...part in the country’s economy, the agriculture sector accounts a significant portion of the total employment, which ranged from 45-50% during the 1980s. On the other hand, this sector also attributed significant portions of the total poor in the country for decades. Thus, in June 1988, the Comprehensive Agrarian Reform Program (CARP) was signed into law, paving the way for extensive land distribution and reforms which communist insurgencies urged during the Marcos regime. Consequently, the initial stages of the implementation process of CARP was met with apparent complications, expectedly so given that such a policy entailed a wide scope, whilst rural landlords provided staunch opposition in seizing their ownership to government. However, as the years passed and administrations would change, the promises of sweeping agrarian reform have remained unfinished, otherwise, significantly watered down. Such arbitration would be considered a detrimental factor to the current pitfalls that have hindered the development of Philippine political economy. In that, this paper questions what led to this failure of comprehensive agrarian reform and in pronouncing these mistakes, did other countries experience who also employed land reforms if they experienced similar dilemmas. We argue that deeply seated class structures have inevitably played a role in this development policy outcome, particularly elite groups and landlords who have established themselves in the political arena. The...
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...Berend (2000) – From Plan to Market, From Regime Change to Sustained Growth in Central and Eastern Europe * After the state socalism collapsed in Central and Eastern Europe in the early 1990s, the Washington consensus of 1989 (a broadly accepted set of criteria for a reform program) was adopted as a blueprint for the process of transformation. * Central elements: * Macro-economic stabilization (for countries with significant inflation and indebtedness) * New institutions * Legislation * Price and trade liberalisation * Radical privatization * Most of the “transformatology“ literature is based on the assumption that the elimination of deformed non-market economies, a restoration of market, and private ownership, paired with a laissez-faire free market system would automatically solve all major economic/social problems of the transforming countries. * The economic crisis within the Central and Eastern Europe area started much earlier – in the mid-late 1970s when growth slowed significantly and the terms of trade for the state socialist countries began to deteriorate (1973 first oil shock 20% decline, for some even 26-32%) Schumpeter’s theory of “structural crisis”: advancements in technology lead to decline of the old leading sectors and export branches based on old technology, generating wide-ranging slow-down and decline and causing an economic crisis even in rich, advanced countries. However, although rising new technology...
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...tried to liberalise the economy. Out of all those attempts, two are considered to be the major, one of which took place in 1980s during the post emergency rule of Indira Gandhi (1980-1984), Rajeev Gandhi’s regime (1984-1989) and the other one started in 1991 during the congress government in the centre. Although the government has the more favourable condition during the earlier attempts (especially in Rajiv Gandhi regime, he came to the power with a clear cut majority, he had the sympathy from the large population of India after the assassination of his mother) but the extent to which the policies of liberalization was pursued after 1991 was incomparable to that of previous regimes. Even the World Bank in 1996 remarked that “the India has changed its developmental strategy fundamentally. Government initiatives since 1991 to restructure the basis of Indian economy have ended the four decades of planning and have initiated a quiet economic revolution”. Since the liberalization is a continuous process, the policy landscape continues to grow. New approaches on the policy on trade, foreign exchange, banking, industry, foreign investment and many others are the part of the evolving policies. Even the change of the government in power e.g. in 1996, 1998 and most...
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...Transition The First Ten Years Analysis and Lessons for Eastern Europe and the Former Soviet Union Transition The First Ten Years Analysis and Lessons for Eastern Europe and the Former Soviet Union THE WORLD BANK Washington, D.C. © 2002 The International Bank for Reconstruction and Development/The World Bank 1818 H Street, NW Washington, DC 20433 All rights reserved. 1 2 3 4 5 05 04 03 02 The findings, interpretations, and conclusions expressed here are those of the author(s) and do not necessarily reflect the views of the Board of Executive Directors of the World Bank or the governments they represent. The World Bank cannot guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply on the part of the World Bank any judgment of the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this work is copyrighted. No part of this work may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or inclusion in any information storage and retrieval system, without the prior written permission of the World Bank. The World Bank encourages dissemination of its work and will normally grant permission promptly. For permission to photocopy or reprint, please send a request with complete information to the Copyright Clearance Center, Inc, 222 Rosewood...
