example of a measure undertaken to improve the institution/policy (in its design, implementation, or oversight)
• At least one example of how an international institution, organization, regulation, or actor might be involved in the design, implementation, or oversight of the institution/policy
Course Logistics • Each Week
• One Lecture: Overview/History/Evolution of the Topic of Study
• One Tutorial: To Answer Questions, Discuss the Readings, Discuss the Institutional or Policy Reforms
• Four Required Readings (Plus Suggested Readings)
• Attendance at Lecture and Tutorial is mandatory
• Assessment:
• One Take-Home Essay (4000 words) using Content of Lecture and Readings, plus any additional necessary research and readings conducted by the student (turned in on 2 January 2020)
• Will have the choice between nine different topics. However, knowledge of all weeks is necessary to complete the assignment