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Learning from the past: Which of the past/current development strategies are best suited to deal with the ‘quadruple crisis’?

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  • Giovanni Andrea Cornia
  • Milica Uvalic

Abstract

During the last decade, the world economy has experienced a worsening in financial stability, food prices, income inequality and environmental conditions. Seven development strategies are evaluated to determine which could help solve ‘quadruple crisis’. These strategies are assessed using a common methodology which first documents the economic, social, environmental and food security policies adopted, and then assesses their outcomes using 11 performance indicators. The strategies are then ranked on the basis of their overall success score. While all strategies produced some positive results, the East Asian Miracle and the new Latin American development approach generated the greatest number of favourable outcomes.

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File URL: http://www.un.org/en/development/desa/papers/2012
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Bibliographic Info

Paper provided by United Nations, Department of Economics and Social Affairs in its series Working Papers with number 116.

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Length: 39 pages
Date of creation: Jun 2012
Date of revision:
Handle: RePEc:une:wpaper:116

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Web page: http://www.un.org/esa
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Related research

Keywords: development strategies; quadruple crisis; financial instability; income inequality; food insecurity; environmental degradation; public policies;

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  1. Carmen M. Reinhart & Kenneth S. Rogoff, 2011. "From Financial Crash to Debt Crisis," American Economic Review, American Economic Association, vol. 101(5), pages 1676-1706, August.
  2. Contreras, Dante & Ffrench-Davis, Ricardo, 2012. "Policy Regimes, Inequality, Poverty and Growth: The Chilean Experience, 1973-2010," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  3. Baer, Werner & Miles, William R. & Moran, Allen B., 1999. "The end of the Asian Myth: Why were the Experts Fooled?," World Development, Elsevier, vol. 27(10), pages 1735-1747, October.
  4. Jayati Ghosh & C. P. Chandrasekhar, 2009. "The costs of 'coupling': the global crisis and the Indian economy," Cambridge Journal of Economics, Oxford University Press, vol. 33(4), pages 725-739, July.
  5. Ocampo, Jose Antonio, 2012. "The Development Implications of External Integration in Latin America," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
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Cited by:
  1. Léonce Ndikumana, 2013. "Overcoming Low Political Equilibrium in Africa: Institutional Changes for Inclusive Development," Working Papers wp331, Political Economy Research Institute, University of Massachusetts at Amherst.

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