Journal of Globalization and Development 

About: Journal of Globalization and Development is an academic journal published by De Gruyter. The journal publishes majorly in the area(s): Debt & Financial crisis. It has an ISSN identifier of 1948-1837. Over the lifetime, 154 publications have been published receiving 2704 citations. The journal is also known as: Journal of globalization & development.

Aid, Growth, and Development: Have We Come Full Circle?

Abstract: The micro-macro paradox has been revived. Despite broadly positive evaluations at the micro and meso-levels, recent literature doubts the ability of foreign aid to foster economic growth and development. This paper assesses the aid-growth literature and,

Impact of Political Reservations in West Bengal Local Governments on Anti-Poverty Targeting

Abstract: Political reservation for disadvantaged groups is believed to be a way of improving targeting of publicly provided goods to those groups. This paper examines the impact of political reservations for women and scheduled castes and tribe (SC/ST) candidates in local governments in West Bengal, India between 1998-2004 on targeting to landless, low caste and female-headed households. It differs from existing literature by differences in geographic coverage, time span, and use of selfreported household benefits across a broad range of programs. Reservation of chief executive (pradhan) positions in local government for women was associated with a significant worsening of within-village targeting to SC/ST households, and no improvement on any other dimension of targeting. Reservation of pradhan posts for SC/ST members was associated with a significant increase in benefits received by the village as a whole, improvement in intra-village targeting to female-headed households, and to the group (SC or ST) of the pradhan. The effects of women’s reservations are not consistent with simple citizen-candidate or elite capture models of electoral politics. They are consistent with a more complex hypothesis of capture-cum-clientelism which is weakened by election of politically inexperienced women to reserved pradhan posts.

Redemption or Abstinence? Original Sin, Currency Mismatches and Counter-Cyclical Policies in the New Millenium

Abstract: This paper updates our previous work on the level and evolution of original sin. It shows that while the number of countries that issue local-currency debt in international markets has increased in the past decade, this improvement has been quite modest. Although we find that countries have been borrowing at home, thanks to deepening domestic markets, we document that foreign participation in these markets is more limited than what is usually assumed. The paper shows that the recent decline of currency mismatches and the consequent ability to conduct countercyclical macroeconomic policies is due to lower net debt (abstinence) and not to redemption from original sin. We conclude that original sin continues to make financial globalization unattractive and developing countries have opted for abstinence because foreign currency debt is too risky. The promised paradise of financial globalization will need to wait for redemption from original sin.

Rich Consumers and Poor Producers: Quality and Rent Distribution in Global Value Chains

Abstract: Quality standards are rapidly gaining importance as a result of increasingly globalized trade. Rich country quality requirements are said to have detrimental effects on poor producers in developing countries because they would introduce new trade barriers, prevent small and poor producers from participating in high quality supply chains, and allow multinationals to extract rents. We analyze under which conditions the introduction of quality standards in global value chains may benefit poor producers in developing countries, taking explicitly into account key characteristics of these value chains. We investigate the effects of competition and development and discuss a series of policy implications.

Contagion, Liberalization, and the Optimal Structure of Globalization

Abstract: Advocates of capital market liberalization argue that it leads to greater stability: countries faced with a negative shock borrow from the rest of the world, allowing cross-country smoothing There is considerable evidence against this conclusion This paper explores one reason: integration can exacerbate contagion; a failure in one country can more easily spread to others It derives conditions under which such adverse effects overwhelm the putative positive effects It explains how capital controls can be welfare enhancing, reducing the risk of adverse effects from contagion This paper presents an analytic framework within which we can begin to address broader questions of optimal economic architectures