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The Challenges of Measurement in Political Economy

In: The Design and Use of Political Economy Indicators

Author

Listed:
  • King Banaian
  • Marta Podemska
  • Bryan Roberts

Abstract

In March 2003, U.S. Treasury Undersecretary John Taylor went before the Senate Committee on Foreign Relations to testify for the Millennium Challenge Act (MCA) of 2003.1 MCA was a centerpiece of the Bush administration’s new vision for foreign aid. The vision was that there were three requirements to accelerate the growth of developing economies: there should be more aid; there should be incentives for better performance of these economies; and there had to be measurement of the results. Undersecretary Taylor proceeded to outline a series of measurements produced by governmental and nongovernmental agencies such as Freedom House, the World Bank Institute, the UN’s World Health Organization (WHO) and UNESCO, and the Heritage Foundation. Never before had foreign aid been driven by such measurements; the Bush administration promised $5 billion in new aid to be allocated according to these standards through a new private agency to be called the Millennium Challenge Corporation (MCC). The measure passed.

Suggested Citation

  • King Banaian & Marta Podemska & Bryan Roberts, 2008. "The Challenges of Measurement in Political Economy," Palgrave Macmillan Books, in: King Banaian & Bryan Roberts (ed.), The Design and Use of Political Economy Indicators, chapter 0, pages 1-14, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-61662-2_1
    DOI: 10.1057/9780230616622_1
    as

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