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Home , Jeffrey Sachs, Kaushik Basu

University of Sheffield Department of ECN6001

ECN6001

Personnel Module leader Abrar Suleiman Contact details Room MB416 Economics and Management Building C&F Times: Tuesday 15 – 16; Thursday 14 – 15 Email: [email protected]

Tutor Abrar Suleiman

Prerequisites Intermediate microeconomics and

Module Aims and Objectives Aims  To develop a critical awareness of the distinctive features of economic problems in developing countries in the context of an increasingly globalized world.  To provide a rigorous application of the principles of economic theory to the problems of developing countries and global development.  To develop an understanding of how economic theory and analysis can inform public policy debate on global development problems.

The intended learning outcomes are that by the end of the module you should demonstrate  An understanding of the main factors determining the wealth and of nations:  the ability to analyse market structure and behaviour, both urban and rural, in developing countries:  An understanding of how the economies of developing countries function and can be influenced by national and international policy and institutional reform

Transferable Skills  an array of problem-solving and analytical skills designed for careers in research and policy analysis.  individual research and report-writing skills  group discussions and presentation skills

Timetable There will be 2 lectures per week:

Thursday 10:00 – 10:50 MB SR 119 Thursday 11:00 - 11:50 MB SR 119 Starting week 4, there will be seminars, which is timetabled Thursday 12:00 - 12:50 MB SR 119 Seminars are largely orientated towards student-led discussions on essay themes. Plus other sessions as needed.

University of Sheffield Department of Economics ECN6001

Student Responsibilities This is a 15 credit module and therefore it is expected it will require 150 study hours per student (including formal teaching hours). As a rough guideline this means you should expect to devote about 10 hours of study time per week to this module during a 15 week semester. Attendance at all lectures and seminars is compulsory and will be monitored. Draft schedules about seminars will be placed on MOLE at least one week prior to the seminar. Students should make use of staff consultation and feedback times to discuss any issues they have with the module and which are not resolved in lectures or seminars

Assessment The assessment of this module will be by unseen exam (50%) and an essay (50%). By end of week 3, students are required to give their tentative topic for the essay and their preferred date for seminar presentation to the lecturer. Note that presentation at one of the seminars is a compulsory part of the module. Details about the essay including a list of suggested topics will be available no later than 12 October 2011. The submission date for essay is Monday 10 December 2011. The word limit must not be exceeded 3000. Note that the word limit is intended as a signal of intended effort and so a 10% margin is acceptable.

Coursework must always be submitted in hard copy to the Enquiry Office, and by no later than 3.00pm on the day of the deadline. Unauthorised late submissions will incur a penalty of 5% of the mark per day for 5 working days and after that a mark of zero. A Turnitin submission should be made within 5 working days of the paper copy deadline. Failure to submit an assessment to Turnitin by this date will lead to a zero mark for the assessment. Marked coursework will be returned within 3 working weeks. The exam will be two hours in length. A specimen paper will be placed on the module website The pass mark for this module is 50% overall and there is a minimum mark required for every component of 40%. Any change to assessment arrangements will be announced in lectures and also via the website.

Reassessment In the case of students who fail the assessment of this module, repeat assessment will be by examination and/or repeat coursework depending on the nature of any failure . Resit marks will be capped at 50%, Resit candidates must consult the website for further information, up until the time of the reassessment, not merely in semester time.

Website Students must read the module website on MOLE regularly. The header on the homepage will indicate new posts but students should also check regularly for announcements. All the information in this outline, as well as assessment information will be available on the website. Lecture notes will be posted usually before lecture. University of Sheffield Department of Economics ECN6001

Student Feedback The module website has a Module Feedback Report which gives a detailed account by the module leader of the student experience on this module last year. Soon after coursework is returned to students, general feedback will be given on the website on performance in the coursework, in addition to the individual feedback given on the pink cover sheet which accompanies returned coursework.

Course Outline In this module, we shall not follow any particular book. Specific chapters from the following books are given after each lecture.

 Basu, Kaushik (1997) “Analytical Development Economics”, Cambridge, MIT press.  P. Bardhan and C. Udry (1999) Development Microeconomics, Oxford: .  R. Barro and X. Sala -I- Martin, (1995), Economic growth, New York/London: McGraw-Hill, 1995.  Ray, Debraj (1998), Development Economics, Prineston University Press.  G. Meier and J. Rauch (2000) Leading Issues in , Oxford University Press. (latest edition of 2005 can be used)

You may consult the following resources at different parts of the course:

 Handbook of development economics, various issues.  World Development Reports, of various issues are essential, especially for the second part of this module involving some issues such as 19990 and 2000/01 on poverty, 1993 on health, and 1997 on governance. 2004/2005 on pro-poor and equity and 2008 on agriculture on development.  UNDP’s Human Development Report, various issue. Essential are: HDR 2003 (on Millennium Development Goals); HDR 1990 and 2010 (on concepts and measurements of poverty, HDI and the new Multidimensional Poverty Index); HDR 1997 on poverty

Note that these are just indicative rather than exhaustive. Readings are subject to amendement and a list of important readings will be indicated as the course proceeds , and students are strongly advised to consult these readings.

Lectures are divided into three broad themes: (I) Growth and Development: the grand issues; (II) Microeconomics of key markets and institutions,(III) policies and new perspectives.

