DOCSLIB.ORG

A Political Economy of Lebanon, 1948-2002 : the Limits of Laissez-Faire / by Toufic K

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
A Political Economy of Lebanon, 1948-2002 : the Limits of Laissez-Faire / by Toufic K SEPS-92-gaspard.qxd 11/14/2003 10:20 AM Page i A POLITICAL ECONOMY OF LEBANON, 1948–2002 SEPS-92-gaspard.qxd 11/14/2003 10:20 AM Page ii SOCIAL, ECONOMIC AND POLITICAL STUDIES OF THE MIDDLE EAST AND ASIA (S.E.P.S.M.E.A.) (Founding editor: C.A.O. van Nieuwenhuijze) Editor REINHARD SCHULZE Advisory Board Dale Eickelman (Dartmouth College) Roger Owen (Harvard University) Judith Tucker (Georgetown University) Yann Richard (Sorbonne Nouvelle) VOLUME 92 SEPS-92-gaspard.qxd 11/14/2003 10:20 AM Page iii A POLITICAL ECONOMY OF LEBANON, 1948–2002 The Limits of Laissez-faire BY TOUFIC K. GASPARD BRILL LEIDEN • BOSTON 2004 SEPS-92-gaspard.qxd 11/14/2003 10:20 AM Page iv This book is printed on acid-free paper. Library of Congress Cataloging-in-Publication Data Gaspard, Toufic K. A political economy of Lebanon, 1948-2002 : the limits of laissez-faire / by Toufic K. Gaspard. p. cm. — (Social, economic, and political studies of the Middle East and Asia, ISSN 1385-3376 ; v. 92) Includes bibliographical references (p. ) and index. ISBN 90-04-13259-7 1. Lebanon—Economic conditions—20th century. 2. Economic development—Political aspects—Lebanon—History—20th century. 3. Free enterprise—Lebanon—History—20th century. I. Title. II. Series. HC415.24.G37 2003 330.95692’043—dc22 2003060373 ISSN 1385-3376 ISBN 90 04 13259 7 © Copyright 2004 by Koninklijke Brill NV, Leiden, The Netherlands All rights reserved. No part of this publication may be reproduced, translated, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission from the publisher. Authorization to photocopy items for internal or personal use is granted by Brill provided that the appropriate fees are paid directly to The Copyright Clearance Center, 222 Rosewood Drive, Suite 910 Danvers, MA 01923, USA. Fees are subject to change. printed in the netherlands GASPARD_F1_v-xx 11/11/03 10:58 AM Page v v To Nada, Kabalan, Yumna and, not least, Alya GASPARD_F1_v-xx 11/11/03 10:58 AM Page vi vi This page intentionally left blank GASPARD_F1_v-xx 11/11/03 10:58 AM Page vii vii CONTENTS List of tables .............................................................................. xiii Preface ........................................................................................ xvii A political economy of Lebanon, 1948–2002: The limits of laissez-faire ...................................................... xix Introduction ................................................................................ 1 CHAPTER ONE OF SPONTANEITY AND DESIGN: THE MARKET AND ECONOMIC DEVELOPMENT In the mainstream: the efficiency of markets .......................... 6 Fundamentals of neoclassical economics .............................. 6 Updating the pure neoclassical theory ................................ 10 Neoclassical theory and developing countries ...................... 13 Post-Keynesianism, or the revival of classical political economy .................................................................................. 15 The Post-Keynesian critique ................................................ 16 What Post-Keynesianism is .................................................. 23 Development: a Post-Keynesian perspective ........................ 29 The radical critique .................................................................. 32 Capitalism and economic development ................................ 33 Capitalism, between chance and necessity .......................... 35 Modernism versus Postmodernism in economics? .............. 37 An assessment ............................................................................ 39 GASPARD_F1_v-xx 11/11/03 10:58 AM Page viii viii CHAPTER TWO THE ROAD TO LAISSEZ-FAIRE: A HISTORICAL PERSPECTIVE Early capitalism and industrialization in 19th century Lebanon .................................................................................. 43 The end of feudalism ............................................................ 44 The seeds of capitalism ........................................................ 45 The demise of industry ........................................................ 47 Industrial resurgence and the triumph of laissez-faire, 1920–1950 .............................................................................. 49 The new economic environment .......................................... 50 The second industrial opportunity ........................................ 51 The triumph of laissez-faire .................................................. 54 The rules of the game .............................................................. 59 The political setting .............................................................. 60 The factor and product markets .......................................... 63 CHAPTER THREE GROWTH WITHOUT DEVELOPMENT The record of growth and development in Lebanon ............ 68 Growth and development performance: a first impression ................................................................ 70 The growth record re-examined .......................................... 72 The distribution of income and wealth .............................. 73 Education, skills and culture under laissez-faire .................. 76 Labor and skills in the development process .......................... 