Dani Rodrik

Combining history with personal insights, a professor of International Political Economy at Harvard University discusses how democracy and national self-determination cannot be simultaneously pursued with economic globalization and instead promotes customizable globalization with international rules to achieve balanced prosperity.

Democracy and the Future of the World Economy

The Globalization Paradox

A leading economist trains a lens on his own discipline to uncover when it fails and when it works.

The Rights and Wrongs of the Dismal Science

Economics Rules

An honest discussion of free trade and how nations can sensibly chart a path forward in today’s global economy Not so long ago the nation-state seemed to be on its deathbed, condemned to irrelevance by the forces of globalization and technology. Now it is back with a vengeance, propelled by a groundswell of populists around the world. In Straight Talk on Trade, Dani Rodrik, an early and outspoken critic of economic globalization taken too far, goes beyond the populist backlash and offers a more reasoned explanation for why our elites’ and technocrats’ obsession with hyper-globalization made it more difficult for nations to achieve legitimate economic and social objectives at home. Ranging over the recent experiences of advanced countries, the eurozone, and developing nations, Straight Talk on Trade charts a way forward with new ideas about how to reconcile today’s inequitable trends with liberal democracy and social inclusion.

Ideas for a Sane World Economy

Straight Talk on Trade

Globalization, Institutions, and Economic Growth

One Economics, Many Recipes

Daha Adil, Daha Makul

Discusses how democracy and national self-determination cannot be pursued simultaneously with economic globalization and instead promotes customizable globalization with international rules to achieve balanced prosperity.

The Globalization Paradox: Democracy and the Future of the World Economy

For a century, economists have driven forward the cause of globalization in financial institutions, labour markets, and trade. Yet there have been consistent warning signs that a global economy and free trade might not always be advantageous. Where are the pressure points? What could be done about them?Dani Rodrik examines the back-story from its seventeenth-century origins through the milestones of the gold standard, the Bretton Woods Agreement, and the Washington Consensus, to the present day. Although economic globalization has enabled unprecedented levels of prosperity in advanced countries and has been a boon to hundreds of millions of poor workers in China and elsewhere in Asia, it is a concept that rests on shaky pillars, he contends. Its long-term sustainability is not a given.The heart of Rodrik>'s argument is a fundamental 'trilemma': that we cannot simultaneously pursue democracy, national self-determination, and economic globalization. Give too much power to governments, and you have protectionism. Give markets too much freedom, and you have an unstable world economy with little social and political support from those it is supposed to help. Rodrik argues for smart globalization, not maximum globalization.

Why Global Markets, States, and Democracy Can't Coexist

İktisadı Anlamak

Olivier Blanchard

Leading economists and policymakers consider what economic tools are most effective in reversing the rise in inequality. Economic inequality is the defining issue of our time. In the United States, the wealth share of the top 1% has risen from 25% in the late 1970s to around 40% today. The percentage of children earning more than their parents has fallen from 90% in the 1940s to around 50% today. In Combating Inequality, leading economists, many of them current or former policymakers, bring good news: we have the tools to reverse the rise in inequality. In their discussions, they consider which of these tools are the most effective at doing so.

Rethinking Government's Role

Combating Inequality

En esta crítica incisiva, Dani Rodrik combina el relato histórico con astutas observaciones que cuestionan la creencia de que el avance de la globalización es inevitable e inevitablemente positivo y argumenta que la globalización va acompañada necesariamente de tensiones muy graves. La paradoja de la globalización plantea un tema que ha adquirido, a raíz de la crisis del Euro, una candente actualidad. Se trata del conflicto entre decisiones democráticas a escala de cada nación y decisiones tecnocráticas a escala supranacional. En el libro, el autor presenta un argumento a favor de un modelo de globalización atemperado, que sea respetuoso con las democracias nacionales y que esté fundamentado en un entramado muy elemental de reglas internacionales. Ahora que nos enfrentamos a unos desafíos globales tanto en el comercio, como en las finanzas como en los mercados laborales, la bien fundamentada propuesta de Rodrik muestra el camino hacia una prosperidad equilibrada y sostenible.

La paradoja de la globalización

Rafiq Hariri Professor of International Political Economy Dani Rodrik

This text examines the benefits and risks of international economic integration, and criticizes mainstream economists for not emphasizing its dangers. It argues that the ""winners"" have as much at stake from the possible consequences of social instability exposed by globalization, as the ""losers"".