Part I: Growth and Development: grand issues

Lecture 1: Introduction and background Basu (1997), chapter 1 Debraj (1998), chapter 1 & 2 Bahrdan and Udry (1999), chapter 1 Mier and Rauch (2000), chapter 1

University of Sheffield Department of Economics ECN6001

Further Reading:  Development Program, Human Development Report 2006 (New York, Oxford university press, 2006, Table 1)  UNDP’s Human Development Report, HDR 2003 (on Millennium Development Goals)  Richard Layard, happiness: lessons from a new science (New York, Penguin, 2005, page 5).  UN Millennium Project, Investing in Development: A Practical Plan to Achieve the Millennium Development Goals, Main Report and MDG Needs Assessment, United Nations: New York, January 2005.

Lecture 2: Growth and development models (1): ‘classical’ schools of thought Barro and Martin (1995), chapter 1-5 Basu (1997), chapter 2 & 3 Debraj (1998), chapter 3 & 4 Mier and Rauch (2000), chapter 3 & 4

Further Reading:  W.A. Lewis, ‘Economic development with unlimited supplies of labour’, Manchester School, 1954.  Symposium in Manchester School to celebrate 50th anniversary of the Lewis model, December 2004.

Lecture 3: Growth and development models (2): Growth theories and empirics Barro and Martin (1995), chapter 1-5 Basu (1997), chapter 2 & 3 Debraj (1998), chapter 3 & 4 Meier and Rauch (2000), chapter 3 & 4

Lecture 4: Trade and Growth: policy perspectives of Basu (1997), chapter 4-6 Debraj (1998), chapter 16-18 Bahrdan and Udry (1999), chapter 14 Mier and Rauch (2000), chapter 4

Further Reading (lectures 3-4): (a) growth theories  P. Romer, ‘Increasing returns and long-run growth’, Journal of , vol. 94(1986), 1002-1037.  Peter McAdam and Christopher Allsopp (eds.0 (2007) The Solow growth model, Oxford Review of Economic Policy, Vol. 23, No. 1, Spring 2007 (www.oxrep.oxfordjournals.org)

(b) growth empirics: openness, growth and poverty  , World Development Reports for 1990 (Poverty) and 2000 (Attacking Poverty)  World Bank, Handbook, Washington 1993.  R. Barro, ‘Economic growth in a cross-section of countries’, Quarterly Journal of Economics, vol. 106(1991), 407-443.  R. Levine and D. Renelt, ‘A sensitivity analysis of cross –country growth regressions’, American Economic Review, vol. 82(1992), 942-963.  W. Easterly et al. ‘Good policy or good luck? Country growth performance and temporary shocks’, Journal of Monetary Economics, vol. 32(1993), 459-483.  J. Sachs and A. Warner, ‘Economic reform and the process of global integration’, Brookings Papers on Economic Activity, vol. 1(1995), 1-118.  J. Sachs and A. Warner, ‘Sources of slow growth in African economies’, Journal of African Economies, vol. 6(1997), 335-377.  S. Edwards, Openness, productivity and growth: what do we really know?’, Economic Journal, University of Sheffield Department of Economics ECN6001

vol. 108(1998), 383-399.  P. Mosley, ‘Globalisation, economic policy and convergence’, The , vol. 23(2000), 613-634.  D. Greenaway and others, ‘Trade liberalisation and growth in developing countries: some new evidence’, World Development, vol 25(1997, 1873-1885.  World Bank, The east Asian Miracle, Washington DC 1993, chapter 3.  Sala-i-Martin, X. - I just ran two million regressions, American economic review 87(2), 1997, p.187-183  Dollar, D. and Kraay, A. - Growth is good for the poor. - World Bank Policy Research Working Paper no 2587 (2001)  L. Hanmer and F. Naschold, ‘Attaining the International Development Targets: will growth be enough?’, Development Policy Review, vol. 18 (March 2000) 11-37.  H. Dagdeviren, R. van der Hoeven and J. Weeks, Redistribution matters: growth for poverty reduction, Geneva; ILO employment paper 2000/10.  A. Booth and P. Mosley, The new poverty strategies, Macmillan Palgrave, 2003.  Machiko Nissanke and Erik Thorbecke eds., (2007), The Impact of Globalization on the World’s Poor: Transmission Mechanisms, London, Palgrave Macmillan.  , "The Co-Evolution of the and the Economic Development Discourse", August, 2008. Revised version published in Macalester International, Volume 24, Summer 2009.

Lecture 5: Inequality, Poverty and Growth (1): meaning of development/under- development Debraj (1998), chapter 6-8 Mier and Rauch (2000), chapter 1

Further Readings: • Amartya, Sen, (1999), Development as Freedom, New York, Knolf. • ______(1985), commodities and capabilities, Amesterdam, Elsevier  A.K. Sen, Poverty and famines: an essay on entitlement and deprivation, Oxford: Oxford University Press, 1983.  World Bank, World Development Reports for 1990 (Poverty) and 2000/01 (Attacking Poverty)  World Bank, Poverty Reduction Handbook, Washington 1993.  UNDP’s Human Development Report, HDR 1990 and 2010 (on concepts and measurement of development)  Dervis, Kemal; Klugman, Jeni. (2011) Measuring Human Progress: The Contribution of the Human Development Index and Related Indices. Revue d'Economie Politique. Vol. 121 (1). p 73-92. January- February 2011.  Rubin, Olivier. (2009),The Entitlement Approach: A Case for Framework Development Rather Than Demolition: A Comment on 'Entitlement Failure and Deprivation: A Critique of Sen's Famine Philosophy'., Journal of Development Studies. Vol. 45 (4). p 621-40. April 2009.  Nussbaum, Martha C. (2011), Creating Capabilities: The Human Development Approach. Cambridge and London: Press, Belknap Press. p xii, 237. 2011.

