By Caroline Pestieau, R Culpeper, C Pestieau, Roy Culpeper
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Additional info for Development and Global Governance
Three options are possible: to close them down as being no longer relevant to the present world; to let them continue to react to events, which may be useful to the achievement of policy objectives of industrialized countries, but makes little contribution to global problems, and may indeed make some problems worse, by reducing public action and giving an excessive role to the market; or to undertake radical reform to enable the institutions to respond to present global economic and social issues.
There were published figures on gold and dollar holdings (except for the Soviet Union) and on foreign trade, but no formula could meet White’s conditions without giving great weight to national income. My sources for the national incomes of the thirty-four countries I covered were estimates of average consumption found in country studies, estimates of wage rates and family expenditures, and extrapolations from budget and tax data. Countries at a similar stage of development were assumed to have the same per capita income.
1993). Quoted in D. Ghai, “Structural adjustment, global integration and social democracy” in D. Prendergast and F. ), Market Forces and World Development. London: Macmillan. United Nations. (1992). World Investment Report: Transnational Corporations as Engines of Growth. New York: United Nations. This page intentionally left blank. Francisco Sagasti The topic of this meeting, on the governance of international financial institutions, requires at least some agreement on what good governance would be.
Development and Global Governance by Caroline Pestieau, R Culpeper, C Pestieau, Roy Culpeper