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...China’s industry are commonly used; electronic devices, toys, textile, products are some of them. Until very near future China was not well known by people; although it had an important position in the global economy. For hundreds of years the general policy of China had aimed protecting its culture, so it tried to avoid improving relationships with foreign countries. For centuries China have had pure culture. But after the communist regime in China, there occurred lots of policy change especially in economy. Till 1949, China was trying to feed only its own nation, the productivity is sufficient for itself; afterwards China speed up its productivity. That is surprising for the rest of the world. In lots of sectors China’s products start to be sold; so everyone think about an important question: “How did China develop so rapidly?” The answer is not single because development requires a continuous and successive process. Through this process China have passed some stages successfully, one of these stages is political reforms and as a result economic reforms. In order to better understand the success of Chinese economy today first the process of political development that China has passed through should be analysed. *Teng-hui (1995) reports the political reforms of China from 1930’s till 1990’s.For two thousand years China was administrated by an emperor. It did not have a democratic regime. Between 1937 and 1945 there had been a war against Japan and after that the...
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...Natalia Navarro Comparative Political Economy Analytical Paper #2 November 5, 2015 Question #3 Venezuela vs. Poland In order to understand the reforms that occurred in Venezuela after the 1980’s both politically and economically it is important to study the origin of Bolivarianism. The term Bolivarianism originates after Simón Bolivar, a military and political leader born in Venezuela. Bolivar helped establish many sovereign states from the Spanish rule including Venezuela, Colombia, Bolivia and Peru. Venezuela has a petroleum based economy that allowed the construction of a democratic political regime that was based on a zero-sum framework around the 1960’s. Once the resources started diminishing around the 1980’s through 1990’s the political...
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...Rotman commerce Political Risk Assessment of Foreign Investment in Mexico Siyu Li 997707209 RSM491 Mexico is a democratic country in Central America that has a reputation for being a poor and dependent country. However, its democratic title and recent political movement has inched it toward stability politically. The country is comprised primarily of two parties with several smaller ones, much like the US and other countries, including the National Action Party (NAP), a conservative group, and more moderate Institutional Revolution Party (PRI). These two powers have experienced much deadlock and turmoil in the past few presidential elections to the dismay of Mexicans, who appear to simply be interested in the progress of the country and not necessarily just one political group. This paper’s intention is to outline the political ecology of Mexican government and offer a look into the risks and rewards possible from an economic standpoint as the result. Political movement of late has primarily involved the election of President Enrique Pena Nieto, a very young and idealistic leader who has nevertheless brought the country together politically by working both sides of the aisle and offering a moderate rather than liberal viewpoint. John-Paul Rathbone writes that “What made this display of Latin cordiality so notable, though, was that it took place on the second day of President Enrique...
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...In this essay I hope to go through the strengths and weaknesses of the Neoliberal approach to development using examples of countries in which they have implemented Neoliberal influenced reforms in order to develop their country. I will then attempt to evaluate my findings to see whether or not the Neoliberal approach is successful or not or is it something which has its weaknesses and strengths and cannot be judged either way. The term Neoliberalism can be defined as a ‘modernised or revised form of liberalism, one based on belief in free market capitalism and the rights of the individual. This is a definition given by the Oxford English Dictionary 1989. In the 1970s Neoliberalism enjoyed increasing popularity and an aspect of the theory we should look at its influence on the Washington Consensus which was an extensive list of economic policies written by John Williamson in 1989. This was a package of standards created to aid countries in economic crisis. Neoliberalism reduces the influence of state and trade unions on markets and reduces the public sector workforce. It also increases in the privatisation of formerly public owned institutions, decreases state interference and opens up markets of an economy to foreign companies. A country which takes on Neoliberal approaches to its economy, in theory should favour strong individual private property rights, rule of law and the institution of freely functioning markets and free trade (Harvey, 2005). There is a criticism to...