Lecture 6: Inequality, Poverty and Growth (2): concepts, measurement and evidence Debraj (1998), chapter 6 - 8 Mier and Rauch (2000), chapter 8

Further Reading:  World Bank, World Development Reports for 1990 (Poverty) and 2000/01 (Attacking Poverty)  World Bank, Poverty Reduction Handbook, Washington 1993.  UNDP’s Human Development Report, HDR 1990 and 2010 (on concepts and measurement of development)  L. Hanmer and F. Naschold, ‘Attaining the International Development Targets: will growth be University of Sheffield Department of Economics ECN6001

enough?’, Development Policy Review, vol. 18 (March 2000) 11-37.  H. Dagdeviren, R. van der Hoeven and J. Weeks, Redistribution matters: growth for poverty reduction, Geneva; ILO employment paper 2000/10.  A. Booth and P. Mosley, The new poverty strategies, Macmillan Palgrave, 2003.  P.Mosley, A.Suleiman, and Blessing,C (2007),Escape routes from the rural poverty trap: evidence from three African countries, unpublished (can be obtained from one of the authors).  Alam, Asad, et al. (2005) Growth, Poverty, and Inequality: and the Former . Washington, D.C.: World Bank. p xix, 302. 2005.  Ferreira, Francisco H.G.; Ravallion, Martin (2008) Global poverty and inequality : a review of the evidence, World Bank Policy Research Working Paper n0: WPS 4623  Ravallion, Martin, Pro-Poor Growth: A Primer (March 17, 2004). World Bank Policy Research Working Paper No. 3242.

Lecture 7: Inequality, Poverty and Development (3): Economics of famine

Key Readings:  A.K. Sen, Poverty and famines: an essay on entitlement and deprivation, Oxford: Oxford University Press, 1983.  A.K. Sen and D. Jean (eds) 1991, the political economy of Hunger, Volumes 1-3.  G.H. Chang and G.J. Wen, ‘Communal dining and the Chinese famine of 1958-61’, Economic Development and Cultural Change, vol. 45(1997), 1-34.  P. Webb, J. von Braun and Y. Yohannes, Famine in : policy implications of coping failure at national and household levels, Washington DC: IFPRI, 1993.  Lin, J. Y. and Yang, D. T. (2000), Food Availability, Entitlements and the Chinese Famine of 1959–61. The Economic Journal, 110: 136–158. doi: 10.1111/1468-0297.00494  Grada, Cormac. (2009) Famine: A Short History. Princeton and Oxford: Press. p xiii, 327. 2009.  Mason, Nicole M; Jayne, T. S; Chapoto, Antony; Myers, Robert J. (2010) A Test of the New Variant Famine Hypothesis: Panel Survey Evidence from Zambia. World Development. Vol. 38 (3). p 356-68. March 2010.  UmanaAponte, Marcela. (2011) Long-term effects of a nutritional shock: the 1980 famine of Karamoja, . Department of Economics, University of Bristol, UK, The Centre for Market and Public Organisation. p 60 pages. 2011.  Mu, Ren; Zhang, Xiaobo. (2011), Why Does the Great Chinese Famine Affect the Male and Female Survivors Differently? Mortality Selection versus Son Preference., Economics and Human Biology. Vol. 9 (1). p 92-105. January 2011  M. Ravallion, (1997) Famines and Economics, Journal of Economic Literature , Vol. 35, No. 3, Sep., 1997 , pp. 1205 – 1242.  Rubin, Olivier. (2009)The Merits of Democracy in Famine Protection--Fact or Fallacy? European Journal of Development Research. Vol. 21 (5). p 699-717. December 2009.  Tridico, Pasquale; Burchi, Francesco. (2011) , Institutions, Famine and Inequality. Department of Economics - University Roma Tre, Departmental Working Papers of Economics - University 'Roma Tre': 0121. p 38. 2010.  Meng, Xin; Qian, Nancy; Yared, Pierre. The Institutional Causes of China's Great Famine, 1959-61. National Bureau of Economic Research, Inc, NBER Working Papers: 16361. 2010.

Lecture 8-9: The dual economy revisited: Labour market dualism, migration and urban unemployment Basu (1997), chapter 7-10 Debraj (1998), chapter 10 Bahrdan and Udry (1999), chapter 4, 5 & 15 Mier and Rauch (2000), chapter 6

Further Reading:  World Bank, World Development Report 1999-2000 (New York, Oxford university press, 2000) University of Sheffield Department of Economics ECN6001

 ILO-International Labour Office (2009), Global Employment Trends, May 2009  Update, Geneva, ILO.  A. Lewis, ‘Economic development with unlimited supplies of labour’, Manchester School, 1954;  Lewis, W Arthur, 1979. "The Dual Economy Revisited," The Manchester School of Economic & Social Studies, Blackwell Publishing, vol. 47(3), pages 211-29, September.  Gary S. Fields, 2004. "Dualism In The Labor Market: A Perspective On The Lewis Model After Half A Century," Manchester School, vol. 72(6), pages 724-735, December.  Harris J. and M. Todaro (1970). Migration, Unemployment & Development: A Two-Sector Analysis. American Economic Review, March 1970; 60(1):126-42.  Leibenstein, Harvey (1957). Economic Backwardness and Economic Growth. NY: John Wiley & Sons  Joseph E. Stiglitz, 1972. "Alternative Theories of Wage Determination and Unemployment in L.D.C.'s: I. The Labor Turn-Over Model," Cowles Foundation Discussion Papers 335, Cowles Foundation,

