Development Strategy: Balancing Market and Government Failure

Devarajan, Shantayanan; Kanbur, Ravi

doi:10.1093/acprof:oso/9780199671656.003.0005

Cited by 8 publications

(7 citation statements)

References 19 publications

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“…Where this is not possible or offers outcomes that are less desirable or equitable, the government can intervene by providing the services or goods needed. Research and global experience, however, have shown that government intervention also fails to lead to optimal allocation in many cases (Boettke, Coyne & Leeson 2011;Devarajan & Kanbur 2013;Vujovic n.d.). The public sector has failed to redistribute welfare equitably, resulting in economic and social strife, heightened levels of poverty and wide disparities between the rich and poor, even where national income levels are increasing.…”

Section: The Social Economy and Market Failure In The Financial Secto...mentioning

confidence: 99%

Financial inclusion and the poor

Simatele¹

2021

Financial Inclusion: Basic Theories and Empirical Evidence From African Countries

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Peer Review DeclarationThe publisher (AOSIS) endorses the South African 'National Scholarly Book Publishers Forum Best Practice for Peer Review of Scholarly Books'. The manuscript was subjected to rigorous two-step peer review prior to publication, with the identities of the reviewers not revealed to the author(s). The reviewers were independent of the publisher and/ or authors in question. The reviewers commented positively on the scholarly merits of the manuscript and recommended that the manuscript be published. Where the reviewers recommended revision and/or improvements to the manuscript, the authors responded adequately to such recommendations. v Research JustificationFinancial inclusion has been noted as a key driver of poverty alleviation and growth. Yet most of the scholarly work that exists lacks a comprehensive discussion on how the poor interact with financial services and the channels through which such services can affect their livelihoods. This book addresses this gap in scholarship. This is important in creating a substantive understanding of how useful financial inclusion is as a concept and practice. The number of articles written on the determinants and effects of financial inclusion at a broad cross-country level is growing. Yet almost all of this literature assumes the impacts of financial inclusion without paying attention to how these effects are transmitted. An understanding of the transmission mechanisms is fundamental to effective application. Moreover, a rapidly developing discourse in financial inclusion literature is digital finance. Much has been written and is being written about the benefits of digital finance with hardly any discussion of the channels through which such benefits are transmitted. This book discusses the various transmission mechanisms through which not only traditional finance can affect the poor but also how digital finance is transmitted to poverty. Most significantly, the chapter on digital finance provides cross-country evidence for African countries.Moreover, the often-macro perspective in the financial inclusion literature implies that country-specific nuances that can provide critical learning points are often overlooked. This book provides six original empirical case studies of financial inclusion in six African countries. The case studies cover a broad area of topics most important to African countries and highlight the unique African setting. The role of cooperative financial institutions and social entrepreneurship presented in this volume, for example, is hardly researched in Africa and yet is an important vehicle to circumvent the restrictive and exclusive bank-based financial markets unique to Africa. The chapters employ various methodologies depending on the topic being addressed in the chapter. Most of these use quantitative methods. Five chapters are empirical in nature and use inferential statistics, whilst the other two use mixed methods with qualitative data as well as descriptive statistics. This scholarly book offers researchers who focus on f...

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Section: The Social Economy and Market Failure In The Financial Secto...mentioning

confidence: 99%

Financial inclusion and the poor

Simatele¹

2021

Financial Inclusion: Basic Theories and Empirical Evidence From African Countries

View full text Add to dashboard Cite

show abstract

“…New structural economics (NSE) are a voice in the market/state role debate, which provides a certain view on the role of the governments to promote development and enable required technology transfer in the most efficient way, based mostly on the experience of Asian countries (Vučković, 2014;Devarajan & Kanbur, 2013). NSE attempts to integrate structuralism with more traditional neoclassical thinking (Berglof, 2015, p. 116;Fine & Van Waeyenberge, 2013, p. 361, passim).…”

Section: New Structural Economics In Sub-saharan Contextmentioning

confidence: 99%

Structural transformation and economic development in the best performing sub-Saharan African states

Świerczyńska

2017

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Research background: Economic development in sub-Saharan Africa is of paramount importance, yet it escapes most of the attempts to understand it better in the economic dis-course, and it remains a sensitive issue in politics, contradicting stakeholders at national and international levels. The region still lags behind others in terms of technological advancement and economic development. It has grown significantly in the precedent decade, but the extent of growth has not sufficiently translated to its development. Determining strategies for sub-Saharan Africa is a scientific challenge, which requires more attention. In the globalized, interconnected reality, solving problems of the South is in the best interest of the North. Purpose of the article: The aim of this research is to analyze structural changes as factors of economic development in the best performing sub-Saharan African countries on the grounds of new structural economics in order to provide policy implications. Methods: Namibia, Botswana, South Africa and Gabon were selected as best performing economies in the region. Based on the literature review and the analysis of descriptive statis-tics, profiles of sample countries were set. This in turn allowed to determine the potential explanatory variables for OLS model of economic development. In the model, factors relating to labour productivity, technology and structural change were included. The data was sourced from WDI (World Development Indicators) database, Gretl software was used for computations. Findings & Value added: This paper contributes to the literature by attempting to explain structural changes in the process of economic development in the sub-Saharan region on the sample of best performing states. The paradigm of new structural economics provided theo-retical grounds for empirical analysis. Based on the results, policy implications were proposed with respect to technology promotion, natural resources management, and quality of institutions. The research was limited by data availability and reliability.

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“…Governments in some places assume more responsibilities in boosting the economy, while counterparts in other regions choose to withdraw from the markets. How to balance the market and the government has always been a challenging issue for leaders, in face of the existence of varied interests and values of different stakeholders (Devarajan & Kanbur, 2014). Policy issues are often characterized by conflicting values (Thacher & Rein, 2004).…”

Section: Introductionmentioning

confidence: 99%

Competing logics and reform strategies in local reform: A case study of administrative licensing reform in China

Yang

Liang

2022

Asian Politics and Policy

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How to balance the market and the government to promote local economic development and provide sufficient public services has always been a challenging issue for leaders, in face of the existence of varied interests and values of different stakeholders. Conflicting values between the market and the government are directly related to the competing logics between market orientation and bureaucratic/administrative dominance. Since China's transition from the planned economy or government dominance to marketization in 1978, a series of national and local innovations has been launched. Among those reforms, policy entrepreneurs played a critical role. Administrative licensing reform was one of key changes from the planned economy to the marketized economy. Through a local case in administrative licensing reform, this study explores how a policy entrepreneur at local level applied reform strategies to balance conflicting values and constrain the self-interested bureaucracy to achieve the marketization reform.

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Development Strategy: Balancing Market and Government Failure

Cited by 8 publications

References 19 publications

Financial inclusion and the poor

Financial inclusion and the poor

Structural transformation and economic development in the best performing sub-Saharan African states

Competing logics and reform strategies in local reform: A case study of administrative licensing reform in China

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