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Library | Item Barcode | Call Number | Material Type | Item Category 1 | Status |
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Searching... | 30000010282921 | HF1359 R63 2007 | Open Access Book | Book | Searching... |
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Summary
Summary
In One Economics, Many Recipes , leading economist Dani Rodrik argues that neither globalizers nor antiglobalizers have got it right. While economic globalization can be a boon for countries that are trying to dig out of poverty, success usually requires following policies that are tailored to local economic and political realities rather than obeying the dictates of the international globalization establishment. A definitive statement of Rodrik's original and influential perspective on economic growth and globalization, One Economics, Many Recipes shows how successful countries craft their own unique strategies--and what other countries can learn from them.
To most proglobalizers, globalization is a source of economic salvation for developing nations, and to fully benefit from it nations must follow a universal set of rules designed by organizations such as the World Bank, the International Monetary Fund, and the World Trade Organization and enforced by international investors and capital markets. But to most antiglobalizers, such global rules spell nothing but trouble, and the more poor nations shield themselves from them, the better off they are. Rodrik rejects the simplifications of both sides, showing that poor countries get rich not by copying what Washington technocrats preach or what others have done, but by overcoming their own highly specific constraints. And, far from conflicting with economic science, this is exactly what good economics teaches.
Author Notes
Dani Rodrik is professor of international political economy at the John F. Kennedy School of Government at Harvard University. He was the recipient of the inaugural Albert O. Hirschman Prize from the Social Sciences Research Council, and is the author of Making Openness Work: The New Global Economy and the Developing Countries and Has Globalization Gone Too Far?
Reviews 1
Choice Review
This book collects nine papers by Rodrik (international political economy, Kennedy School of Government, Harvard) on the themes of economic growth, institutional design, and global economic governance. Rodrik is known for rigorous analysis that challenges the conventional wisdom, and this book does not disappoint. Economic growth is a very important goal, Rodrik argues, but the evidence indicates that there is no single recipe for growth. A variety of growth strategies can prove successful depending on the particular political and economic context. Markets are important to growth, but so are market-supporting institutions. Getting institutions right is critical, but context is key--institutions must be informed by local knowledge and structured on a case-by-case basis to deal with specific binding constraints. The author also contends that institutional diversity is necessary for successful global growth, and that free trade should be seen as a tool to achieve growth but is not an end in itself. Rodrik argues for a reinvented World Trade Organization that is less focused on trade liberalization and gives priority instead to mediating trade tensions among countries with diverse institutional structures pursuing a variety of strategies to achieve sustainable economic growth. Summing Up: Highly recommended. Upper-division undergraduate through professional collections. M. Veseth University of Puget Sound