Part II: The Rural Economy and Microeconomics of key markets and institutions Lecture 10: State of the rural economy and poverty: Why towards agriculture and employment-based rural development strategy? Basu (1997), chapter 11 Debraj (1998), chapter 10 & 11 Mier and Rauch (2000), chapter 7

Further Reading:  Stein, Howard. (2011) World Bank Agricultural Policies, Poverty and Income Inequality in Sub-Saharan Africa. Cambridge Journal of Regions, Economy and Society. Vol. 4 (1). p 79-90. March 2011.  Ravallion, Martin, Pro-Poor Growth: A Primer (March 17, 2004). World Bank Policy Research Working Paper No. 3242.  Derek D. Headey, 2008. "National policies and the sectoral pattern of economic growth," Agricultural Economics, International Association of Agricultural , vol. 38(3), pages 287-299, 05  Derek Headey & Mohammad Alauddin & D.S. Prasada Rao, 2010. "Explaining agricultural productivity growth: an international perspective," Agricultural Economics, International Association of Agricultural Economists, vol. 41(1), pages 1-14, 01  Bezemer, Dirk & Headey, Derek, 2008. "Agriculture, Development, and Urban Bias," World Development, Elsevier, vol. 36(8), pages 1342-1364, August  Thirtle, Colin; Lin, Lin; Piesse, Jenifer. (2003) The Impact of Research-Led Agricultural Productivity Growth on Poverty Reduction in Africa, Asia and . World Development. Vol. 31 (12). p 1959-75. December 2003.  Dethier, Jean-Jacques; Effenberger, Alexandra. (2011) Agriculture and development: a brief review of the literature. The World Bank, Policy Research Working Paper Series: 5553. 2011.  Christiaensen, Luc; Demery, Lionel. (2007) Down to Earth: Agriculture and Poverty Reduction in Africa. Washington, D.C.: World Bank. p xi, 105. 2007.  Mwabu, Germano; Thorbecke, Erik. (2004) Rural Development, Growth and . Journal of African Economies. Vol. 13 (0). p i16-65. Supplement 1 2004.  Hazell, Peter; von Braun, Joachim. (2006) Guest Editorial: Aid to Agriculture, Growth and Poverty Reduction. EuroChoices. Vol. 5 (1). p 6-13. 2006.

Lecture 11: Rural markets and institutions (1): risk, uncertainty and the vicious circle of poverty Basu (1997), chapter 11-14 Debraj (1998), chapter 12 - 15 Bahrdan and Udry (1999), chapter 6-9 Mier and Rauch (2000), chapter 7

Further Reading:  World Bank, World Development Report 2000/01; Attacking Poverty, chapter 8.  World devedlopmet report 2008, Oxford university ress, 2007, of Sheffield Department of Economics ECN6001

 D. Narayan and others, 2000, Voices of the poor: can anyone hear us? New York; Oxford University Press.  G. Akerlof, ‘The market for lemons’, Quarterly Journal of Economics, 1970, reprinted in Akerlof, An Economic Theorist’s Book of Tales, Cambridge University Press, 1984.  J. Stiglitz and J. Weiss, ‘Credit rationing in markets with imperfect information’, American Economic Review, vol. 71(1981).  Stiglitz, Joseph E, 1974. "Incentives and Risk Sharing in Sharecropping," Review of Economic Studies, Blackwell Publishing, vol. 41(2), pages 219-55, April.  J. Weeks, 1971, ‘Uncertainty, risk and wealth and income distribution in peasant agriculture’, Journal of Development Studies, vol. 8, pp. 28-36.  H. Binswanger, 1981, ‘Attitudes towards risk: theoretical implications of an experiment in rural ’, Economic Journal, vol. 91(19810, 867-891.  I. Finkelstein and E. Feinerman, 1997, ‘Framing the Allais paradox as a daily farm decision problem; tests and explanations’, Agricultural Economics, vol. 15(1997), 155-167.  Sylvain Dessy & Jacques Ewoudou & Isabelle Ouellet, 2006. "Understanding the Persistent Low Performance of African Agriculture," Cahiers de recherche 0622, CIRPEE.

Lecture 12: Rural markets and institutions (2): the green revolution – Asia and Africa Basu (1997), chapter 11-14 Meier and Rauch (2000), chapter 7

