Dani Rodrik and Joseph Stiglitz have a paper that discusses the economic growth strategies available for developing countries today in light of the ongoing political and technological changes. Strategies that worked well in the past are unlikely to do so in the decades ahead. In particular, the manufacturing- and export-based growth strategies that drove East Asia’s development miracles are no longer suited for today’s low-income countries; at the very least, they are insufficient. New technologies, the climate challenge, and the reconfiguration of globalization require a new approach for development emphasizing two critical areas: the green transition and labor-absorbing services. Unfortunately, policy makers do not have ready-made recipes or successful models to emulate. Confronting this challenge head-on will require therefore also building greater capacity to learn about new opportunities, constraints, and what works and doesn’t as governments experiment with new policies on a number of fronts.
The jobs challenge for developing countries
The jobs challenge for developing countries
The jobs challenge for developing countries
Dani Rodrik and Joseph Stiglitz have a paper that discusses the economic growth strategies available for developing countries today in light of the ongoing political and technological changes. Strategies that worked well in the past are unlikely to do so in the decades ahead. In particular, the manufacturing- and export-based growth strategies that drove East Asia’s development miracles are no longer suited for today’s low-income countries; at the very least, they are insufficient. New technologies, the climate challenge, and the reconfiguration of globalization require a new approach for development emphasizing two critical areas: the green transition and labor-absorbing services. Unfortunately, policy makers do not have ready-made recipes or successful models to emulate. Confronting this challenge head-on will require therefore also building greater capacity to learn about new opportunities, constraints, and what works and doesn’t as governments experiment with new policies on a number of fronts.