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...Journal of Economic Literature 2011, 49:4, 1076–1151 http:www.aeaweb.org/articles.php?doi=10.1257/jel.49.4.1076 The Fundamental Institutions of China’s Reforms and Development Chenggang Xu* China’s economic reforms have resulted in spectacular growth and poverty reduction. However, China’s institutions look ill-suited to achieve such a result, and they indeed suffer from serious shortcomings. To solve the “China puzzle,” this paper analyzes China’s institution—a regionally decentralized authoritarian system. The central government has control over personnel, whereas subnational governments run the bulk of the economy; and they initiate, negotiate, implement, divert, and resist reforms, policies, rules, and laws. China’s reform trajectories have been shaped by regional decentralization. Spectacular performance on the one hand and grave problems on the other hand are all determined by this governance structure. ( JEL O17, O18, O43, P21, P25, P26) 1. Introduction hinese economic reforms, which have been in flux for three decades, have more than doubled China’s economic growth, from an average of 4.4 percent annually before 1978 to an average of 9.5 percent after 1978. * University of Hong Kong and WCU–SNU. The first draft of this paper was written at Hong Kong University of Science and Technology (HKUST) when I was visiting there. The hospitality and generous support of HKUST are greatly appreciated. Comments from participants in conferences and seminars at the China...
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...facing significant economic hardships. This has forced the international community for economic intervention - serious interventions - to protect their interests in the form of economic reforms. Economic Reform and Structural Adjustment Programs had its failures, reflecting the failures of the post- Washington Consensus neo-liberal interventions in developing countries (Mitchelle, 1999). These failures have to reflect on choices of MENA countries as they are facing a cross-road. Forms of intervention varied in many ways after WWI, when political imperialism was done with its role in fostering mercantilist and conventional capitalism gains (Dillard, 1988). But these powers had to be maintained, so the economic intervention was more appealing than political, during the second half of the twentieth century. This paper argues that developing countries were victims of political and economic powers struggle for dominance during the cold war, and when the west capitalist prevailed after the collapse of communism in late 1980s, the ERSAPs were the most appropriate form of intervention to eradicate any socialist traces form already weakly performing developing countries. We may also argue that the success stories of these programs were very limited, because it didn’t include serious governance reform...
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...emerged as a role model for comparison. The two central European countries of the Czech Republic and Slovakia present an interesting case study on the optimum currency area and on political unification. Despite economic, social and demographical convergence as well as an overwhelming majority opinion in favor of unification, the two countries split less than five years of having political autonomy. Following their split, Slovakia and the Czech Republic took different approaches towards approaching a market-economy, yielding somewhat surprising results. This paper will analyze the viability of Czechoslovakia as an optimum currency area, recount its history in the context of economic and political differences, and then illustrate how differences in political philosophy affected their economies today. Unlike most other research this paper aims to prove that, while political differences may have been the deciding factor in dissolution, it was really economic differences between the two, originating from geographic differences and early history, that necessitated the divorce. Economic Analysis and the Optimum Currency Area When analyzing the dissolution of Czechoslovakia, and particular when searching for truth as to its cause, it’s important to note that it was in fact a two part split – first the political union and then the monetary union. The second divorce would typically imply that the split was in fact economically motivated, not politically. In order to test this fact, this...
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...The purpose of this review is to not only point out if certain nations enter or do not enter regional and/or national trade agreements, but why those nations choose to do so. Additionally, it points out the reasoning for each of those reasons to join or not join. And, what are the effects, benefits, and gains for entering into those trade agreements. It then takes a closer look into the transition period from an authoritarian regime into a democracy and the impact of trade liberalization on the states economy. The number of trade agreements has increased substantially in the postwar period and they are responsible for helping develop the postwar trading system. Trade agreements include a range of factors from for freer factor movements, financial transfers, industrialization objectives (production-sharing agreements), and payment arrangements. Whalley (1998) A key note about a trade agreement is that often the smaller trade agreements between different states often goes unnoticed in the larger international arena. Here are a few examples of some trade agreements made since 1990. In 1991, European Free Trade Association signs trade cooperation agreement with Bulgaria Romania and 3 Baltic states, and Poland signs association accords with the European Community. In 1992, Poland enters regional trade agreement with Hungary, Slovakia, and Czech Republic in an attempt to eliminate tariffs over the next 17 years and become compatible with the European Community and European Free Trade...