Further Reading:  P.Mosley and A.Suleiman (2007), Aid, agriculture and poverty in developing countries, Review of Development Economics, vol. 11(February) 139-159.  Derek, D Heady and Michal E. Johnson, (2008), “Toward a green revolution in Africa: what would it achieve, and what would it require?”, Agricultural Economics, Vol 39 (2008, Issue s1 (November), Pages: 539-550  Feder, Gershon & Just, Richard E & Zilberman, David, 1985. "Adoption of Agricultural Innovations in Developing Countries: A Survey," Economic Development and Cultural Change, University of Chicago Press, vol. 33(2), pages 255-98, January  Nin-Pratt, Alejandro & Johnson, Michael & Magalhaes, Eduardo & Diao, Xinshen & You, Liang & Chamberlin, Jordan, 2009. "Priorities for realizing the potential to increase agricultural productivity and growth in Western and Central Africa:," IFPRI discussion papers 876, International Food Policy Research Institute (IFPRI).  A. Bailey & S. Davidova & P. Hazell (2009)Introduction to the special issue "small farms: decline or persistence?" Agricultural Economics, vol 40, issue s1  M. Lipton and R.Longhurst, 1989, New seeds and poor people, Allen and Unwin.  I. Singh, 1990, The great ascent, Baltimore: Johns Hopkins University Press.  Cleaver, K., 1993. "A Strategy to Develop Agriculture in Sub-Saharan Africa and a Focus for the World Bank," Papers 203, World Bank - Technical Papers.  Larson, Donald F; Otsuka, Keijiro; Kajisa, Kei; Estudillo, Jonna; Diagne, Aliou. (2010) Can Africa replicate Asia's green revolution in rice ? The World Bank, Policy Research Working Paper Series: 5478. 2010.

Case studies  C. Eicher, ‘Zimbabwe’s maize-based green revolution; conditions for replication’, World Development, vol 23(1995), 805-818.  ‘Maize is life: Malawi’s delayed green revolution’, World Development, vol. 23(1995).  P. Mosley, ‘The African green revolution as a pro-poor policy instrument’, Journal of International Development, vol. 14(August 2002), 695-725.  P.Mosley, A.Suleiman, and Blessing,C (2007),Escape routes from the rural poverty trap: evidence from three African countries, unpublished (can be obtained from one of the authors).

 Matshe, I. (2009) Boosting Smallholder Production for Food Security: Some Approaches and Evidence

from Studies in Sub-Saharan Africa. Agrekon. Vol. 48 (4). p 483-511. December 2009.  Zerfu, Daniel; Larson, Donald F. (2010) Incomplete markets and fertilizer use: evidence from Ethiopia. University of Sheffield Department of Economics ECN6001

The World Bank, Policy Research Working Paper Series: 5235. 2010.  Canagarajah, Sudharshan; van Diesen, Arthur. (2011) The Poverty Reduction Strategy Approach Six Years On: An Examination of Principles and Practice in Uganda. Development Policy Review. Vol. 29 (0). p S135-56. Supplement January 2011  Cunguara, Benedito; Darnhofer, Ika. (2011) Assessing the Impact of Improved Agricultural Technologies on Household Income in Rural Mozambique. Food Policy. Vol. 36 (3). p 378-90. June 2011.

Global financial/food crisis and LDCs  IMF-International Monetary Fund (2009), The Implications of the Global Financial Crisis for Low- Income Countries, Washington D. C., International Monetary Fund.

 Headey, Derek D., 2010. "Rethinking the global food crisis," IFPRI discussion papers 958, International Food Policy Research Institute (IFPRI).  Sen, Kunal. (2011) 'A Hard Rain's A-Gonna Fall': The Global Financial Crisis and Developing Countries: Commentary. New Political Economy. Vol. 16 (3). p 399-413. July 2011  Ackello-Ogutu, Chris. (2011) Managing Food Security Implications of Food Price Shocks in Africa. Journal of African Economies. Vol. 20 (0). p i100-141. Supplement 1 2011.  Ivanic, Maros; Martin, Will; Zaman, Hassan. (2011) Estimating the short-run poverty impacts of the 2010- 11 surge in food prices. The World Bank, Policy Research Working Paper Series: 5633. 2011.

Websites for important information on African Green Revolution:  World Bank, World Development Report 2008 (was dedicated to the state of world agriculture and how to move it forward)  Food and Agricultural Organisation of the UN (FAO) especially "The Green Revolution in Asia: Lessons for Africa", Hira Jhamtani, FAO 2010 (http://www.fao.org/docrep/012/al134e/al134e02.pdf)  Alliance for a Green Revolution in Africa (AGRA): http://www.agra-alliance.org/  Consultative Group on International Agricultural Research (CGIAR) (the oldest research institute for agriculture, particularly its research on HYVs in wheat, etc was responsible for the Asian Green Revolution in the 60s and 70s along with the Rockfeller Foundation…at the moment one of the private main funders is Global Development, Bill & Melinda Gates Foundation)  IFAD, Rural poverty report 2001, Rome; International Fund for Agricultural Development.

Lecture 13: Rural markets and institutions (3): Credit and Financial markets (microfinance) Basu (1997), chapter 11-14 Debraj (1998), chapter 12 - 15 Bardhan and Udry (1999), chapter 6-9

Further reading:  D. Hulme and P. Mosley, Finance against Poverty, 2 vols. Routledge, 1996.  Complete issue of Small Enterprise Development, vol 12 (March 2001), on microinsurance.  Special issue of Journal of International Development, vol. 16:3 (Feb 2004) on wider impacts of microfinance.  A. Hollis and A. Sweetman, ‘Microcredit: what can we learn from the past?’, World Development, vol. 26(1998), 783-791.  P. Mosley and D. Hulme, ‘Microenterprise finance; is there a conflict between growth and poverty alleviation?’ World Development, vol. 26(1998), 783-791.  J. Morduch, ‘The microfinance promise’, Journal of Economic Literature, vol. 37(Dec 1999), 1569-1615.  J. Morduch, ‘The microfinance schism’, World Development, vol. 28:4 (April 2000), 617-631.  M. Harper, Profit for the poor; cases in micro-finance, London; Intermediate Technology Publications.  Conning, Jonathan & Udry, Christopher, 2007. "Rural Financial Markets in Developing Countries," Handbook of Agricultural Economics, Elsevier  Gutierrez-Goiria, Jorge; Goitisolo, Beatriz. (2011), Profitability and Social Performance of Microfinance

Institutions: Empirical Evidence of Relations between Different Types of Variables., Revista de Economia Mundial. Vol. 0 (27). p 189-214. 2011. University of Sheffield Department of Economics ECN6001

 Pokhriyal, A. K; Ghildiyal, Vipin. (2011), Progress of Microfinance and Financial Inclusion: "A Critical Analysis of SHG-Bank Linkage Program in India". International Journal of Economics and Finance. Vol.