80 Skills: whence they came and where they went ................ 82 The underdevelopment of capitalism .................................. 85 The market without capitalism ................................................ 88 Independent labor and development .................................... 88 Independent activity in agriculture ...................................... 90 Independent activity in industry and services .................... 93 Transfers and emigration ...................................................... 95 GASPARD_F1_v-xx 11/11/03 10:58 AM Page ix ix CHAPTER FOUR LAISSEZ-FAIRE AGAINST INDUSTRY Industry in context .................................................................... 102 A historical background ........................................................ 102 Cost and demand conditions ................................................ 106 Other structural elements ...................................................... 108 Manufacturing performance ...................................................... 112 The industrial series .............................................................. 112 Productivity and linkages ...................................................... 115 What happened? ........................................................................ 120 A theoretical interlude: Pasinetti’s dynamics of growth ...... 120 Mechanization, capital intensity and productivity .............. 124 Capital accumulation under laissez-faire .................................. 128 Consumption versus investment ............................................ 128 Industrialization without capitalism ...................................... 131 The moral of the story .............................................................. 136 The conservatism of laissez-faire .......................................... 136 What could have been .......................................................... 138 CHAPTER FIVE THE REPRODUCTION OF LAISSEZ-FAIRE The exchange economy ............................................................ 142 Breathless: laissez-faire without support .............................. 142 Trade and transfers: the balance of payments .................... 146 Structural change under laissez-faire ........................................ 151 Growth without structural change ........................................ 151 The productivity of laissez-faire ............................................ 156 Income distribution and the development of capitalism ........ 160 Income distribution and profitability .................................... 160 Subsistence and the structure of wages .............................. 163 The development of waged employment ............................ 167 GASPARD_F1_v-xx 11/11/03 10:58 AM Page x x Playing the game: behavior and the reproduction of laissez-faire .............................................................................. 169 Life after profits: business investment behavior .................. 170 Households as workers .......................................................... 175 The foreign sector: a financial relationship ........................ 178 Government: subsidizing the market .................................... 180 A summing-up ............................................................................ 184 CHAPTER SIX FROM CRISIS TO RECONSTRUCTION Coping with war, 1975–1990 .................................................. 187 Political milestones ................................................................ 187 The efficiency of laissez-faire ................................................ 189 Banks: the jewel in the crown .................................................. 192 Banking structure and evolution, 1950–2002 ...................... 193 Financial versus economic intermediation ............................ 196 Laissez-faire in crisis .................................................................. 198 The setting .............................................................................. 199 Going all the way: anatomy of a currency crisis .............. 200 Aftermath ...............................................................................
Load more

Recommended publications
  • Which Developmentalism
    1 Which developmentalism? A Keynesian-Institutionalist proposal Fernando Ferrari Filho Professor of Economics at Federal University of Rio Grande do Sul and Researcher at National Council for Scientific and Technological Development, Brazil. [email protected] Pedro Cezar Dutra Fonseca Professor of Economics at Federal University of Rio Grande do Sul and Researcher at National Council for Scientific and Technological Development, Brazil. [email protected] Abstract: Academic discussion of Brazil’s economic growth is currently framed in terms of export-led growth and wage-led growth, identified, respectively, with the new- developmentalism and the social-developmentalism approaches. This article presents a Keynesian-Institutionalist proposal to the Brazilian economy based on a wage-led regime without neglecting the long run balance of payment on current account requirement to ensure macroeconomic stability in the Brazilian economy. Keywords: New-developmentalism, social-developmentalism, Keynesian- Institutionalist, wage-led, profit-led and export-led growths. JEL Codes: B, B5. 1 Introduction While priority was given to monetary stability during the 1980s and 1990s, economic growth has gradually been finding its way back to both theoretical economic debate and economic policy discussions in Brazil since the 2000s. This has been due partly, on the one hand, to the election of various governments critical of neoliberalism in Latin America and, on the other hand, to the 2007-2008 financial crisis, which restored interventionism to the agenda,