Has Globalization Gone Too Far?

Susan M. Collins

Currency crises are extremely perplexing problems, initially erupting in a country's financial markets and spreading throughout a country's economy and beyond—often with devastating consequences for real economic activity. Experts on the two most recent crises—in Argentina and Turkey—together with others who have studied currency crises more broadly, examine why such crises continue to erupt and how to mitigate their impact, possibly preventing additional crises in the future. Argentina's Avoidable Crisis: Bad Luck, Bad Economics, Bad Politics, Bad Advice Andrew Powell, Universidad Torcuato di Tella Hard Money's Soft Underbelly: Understanding the Argentine Crisis Ricardo Hausmann, Harvard University Andrés Velasco, Harvard University Banking Sector Fragility and Turkey's 2000–01 Financial Crisis Fatih Özatay, Merkez Bankasi Güven Sak, Merkez Bankasi Panel: Lessons of Recent Currency Crises Morris Goldstein, Institute for International Economics Currency Crises: A Practitioner's View Jose Luis Machinea, Inter-American Development Bank Does East Asia Need a New Development Paradigm? Yung Chul Park, Korea University Currency crises are extremely perplexing problems, initially erupting in a country's financial markets and spreading throughout a country's economy and beyond—often with devastating consequences for real economic activity. Experts on the two most recent crises—in Argentina and Turkey—together with others who have studied currency crises more broadly, examine why such crises continue to erupt and how to mitigate their impact, possibly preventing additional crises in the future. Argentina's Avoidable Crisis: Bad Luck, Bad Economics, Bad Politics, Bad Advice Andrew Powell, Universidad Torcuato di Tella Hard Money's Soft Underbelly: Understanding the Argentine Crisis Ricardo Hausmann, Harvard University Andrés Velasco, Harvard University Banking Sector Fragility and Turkey's 2000–01 Financial Crisis Fatih Özatay, Merkez Bankasi Güven Sak, Merkez Bankasi Panel: Lessons of Recent Currency Crises Morris Goldstein, Institute for International Economics Currency Crises: A Practitioner's View Jose Luis Machinea, Inter-American Development Bank Does East Asia Need a New Development Paradigm? Yung Chul Park, Korea University

Brookings Trade Forum: 2002

The economics profession has become a favourite punching bag in the aftermath of the global financial crisis. Economists are widely reviled and their influence derided by the general public. Yet their services have never been in greater demand. To unravel the paradox, we need to understand both the strengths and weaknesses of economics. Dani Rodrik argues that the multiplicity of theoretical frameworks - what economists call 'models' that exist side by side is economics' great strength. Economists are trained to hold diverse, possibly contradictory models of the world in their minds. This is what allows them, when they do their job right, to comprehend the world, make useful suggestions for improving it, and to advance their stock of knowledge over time. In short, it is what makes economics a 'science' a different kind of science from physics or some other natural sciences, but a science nonetheless. But syncretism is not a comfortable state of mind, and economists often jettison it for misplaced confidence and arrogance, especially when they confront questions of public policy. Economists are prone to fads and fashions, and behave too often as if their discipline is about the search for the model that works always and everywhere, rather than a portfolio of models. Their training lets them down when it comes to navigating among diverse models and figuring out which one applies where. Ideology and political preferences frequently substitute for analysis in choosing among models. So the book offers both a defence and critique of economics. Economists' way of thinking about social phenomena has great advantages. But the flexible, contextual nature of economics is also its Achilles' heel in the hands of clumsy practitioners.

Why Economics Works, When It Fails, and How To Tell The Difference

This annual series provides comprehensive analysis on current and emerging issues of international trade and macroeconomics. Practitioners and academics contribute to each volume, with papers that provide an in-depth look at a particular topic. The fourth edition focuses on the issues and implications of globalization. Contents include: "Holding International Reserves in an Era of High Capital Mobility" Robert P. Flood (International Monetary Fund) and Nancy Marion (Dartmouth College) "The Impossible Duo? Globalization and Monetary Independence in Emerging Markets" Andrés Velasco (Harvard University) "The Adoption of International Labor Standards Conventions: Who, When, and Why?" Nancy H. Chau and Ravi Kanbur (Cornell University) "The Determinants of Individual Trade Policy Preferences: International Survey Evidence" Kevin O'Rourke and Richard Sinnott (Trinity College, Dublin) "Borders, Trade, and Welfare" James E. Anderson (Boston College) and Eric van Wincoop (Federal Reserve Bank of New York) Expansion Strategies of U.S. Multinational Firms Gordon Hanson (University of Michigan), Raymond J. Mataloni Jr. (BEA), and Matthew J. Slaughter (Dartmouth College) 2002, 6 x 9, 300 pp. paper, 0-8157-1575-7, $24.95 / £18.50 (ISSN 1520-5479)