3 (2). p 255-62. May 2011.  Hermes, Niels; Lensink, Robert. (2011) Microfinance: Its Impact, Outreach, and . World Development. Vol. 39 (6). p 875-81. June 2011.  D'Espallier, Bert; Guerin, Isabelle; Mersland, Roy. (2011) Women and Repayment in Microfinance: A Global Analysis. World Development. Vol. 39 (5). p 758-72. May 2011  Ghosh, Suman; Van Tassel, Eric. (2011) Microfinance and Competition for External Funding. Economics Letters. Vol. 112 (2). p 168-70. August 2011.  Rossel-Cambier, Koen. (2011) Understanding the Dynamics of Product Diversification on Microfinance Performance Outcomes: A Case Study in Barbados. ULB -- Universite Libre de Bruxelles, Working Papers CEB: 11-008. p 40 p. 2011  Berhane, Guush; Gardebroek, Cornelis. (2011) Does Microfinance Reduce Rural Poverty? Evidence Based on Household Panel Data from Northern Ethiopia. American Journal of Agricultural Economics. Vol. 93 (1). p 43-55. January 2011.  Karlan, Dean; Valdivia, Martin. (2011) Teaching Entrepreneurship: Impact of Business Training on Microfinance Clients and Institutions. Review of Economics and Statistics. Vol. 93 (2). p 510-27. May 2011.  Annim, Samuel Kobina. (2011) Sensitivity of Loan Size to Lending Rates Evidence from Ghana's Microfinance Sector. World Institute for Development Economic Research (UNU-WIDER), Working Papers: UNU-WIDER Working Paper WP2011/03. p 31 pages. 2011.

Part III: Policy issues and new perspectives Lecture 14-15: industrialization, vicious circle, and big push: Back to the future Basu (1997), chapter 2-6 Debraj (1998), chapter 5, chapters 16-17 Bahrdan and Udry (1999), chapter 12 &16 Mier and Rauch (2000), chapter 2, 4

Further Reading:  P. Rosenstein- Rodan, ‘Problems of industrialisation of eastern and south-eastern Europe’, Economic Journal, vol 53(1943)  T. Scitovsky, ‘Two concepts of external economies’, Journal of political Economy, 1954. Also in Agarwala and Singh (4), pages 295-309.  K. Murphy, A. Shleifer and A. Vishny, ‘Industrialisation and the big push’, Journal of Political Economy, vol. 97(1989), 1003-1026.  P. Krugman, ‘Towards a counter-counterrevolution in ’, Proceedings of the Annual World Bank Conference in Development Economics for 1992 (special issue of the World Bank Economic Review for 1993), 15-48.  Easterly, William (2005), Reliving the 50s: the Big Push, Poverty Traps and Takeoffs in Economic Development, IFPRI/Cornell Conference on Threshold Effects and Non-Linearities in Growth and Development.  Hoff, Karla (2000), Beyond Rosenstein-Rodan: the Modern Theory of Traps, Washington D. C., the World Bank, Annual World Bank Development Economics Conference.  Graham, Bryan S. and Jonathan Temple, 2004. “Rich Nations, Poor Nations: How much can multiple equilibria explain?,” mimeo, Harvard University.  Azariadis, Costas, and John Stachurski, (2004), “Poverty Traps”, in the Handbook of Economic Growth, Aghion and Durlauf eds.(2004)  Rodríguez, Francisco (2008), An Empirical Test of the Poverty Traps Hypothesis, Brasilia, International Poverty Centre (IPC) technical paper 4.  Zafar, Ali. (2010) Learning from the Chinese miracle: development lessons for Sub-Saharan Africa. The World Bank, Policy Research Working Paper Series: 5216. 2010.  Headey, Derek & Kanbur, Ravi & Zhang, Xiaobo, 2008. "China's Growth Strategies," Working Papers 51156, , Department of Applied Economics and Management. (also In Ravi Kanbur and Xiaobo Zhang (eds.), (2008) Governing Growth in China: Equity andInstitutions, Routledge University of Sheffield Department of Economics ECN6001