    [Show full text]
  • The Life and Death of Trade Flows: Understanding the Survival Rates of Developing-Country Exporters 127 Paul Brenton, Martha Denisse Pierola, and Erik Von Uexküll
    48103 Public Disclosure Authorized BREAKING INTO NEW MARKETS Public Disclosure Authorized EMERGING LESSONS FOR EXPORT DIVERSIFICATION Public Disclosure Authorized EDITORS RICHARD NEWFARMER WILLIAM SHAW PETER WALKENHORST Public Disclosure Authorized BREAKING INTO NEW MARKETS BREAKING INTO NEW MARKETS Emerging Lessons for Export Diversification RICHARD NEWFARMER WILLIAM SHAW AND PETER WALKENHORST Editors © 2009 The International Bank for Reconstruction and Development / The World Bank 1818 H Street, NW Washington, DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org E-mail: [email protected] All rights reserved 1 2 3 4 12 11 10 09 This volume is a product of the staff of the International Bank for Reconstruction and Development / The World Bank. The findings, interpretations, and conclusions expressed in this volume do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judge- ment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this publication is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. The International Bank for Reconstruction and Development / The World Bank encourages dissemination of its work and will normally grant permis- sion to reproduce portions of the work promptly. For permission to photocopy or reprint any part of this work, please send a request with complete information to the Copyright Clearance Center Inc., 222 Rosewood Drive, Danvers, MA 01923, USA; telephone: 978-750-8400; fax: 978-750-4470; Internet: www.copyright.com.
    [Show full text]
  • Underestimating Savings and Investment in an Open Economy
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Research Papers in Economics WP-2007-015 Data and Definitions: Underestimating Savings and Investment in an Open Economy Ashima Goyal Indira Gandhi Institute of Development Research, Mumbai October 2007 Data and Definitions: Underestimating Savings and Investment in an Open Economy1 Ashima Goyal Indira Gandhi Institute of Development Research (IGIDR) General Arun Kumar Vaidya Marg Goregaon (E), Mumbai- 400065, INDIA Email: [email protected] Abstract This note clarifies definitions and derives from first principles the relationship between investment, domestic and foreign savings in order to show that there is underestimation of investment and foreign savings given conceptual macroeconomic definitions and Indian practice. Indian national accounts report and use gross domestic savings but the measure of capital inflows used with it is the one appropriate for gross national savings. The degree of underestimation is shown using recent data and implications drawn from the errors. Key words: gross domestic and national savings, capital formation, national accounts JEL Code(s): E21, E22, F36, O47 1 The author thanks Atul Sarma and Raghbendra Jha for comments and T.S.Ananthi for help with the tables. 2 Data and definitions: Underestimating Savings and Investment in an Open Economy Ashima Goyal The Indian statistical and measurement system set up was advanced for its time and place. Experts nurtured it carefully. But innovation was required to cut through complexities due to underdevelopment and to lack of data for the large unorganized sectors. Approximations are particularly marked in the estimation of savings and investment and where the open economy impinges on the two.
    [Show full text]
  • Open Economy Macroeconomics Lecture Notes Department of Economics BOGAZICI EC 208
    Open Economy Macroeconomics Lecture Notes Department of Economics BOGAZICI EC 208 Ozan Hatipoglu Department of Economics, Bogazici University Spring 2018 Ozan Hatipoglu (Department of Economics) Open Economy Macroeconomics Spring 2018 1 / 1 Role 1: Transfers purchasing power from one currency to another and allows for international transactions. Role 2: Provides credit for foreign trade Role 3: Facilitates hedging against currency shocks Special Characteristics 1: Largest market in the world in terms of trade volume (over $6 trillion daily in spot, forward and swaps) Special Characteristics 2: 24 hours trading and no trading limit Special Characteristics 3: No commissions by brokers but bid-ask spread required by dealers Foreign Exchange (FX) Markets -Definition, Functions and Features Definition: A market where national currencies are bought and sold Ozan Hatipoglu (Department of Economics) Open Economy Macroeconomics Spring 2018 2 / 1 Role 2: Provides credit for foreign trade Role 3: Facilitates hedging against currency shocks Special Characteristics 1: Largest market in the world in terms of trade volume (over $6 trillion daily in spot, forward and swaps) Special Characteristics 2: 24 hours trading and no trading limit Special Characteristics 3: No commissions by brokers but bid-ask spread required by dealers Foreign Exchange (FX) Markets -Definition, Functions and Features Definition: A market where national currencies are bought and sold Role 1: Transfers purchasing power from one currency to another and allows for international transactions.