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...death of Mao Zedong in 1976, it became apparent to many of China's leaders that Economic reform was necessary. By 1978 " Chinese leaders were searching for a solution to serious economic problems produced by Hua Guofeng, the man who had succeeded Mao Zedong as CCP leader after Mao's death" (Shirk 35). As Susan L. Shirk describes the situation in The Political Logic of Economic Reform in China, restoring the CCP's prestige required improving economic performance and raising living standards. After the communist take over the country, Mao contained his emphasis on moral force by demanding that Chinese citizens demonstrate what he referred as "correct consciousness". It is noteworthy that shirk feels that the Chinese communist party leaders saw economic reform as a way to regain their and their party moral virtue even after Mao's death thus, paradoxically, by demonstrating their expertise in a moral political area of competence, the leaders of CCP felt they could demonstrate how they were serving the people. To a great extent, the issue of economic reform became politicized as the issue was used as a means by Deng Xiaoping to attain the leadership of the Chinese Communist Party. "Reform policies became Deng's platform against Hua for post-Mao leadership" (Shirk 36). Given this history of economic reform, it is evident that "under the present system economic questions are necessarily political questions" (Dorn 43). China was "still a state in which the central government retain[ed]...
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...On Bread and Circuses: Food Subsidy Reform and Popular Opposition in Egypt Ram Sachs Advisor: Professor Lisa Blaydes Center for International Security and Cooperation Stanford University May 21, 2012 ii Abstract In January 1977, Egyptian President Anwar al-Sadat faced tremendous public protest after implementing relatively small changes to the country’s food subsidy regime. In contrast, during the 1980s, and more aggressively in the 1990s, the government of Hosni Mubarak implemented more consequential reductions to subsidies on core food items while avoiding popular protest on a similar scale. I argue that the Mubarak regime engaged in covert price increases, distribution controls, temporary policy reversals, and repression, which allowed it to successfully reduce food subsidies without igniting regime-threatening public opposition during this period. Following the January 2011 revolution, further reform efforts are unlikely as the transitional democratic politics and the increased number of political participants will block change in the short term. iii iv Acknowledgements This thesis has served to unite my academic experience at Stanford. Four years of preparation, and the past year of writing, have produced this exploration of food, politics, and the Middle East. The CISAC Honors Program has provided a fantastic interdisciplinary home for this pursuit. I am thankful to Professors Blacker and Crenshaw for their guidance in this yearlong process. I...
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...Economic Reforms in China and Vietnam: Two Differing (And Yet Similar) Paths China and Vietnam are currently two of the largest economies in Southeast Asia. Being neighbors, they share a lengthy history which includes periods of both cooperation and conflict. Their recent histories resemble each other in many ways – both China and Vietnam were colonized (though to different extents) in the period leading up to World War 2. During World War 2, both countries were occupied (though again to different extents) by the Japanese. In the wake of the war, communist insurgencies in both countries were ultimately successful in displacing non-communist regimes which received significant foreign assistance. Given the commonalities of their recent history, it would stand to reason that both countries would have similar experiences during both their Communist and reform periods. However, this has not always been the case. In this paper, I will argue that even though both China and Vietnam have made significant advances in liberalizing their economies, what they have accomplished is often blown out of proportion. In particular, the economies of both countries are still heavily controlled by their respective governments. Though they differ in some ways – for instance, Vietnam has done a better job of liberalizing its banking system than has China, and China’s economic growth has been marked by a steep increase in inequality which has not been seen in Vietnam, they are both fundamentally similar...
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