 Ravi Kanbur and Xiaobo Zhang (eds.), (2009) Governing Growth in China: Equity andInstitutions, Routledge,  Ravi Kanbur and A. Michael Spence (Eds.) Equity and Growth in a Globalizing World, (2010).  Kim, Ji-Hong (2006), Korean Experience and African Economic Development, mimeo, Tunis, African Development Bank Economic Conference, 22-24 November.  Thorbecke, Erik and Henry Wan Jr. (2004), Revisiting East (and South East) Asia’s Development Model, mimeo, Ithaca, Cornell University Conference ‘Seventy Five Years of Development’, May 7-9.  Subramanian, Uma and Matthias Matthijs (2007), Can Sub-Saharan Africa Leap into Global Network Trade?, Washington D. C., the World Bank, policy research working paper 4112.  UNIDO (2005), Industrial Development Report 2005: Capability Building for Catching-up: Historical, Empirical and Policy Dimensions, Vienna, UNIDO.  Saba Arbache, Jorge and John Page (2007a), Patterns of Long Term Growth in Sub-Saharan Africa, Washington D. C., the World Bank, November, background paper for the African Development Indicators 2007.  Abhijit Banerjee, , , Ravi Kanbur and Dilip Mookherjee, "New Directions in Development Economics: Theory or Empirics?" September 2005. Revised Version published in Economic and Political Weekly, Vol XL, No. 40, pp 4328-4346.

Lecture 16: Human capital, labour and gender inequality Bahrdan and Udry (1999), chapter 10 Meier and Rauch (2000), chapter 5

Further Reading:  World Bank, (2000,) The quality of growth, Oxford University Press, New York  United Nations Development Program, Human Development Report, 2006 (New York, United Nations, 2006)  S. Dercon and P. Krishnan(2000) ‘In sickness and in health: gender and health inequalities in rural Ethiopia’, Journal of Political Economy, 108(4), pp.688-727.  McDonald, S. and Roberts, J. (2007) 'AIDS and economic growth: a human capital approach', Journal of Development Economics, vol. 80, no. 1, pp. 228-250, January,  F. Blau, M. Feber and A. Winkler, The economics of women, men and work, Prentice-Hall, 2002.  K. Basu, ‘Child labour: cause, consequence and cure, with remarks on international labour standards’, Journal of Economic Literature, vol. 38(1998), 1083-1119.  K. Basu and Pham Hoang Van, ‘The economics of child labour’, American Economic Review, vol. 88(1999), 412-427.  C. Nardinelli, Child labour in the Industrial Revolution, Indiana University Press, 1990.  M. Ravallion and Q. Wodon, ‘Does child labour displace schooling?’ Evidence on behavioural responses to an employment subsidy’, Economic Journal, vol. 110 (March 2000), C158-C175.  P. Dasgupta, An essay on well-being and destitution, Cambridge University Press, 1993.  Gyimah-Brempong, K. et al - Hiogher education and economic growth in Africa, Journal of development studies 42(3), 2006, p.509-529  Entire issue of World Development vol. 27;3 1999, special section on Women Workers in a Globalised Economy, essays by Mehra and Gammage, Elson, Horton et al.  Strauss and Thomas (1998), Health, Nutrition and economic development, Journal of Economic Literature, Vol XXXVI, pp. 766-817  , Development As Freedom, 1999  Headey, Derek & Kanbur, Ravi & Zhang, Xiaobo, 2008. "China's Growth Strategies," Working Papers 51156, Cornell University, Department of Applied Economics and Management. (also In Ravi Kanbur and Xiaobo Zhang (eds.), (2008) Governing Growth in China: Equity andInstitutions, Routledge,  Jha, Raghbendra, Raghav Gaiha and Anurag Sharma. 2009. Calorie and Micronutrient Deprivation and Poverty Nutrition Traps in Rural India, World Development, vol. 37, n°5, pp. 982-991.

Lecture 17: Population, environment and development Debraj (1998), chapter 9 Bahrdan and Udry (1999), chapter 3 & 13 Mier and Rauch (2000), chapter 5 & 10 University of Sheffield Department of Economics ECN6001

Further Reading:  Human Development Report, 2007/8 on  World Bank, World Development Report 1992; Environment.  World Bank, World Development Report 1984: Population.  United Nations (UN) (2001). Population, Environment and Development: the Concise Report, New York.  Stern, N. H, The economics of climate change - review, H M Treasury, 2007  Ostrom, Elinor. - Governing the commons : the evolution of institutions for collective actio... - Cambridge : Cambridge University Press, 1990.  Birdsall, Nancy - Economic approaches to . In: Handbook of development economics / edited by Hollis Chenery and T.N. Srin... - Vol.2. - Amsterdam; Oxford : North-Holland, 1989.  Karl-Goran Maler (1998), environment, poverty and growth, in annual world bank conference on development economics, washington DC. And in the same volume, Ramon, E. Lopez “where development can or can not go: the roloe of poverty-environment linkage”  B. Agrawal, ‘Partcipatory exclusions, community forestry and gender: an analysis for South Asia and a conceptual framework’, World Development, vol. 29(Oct 2001), 1623-1648.  G. Grossman and A. Krueger, ‘Economic growth and the environment’, Quarterly Journal of Economics, vol. 112(1995)  Symposium on global environmental management (K Brown ed.) Journal of International Development, vol. 13:7(Oct 2001), 893-951.  M. Lockwood ed. Complete issue of Journal of International Development, vol. 7:1(Jan-Feb 1995), The demographic transition in Africa.  D. Stern, “The Rise and Fall of the EKC”, World Development 2004.  S. Dasgupta et al, “Confronting the EKC” Journal of Economic Perspectives, 2002  Dasgupta, P., 2003. Population, Poverty and the Natural Environment. In: Karl-Goran, M. and V. Jeffrey, (Eds.), Handbook of Environmental Economics.Vol: 1. Amsterdam: Elsevier Science.