    [Show full text]
  • Centralisation of Wage Bargaining and Macroeconomic Performance .A Survey
    OECD Economic Studies No . 21. Winter 1993 CENTRALISATION OF WAGE BARGAINING AND MACROECONOMIC PERFORMANCE .A SURVEY Lars Calmfors CONTENTS Introduction ................................................ 162 I. lnternalisation effects and centralisation ....................... 163 II. The hump-shape hypothesis and the effect of competitive pressures 165 A . The basic theoretical argument .......................... 165 B . Extensions to the basic model ........................... 167 C . Centralisation and decentralisation in practice ............... 170 Ill. Different dimensions of decentralisation ....................... 172 A . Decentralisation according to profession ................... 172 B . Centralisation by region ................................ 174 C . The extent of unionisation .............................. 175 IV. Multilevel bargaining ...................................... 176 V . Empirical research ....................................... 179 A . Studies of centralisation and macroeconomic performance ..... 179 B. Centralisation and parameters in wage and price equations .... 180 C . The contribution of empirical research ..................... 181 Vl . Conclusions ............................................ 182 Bibliography ................................................ 187 ~~ An extended version of this paper is available as OECD Economics Department Working Papers. No. 131. The author is from the Institute for International Economic Studies. Stockholm University. He is grateful to Jan Broms. Ann Chadeau. Jsrgen Elmeskov.
    [Show full text]
  • Subsistence Agriculture in Central and Eastern Europe: How to Break the Vicious Circle?
    Studies on the Agricultural and Food Sector in Central and Eastern Europe Subsistence Agriculture in Central and Eastern Europe: How to Break the Vicious Circle? edited by Steffen Abele and Klaus Frohberg Subsistence Agriculture in Central and Eastern Europe: How to Break the Vicious Circle? Studies on the Agricultural and Food Sector in Central and Eastern Europe Edited by Institute of Agricultural Development in Central and Eastern Europe IAMO Volume 22 Subsistence Agriculture in Central and Eastern Europe: How to Break the Vicious Circle? Edited by Steffen Abele and Klaus Frohberg IAMO 2003 Bibliografische Information Der Deutschen Bibliothek Die Deutsche Bibliothek verzeichnet diese Publikation in der Deutschen Nationalbibliografie; detaillierte bibliografische Daten sind im Internet über http://dnb.ddb.de abrufbar. Bibliographic information published by Die Deutsche Bibliothek Die Deutsche Bibliothek lists the publication in the Deutsche Nationalbibliografie; detailed bibliographic data are available in the internet at: http://dnb.ddb.de. © 2003 Institut für Agrarentwicklung in Mittel- und Osteuropa (IAMO) Theodor-Lieser-Straße 2 062120 Halle (Saale) Tel. 49 (345) 2928-0 Fax 49 (345) 2928-199 e-mail: [email protected] http://www.iamo.de ISSN 1436-221X ISBN 3-9809270-2-4 INTRODUCTION STEFFEN ABELE, KLAUS FROHBERG Subsistence agriculture is probably the least understood and the most neglected type of agriculture. In a globalised, market-driven world, it remains at the same time a myth and a marginal phenomenon. Empirically, subsistence agriculture for a long time seemed to be restricted to developing countries, with only a few cases reported in Western Europe (CAILLAVET and NICHELE 1999; THIEDE 1994). Governmental support offered to subsistence agriculture was mainly done through agricultural development policies, the main objective being to have subsistence farmers participate in markets.
    [Show full text]
  • State Fragility in Lebanon: Proximate Causes and Sources of Resilience
    APRIL 2018 State fragility in Lebanon: Proximate causes and sources of resilience Bilal Malaeb This report is part of an initiative by the International Growth Centre’s Commission on State Fragility, Growth and Development. While every effort has been made to ensure this is an evidence-based report, limited data availability necessitated the use of media reports and other sources. The opinions in this report do not necessarily represent those of the IGC, the Commission, or the institutions to which I belong. Any errors remain my own. Bilal Malaeb University of Oxford and University of Southampton [email protected] About the commission The LSE-Oxford Commission on State Fragility, Growth and Development was launched in March 2017 to guide policy to address state fragility. The commission, established under the auspices of the International Growth Centre, is sponsored by LSE and University of Oxford’s Blavatnik School of Government. It is funded from the LSE KEI Fund and the British Academy’s Sustainable Development Programme through the Global Challenges Research Fund. Cover photo: Fogline Studio/Getty 2 State fragility in Lebanon: Proximate causes and sources of resilience Contents Introduction 4 State (il)legitimacy 9 Ineffective state with limited capacity 15 The private sector: A source of resilience 22 Security 26 Resilience 29 Conclusion and policy recommendations 30 References 36 3 State fragility in Lebanon: Proximate causes and sources of resilience Introduction Lebanon is an Arab-Mediterranean country that has endured a turbulent past and continues to suffer its consequences. The country enjoys a strong private sector and resilient communities.
