Found 96 article(s) for author 'Dani Rodrik'

The Tyranny of Political Economy

The Tyranny of Political Economy. Dani Rodrik. February 8, 2013. Opinion. “There was a time when we economists steered clear of politics. We viewed our job as describing how market economies work, when they fail, and how well-designed policies can enhance efficiency. We analyzed trade-offs between competing objectives (say, equity versus efficiency), and prescribed policies to meet desired economic outcomes, including redistribution. It was up to politicians to take our advice (or not), and to bureaucrats to implement it…” Link verified June 19, 2014

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The New Mercantilist Challenge

The New Mercantilist Challenge. Dani Rodrik. January 9, 2013. Opinion. “The history of economics is largely a struggle between two opposing schools of thought, “liberalism” and “mercantilism.” Economic liberalism, with its emphasis on private entrepreneurship and free markets, is today’s dominant doctrine. But its intellectual victory has blinded us to the great appeal – and frequent success – of mercantilist practices. In fact, mercantilism remains alive and well, and its continuing conflict with liberalism is likely to be a major force shaping the future of the global economy…” Link verified June 19, 2014

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The Globalization Paradox: A response to Rosa Lastra and Robert Howse

The Globalization Paradox: A response to Rosa Lastra and Robert Howse. Dani Rodrik, Response, January 2013. “If I advocate a regime that places greater emphasis on national sovereignty than Professor Lastra, it is because I differ from her as regards both the normative and efficiency properties of such a solution. First, as Professor Howse notes, international treaties do not automatically qualify for democratic legitimacy, even if the parties are democratic sovereigns. Saying that anything that a democratically elected sovereign does is democratically legitimate would empty democracy of much of its normative content. Democratic…” Link

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After the Fall: The Future of Global Cooperation

After the Fall: The Future of Global Cooperation. Dani Rodrik, Report, July 2012. “International cooperation has been a recurrent theme in each of the thirteen Geneva Reports on the World Economy published by CEPR and ICMB since 1999. The 2004 report, International Economic and Financial Cooperation: New Issues, New Actors, New Responses, analysed this issue in some depth. This report, the fourteenth in the series, picks up this issue once again, but this time the approach is different, the recommendations more cautious and incremental, and the prognosis bleaker. This is not surprising: the authors demonstrate very clearly…” Link

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Who Needs the Nation State?

Who Needs the Nation State? Dani Rodrik, Paper, May 2012. “The nation-state has long been under attack from liberal economists and cosmopolitan ethicists alike. But it has proved remarkably resilient and remains the principal locus of governance as well as the primary determinant of personal attachments and identity. The global financial crisis has further under- scored its centrality. Against the background of the globalization revolution, the tendency is to view the nation-state as a hindrance to the achievement of desirable economic and social outcomes. Yet it remains indispensable to the achievement of those goals…” Link

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Why We Learn Nothing from Regressing Economic Growth on Policies

Why We Learn Nothing from Regressing Economic Growth on Policies. Dani Rodrik, Paper, January 2012. “Government use policy to achieve certain outcomes. Sometimes the desired ends are worthwhile, and sometimes they are pernicious. Cross-country regressions have been the tool of choice in assessing the effectiveness of policies and the empirical relevance of these two diametrically opposite views of government behavior. When government policy responds systematically to economic or political objectives, the standard growth regression in which economic growth (or any other performance indicator) is regressed…” Link

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Do We Need to Rethink Growth Policies?

Do We Need to Rethink Growth Policies? Dani Rodrik, Paper, January 2012. “The current economic crisis has taught us new things, but it does not require a complete rethinking of what we know about growth. The main new thing is that the context in which we are going to think about growth policies might be different. The context arises partly from the difficulties that the advanced countries are going to be facing with the debt overhang and possibly lower growth. What does that do to the growth prospects of the developing countries?” Link

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The Turkish Economy After the Crisis

The Turkish Economy After the Crisis. Dani Rodrik, Paper, January 2012. “The global financial crisis has demonstrated that a financially open economy has many areas of vulnerability. Even when a country keeps its own house in order, it remains at the mercy of developments in external financial markets. So, one lesson to bear in mind is that policymakers need to guard against not just domestic shocks, but also shocks that emanate outward from financial instability elsewhere. To accomplish this, complete financial openness is not the best policy. A second lesson is that Turkey’s prevailing growth strategy can neither be sustained…” Link