Useful websites on poverty, population and environment

 UNEP is the one for environment, and particularly climate change http://www.unep.org/  FAO’s section http://www.fao.org/nr/nr-home/en/  UNFPA’s sustainability section http://www.unfpa.org/pds/sustainability.htm  UNDP’s environment and energy section http://www.undp.org/energyandenvironment/

Lectures 18. The political economy of development: governance,conflict and inequality Bahrdan and Udry (1999), chapter 17 Mier and Rauch (2000), chapter 8 & 9

Further Reading:  P. Collier and A. Hoeffler, ‘On economic causes of civil war’ Oxford Economic Papers 50 (1998) 563-573.  P. Collier and A. Hoeffler, ‘Greed and grievance in civil war’ Oxford Economic Papers 56 (2004) 563-595.  W. Nafziger, F. Stewart and R. Vayrynen, War, Hunger and development, 2 vols.,Oxford University Press, 2001.  W. Nafziger and J. Auvinen, ‘Economic development, inequality, war, and state violence’ World Development, vol. 30 (2002), 153-163.  C. Kramer, ‘Does inequality cause civil war?’, Journal of International Development (2003)  Special issue of Journal of International Development (vol 15: 4, May 2003), Explaining violent conflict; going beyond ‘greed versus grievance’.  M. Bisogno and A. Chong, ‘Poverty and inequality in Bosnia and Herzegovina after the civil war’, World Development, vol. 30(1),2002, pp. 61-75.  P. Mosley, The ‘political poverty trap’: Bolivia 1997-2005’, unpublished paper, University of Sheffield.  P.Mosley, ‘the Politics of Poverty Reduction’, Oxford university press (forthcoming).

Lectures 19: Foreign Finance and Development Basu (1997), chapter 5-6 University of Sheffield Department of Economics ECN6001

Mier and Rauch (2000), chapter 8 & 9

Further Reading:  C. Burnside and D. Dollar, ‘Aid, policies and growth’, American Economic Review, vol. 90 (Sept 2001), 847-869.  H. Hansen and F. Tarp, ‘Aid effectiveness disputed’, Journal of Development Economics, vol. 64 (September 2001), 547-570.  P. Mosley, J. Hudson and S. Horrell, ‘Aid, the public sector and the market in less developed countries’, Economic Journal, vol. 97(1987), 616-642.  P. Mosley, J. Hudson, ‘Aid, poverty reduction and the ‘new conditionality’, Economic Journal, vol. 114(June 2004), 217-244.  P.Mosley and A.Suleiman (2007), Aid, agriculture and poverty in developing countries, Review of Development Economics, vol. 11(February) 139-159….  World Bank, Assessing Aid, Oxford University Press, 1998.  H. White, ‘Will the new aid agenda help promote poverty reduction?’, Journal of International Development, vol. 13:7 (October 2001), 1057-1071.  Easterly, William. “Can Foreign Aid Buy Growth?”, Journal of Economic Perspectives, Summer 2003  Hansen, Henrik & Headey, Derek, 2009. "The short-run macroeconomic impact of foreign aid to small states: An agnostic time series analysis," IFPRI discussion papers 863, (IFPRI  Kraay, Art and Claudio Raddatz (2005), Poverty Traps, Aid and Growth, Washington D. C., the World Bank, policy research working paper 3631.

Lectures 20: Summary: post-‘Washington consensus’ views of development.  Sen. Amartya (1985), commodities and capabilities, Amesterdam, Elsevier  World Bank, world development report 2005, New york,Oxford university press.  UN Millennium Project, Investing in Development: A Practical Plan to Achieve the Millennium Development Goals, Main Report and MDG Needs Assessment, United Nations: New York, January 2005.  Rodrick, D. (2006) Goodbye Washington Consensus,Hello Washington Confusion?A Review of the World Bank’sEconomic Growth in the 1990s: Learning from a Decade of Reform, Journal of Economic Literature, Vol. XLIV (December 2006), pp. 973–987  & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, vol. 91(5), pages 1369-1401,.  Daron Acemoglu & Simon Johnson & James Robinson, 2004. "Institutions as the Fundamental Cause of Long-Run Growth," NBER Working Papers 10481, National Bureau of Economic Research, Inc.  , : how we can make it happen in our lifetime, Penguin, 2005.  , The white man’s burden, Oxford University Press, 2006.  Easterly, William (2005), Reliving the 50s: the Big Push, Poverty Traps and Takeoffs in Economic Development, IFPRI/Cornell Conference on Threshold Effects and Non-Linearities in Growth and Development.  , The bottom billion, Oxford University Press, 2007.  Narcis serra, Joseph Stigliz (eds) (2008), The Washington Consensus Reconsidered: Towards a New (Initiative for Policy Dialogue series), Oxford University Press.  Ha-Joon Chang, Bad Samaritans: the guilty secrets of rich nations and the threat to global prosperity, , 2008.  Ravi Kanbur, "The Co-Evolution of the Washington Consensus and the Economic Development Discourse", August, 2008. Revised version published in Macalester International, Volume 24, Summer 2009.  Commission on Growth and Development. 2008. The Growth Report: Strategies for Sustained Growth and Inclusive Development. World Bank: Washington, D.C. http://www.growthcommission.org/index.php?option=com_content&task=view&id =96&Itemid=169  IMF-International Monetary Fund (2009), The Implications of the Global Financial Crisis for Low-Income Countries, Washington D. C., International Monetary Fund.

Note that the schedule of topics may be altered.