Brookings Trade Forum: 2001

John Strauss

Hollis Burnley Chenery

T.N. Srinivasan

J. Behrman

T. Paul Schultz

Handbooks of development economics/ edit. Chenery.-v.1.

Handbook of Development Economics

The economics of growth has come a long way since it regained center stage for economists in the mid-1980s. Here for the first time is a series of country studies guided by that research. The thirteen essays, by leading economists, shed light on some of the most important growth puzzles of our time. How did China grow so rapidly despite the absence of full-fledged private property rights? What happened in India after the early 1980s to more than double its growth rate? How did Botswana and Mauritius avoid the problems that other countries in sub--Saharan Africa succumbed to? How did Indonesia manage to grow over three decades despite weak institutions and distorted microeconomic policies and why did it suffer such a collapse after 1997? What emerges from this collective effort is a deeper understanding of the centrality of institutions. Economies that have performed well over the long term owe their success not to geography or trade, but to institutions that have generated market-oriented incentives, protected property rights, and enabled stability. However, these narratives warn against a cookie-cutter approach to institution building. The contributors are Daron Acemoglu, Maite Careaga, Gregory Clark, J. Bradford DeLong, Georges de Menil, William Easterly, Ricardo Hausmann, Simon Johnson, Daniel Kaufmann, Massimo Mastruzzi, Ian W. McLean, Lant Pritchett, Yingyi Qian, James A. Robinson, Devesh Roy, Arvind Subramanian, Alan M. Taylor, Jonathan Temple, Barry R. Weingast, Susan Wolcott, and Diego Zavaleta.

Analytic Narratives on Economic Growth

In Search of Prosperity

"This is an attempt to derive broad, strategic lessons from the diverse experience with economic growth in last fifty years. The paper revolves around two key arguments. One is that neoclassical economic analysis is a lot more flexible than its practitioners in the policy domain have generally given it credit. In particular, first-order economic principles protection of property rights, market-based competition, appropriate incentives, sound money, and so on do not map into unique policy packages. Reformers have substantial room for creatively packaging these principles into institutional designs that are sensitive to local opportunities and constraints. Successful countries are those that have used this room wisely. The second argument is that igniting economic growth and sustaining it are somewhat different enterprises. The former generally requires a limited range of (often unconventional) reforms that need not overly tax the institutional capacity of the economy. The latter challenge is in many ways harder, as it requires constructing over the longer term a sound institutional underpinning to endow the economy with resilience to shocks and maintain productive dynamism. Ignoring the distinction between these two tasks leaves reformers saddled with impossibly ambitious, undifferentiated, and impractical policy agendas"--NBER website

Growth Strategies

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.

The new book that's sparked discussion both in Washington and European financial capitals Policy makers in the developing world are grappling with new dilemmas created by openness to trade and capital flows. What role, if any, remains for the state in promoting industrialization? Does openness worsen inequality, and if so, what can be done about it? What is the best way to handle turbulence from the world economy, especially the fickleness of international capital flows? In The New Global Economy and Developing Countries Dani Rodrik argues that successful integration into the world economy requires a complementary set of policies and institutions at home. Policy makers must reinforce their external strategy of liberalization with an internal strategy that gives the state substantial responsibility in building physical and human capital and mediating social conflicts.

Making Openness Work

The New Global Economy and Developing Countries

Arvind Subramanian

Franklin Allen

Nancy Birdsall

Jere Richard Behrman

Shahrokh Fardoust

Andrew Steer

Fluctuations in international trade, financial markets, and commodity prices, as well as the tendency of institutions to favour the interests of the better-off and powerful, pose risks for citizens of all countries. This volume examines the factors that are most likely to facilitate economic growth in low-, middle-, and high-income economies.

Dani Rodrik

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