    [Show full text]
  • Oecd Development Centre
    OECD DEVELOPMENT CENTRE Working Paper No. 147 (Formerly Technical Paper No. 147) CHINA’S UNFINISHED OPEN-ECONOMY REFORMS: LIBERALISATION OF SERVICES by Kiichiro Fukasaku, Yu Ma and Qiumei Yang Research programme on: Reform and Growth of Large Developing Countries March 1999 CD/DOC(99)4 TABLE OF CONTENTS ACKNOWLEDGEMENTS ........................................................................................ 3 RÉSUMÉ .................................................................................................................. 4 SUMMARY ............................................................................................................... 4 PREFACE ................................................................................................................ 6 I. INTRODUCTION............................................................................................... 7 II. OPENING UP THE SERVICE MARKETS ........................................................ 11 III. POLITICAL ECONOMY OF LIBERALISATION OF SERVICES ....................... 17 IV. CONCLUDING REMARKS ............................................................................... 23 ANNEX: OPEN-ECONOMY REFORMS SINCE 1994 ............................................. 25 NOTES AND REFERENCES ................................................................................... 32 BIBLIOGRAPHY ...................................................................................................... 35 ANNEX TABLE 1. REGULATIONS ON THE OPENING-UP OF THE SERVICES SECTOR IN
    [Show full text]
  • A General Equilibrium Model for Analyzing African Rural Subsistence Economies and an African Green Revolution
    AFRICA GROWTH INITIATIVE WORKING PAPER 12 | JUNE 2013 A GenerAl equilibrium model for AnAlyzinG AfricAn rurAl subsistence economies And An AfricAn Green revolution John W. McArthur and Jeffrey D. Sachs John W. McArthur is a senior fellow with the U.N. Foundation and the Fung Global Institute, and a nonresident senior fellow in Global Economy and Development at the Brookings Institution. Jeffrey D. Sachs is director of the Earth Institute at Columbia University. Abstract: How can foreign aid support economic growth in Africa? This paper presents a geographically indexed general equilibrium model that enables green revolution—focused macroeconomic analysis in low-income African settings. The model is flexible to parameterization and highlights the role of farmers’ constraints to self-financing of inputs alongside minimum subsistence consumption requirements. It includes particular attention to the challenge of soil productivity and to the effects of official development assistance (ODA) for agricultural inputs and road building. Uganda is used as an illustrative case. The economy’s labor force is predominantly still located in rural areas and remains overwhelmingly focused on staple food production. Under plausible economy-wide parameters, a foreign- financed green revolution package shows a clear anti-Dutch disease result, in which the temporary boost in tar- geted ODA yields permanent productivity and welfare effects at relatively low cost. Acknowledgements: The corresponding author is John W. McArthur who can be reached at [email protected]. The authors thank Christopher Adam, Mwangi Kimenyi, Oliver Morrissey, John Page, Francis Teal, participants in the Brookings Africa Growth Initiative seminar, and participants in the Oxford Centre for the Study of African Economies annual conference for helpful comments and discussions during various stages of this research.
