Joe Stiglitz, Globalization
and its Discontents:
home page: http://www.gsb.columbia.edu/faculty/jstiglitz/index.cfm
Review
of Joe Stiglitz, Fair Trade for All
William Easterly
2005
paper on structural adjustment
Abstract: ... None of the top 20 recipients of repeated
adjustment lending over 1980–99 were able to achieve reasonable growth
and contain all policy distortions. About half of the adjustment loan recipients
show severe macroeconomic distortions regardless of cumulative adjustment
loans. Probit regressions for an extreme macroeconomic imbalance indicator
and its components fail to show robust effects of adjustment lending or
time spent under IMF programs. An instrumental variables regression for
estimating the causal effect of repeated adjustment lending on policies
fails to show any positive effect on policies or growth.
http://www.nyu.edu/fas/institute/dri/Easterly/File/utopian%20nightmare%20FP.pdf
http://www.wfs.org/reveasterly.htm
http://econ161.berkeley.edu/TotW/Easterly_neoliberal.html
Curse of Wealth:
Michael Ross, "Does Oil Hinder Democracy?" WP 53 (Ap. 2001), 325-61.Return to class page
Terry Lynn Karl, "The Paradox of Plenty: Oil Booms and Petro-States
Melissa Thomas (U. Md)
Scott Pegg (Indiana)