    [Show full text]
  • A Growth Model of the Data Economy
    A Growth Model of the Data Economy Maryam Farboodi* and Laura Veldkamp October 29, 2020 Abstract The rise of information technology and big data analytics has given rise to \the new econ- omy." But are its economics new? This article constructs a growth model where firms accumulate data, instead of capital. We incorporate three key features of data: 1) Data is a by-product of economic activity; 2) data is information used for prediction, and 3) uncertainty reduction en- hances firm profitability. The model can explain why data-intensive goods or services, like apps, are given away for free, why many new entrants are unprofitable and why some of the biggest firms in the economy profit primarily from selling data. While these transition dynamics differ from those of traditional growth models, the long run features diminishing returns. Just like accumulating capital, accumulating predictive data, by itself, cannot sustain long-run growth. Does the new information economy have new economics? In the information age, production increasingly revolves around information and, specifically, data. Many firms, particuarly the most valuable U.S. firms, are valued primarily for the data they have accumulated. Collection and use of data is as old as book-keeping. But recent innovations in data-intensive prediction technologies (AI) allow us to use more data more efficiently. How will this new data economy evolve? Because data is non-rival, increases productivity and is freely replicable (has returns to scale), current thinking equates data growth with idea or technological growth. This article uses a simple framework to argue that data accumulation has forces of increasing and decreasing returns, as well as returns to specialization.
    [Show full text]
  • API-120: Advanced Macroeconomics for the Open Economy, Fall 2018
    August 1, 2018 + API-120: Advanced Macroeconomics for the Open Economy, Fall 2018 Harvard Kennedy School Course Syllabus: prospectus, outline/schedule and readings Staff: Professor: Jeffrey Frankel Littauer 217. [email protected]. Faculty Assistant: Minoo Ghoreishi Belfer 510A. (617) 384-7329. Teaching Fellow: Thomas Moatti Course Assistants: Munmun Biswas, Maria Lucia Flores and Thebe Tsatsimpe. Times: Lectures: Mondays and Wednesdays, 2:45-4:00 pm, in Starr Auditorium.1 2 Review Sessions: Fridays: 10:15 am in L130; and 11:45 am, in L280. Final exam: Friday, Dec.14, 2:00-5:00 pm. Course Description: This course is the first in the two-course sequence on Macroeconomic Policy in the MPA/ID program. It particularly emphasizes the international dimension. The general perspective is that of developing countries and other small open economies, defined as those for whom the terms of trade are determined on world markets and for whom foreign income, inflation and interest rates can also be taken as given. The focus is on monetary, fiscal, and exchange rate policy, and on the determination of the current account balance, national income, and inflation. Models of devaluation include those where the price of internationally traded goods in terms of non-traded goods is central. A theme is the implications of increased integration of global financial markets. Another is countries’ choice of monetary regime, especially the degree of exchange rate flexibility. There will be applications to the problems of commodity-exporting countries, among other topics. (Such topics as exchange rate overshooting, speculative attacks, and portfolio choice and debt crises will be covered in the first half of API 119.) Nature of the approach: The course is largely built around analytical models.
    [Show full text]
  • Where to Spend the Next Million? Approaches to Addressing Constraints Faced by Developing Countries As They Seek to Benefit from the Gains from Trade
    a “A welcome trend is emerging towards more clinical and thoughtful to Spend the Next Million? Where approaches to addressing constraints faced by developing countries as they seek to benefit from the gains from trade. But this evolving approach brings Where to Spend the Next with it formidable analytical challenges that we have yet to surmount. We need to know more about available options for evaluating Aid for Trade, Million? which interventions yield the highest returns, and whether experiences in one development area can be transplanted to another. These are some of the issues addressed in this excellent volume.” Applying Impact Evaluation to Pascal Lamy, Director-General, World Trade Organization Trade Assistance “Five years into the Aid for Trade project, we still need to learn much more about what works and what does not. Our initiatives offer excellent opportunities to evaluate impacts rigorously. That is the way to better connect aid to results. The collection of essays in this well-timed volume shows that the new approaches to evaluation that we are applying to Assistance Applyng Impact Evaluation to Trade education, poverty, or health programs can also be used to assess the results of policies to promote or assist trade. This book offers a valuable contribution to the drive to ensure value for aid money.” Robert Zoellick, President, The World Bank a THE WORLD BANK ISBN 978-1-907142-39-0 edited by Olivier Cadot, Ana M. Fernandes, Julien Gourdon and Aaditya Mattoo a THE WORLD BANK 9 781907 142390 WHERE TO SPEND THE NEXT MILLION? Where to Spend the Next Million? Applying Impact Evaluation to Trade Assistance Copyright © 2011 by The International Bank for Reconstruction and Development/The World Bank 1818 H Street, NW, Washington, DC 20433, USA ISBN: 978-1-907142-39-0 All rights reserved The findings, interpretations, and conclusions expressed herein are those of the author(s) and do not necessarily reflect the views of the Executive Directors of the International Bank for Reconstruction and Development/The World Bank or the governments they represent.
    [Show full text]