Shigeru Thomas Otsubo - Globalization and Development Volume III: In Search of a New Development Paradigm

Globalization and Development is a cross-national study on the interstate dispersion of the impacts (on growth, inequality, and poverty) that international economic integration provides to the economies of the developing countries. In order to present the Leading Issues in Development with Globalization in a balanced manner, to identify differences and commonalities among Country Experiences in development with globalization, and to introduce diversified development paradigms with forward-looking discussions In Search of a New Development Paradigm for the post-MDGs era, this publication consists of three volumes and four main parts.

Volume III () presents the diversified development paradigms such as the GNH (Bhutan), the sufficiency economy (Thailand), the reform and opening up paradigm (China), the African and Latin American paradigms, and the Islamic development paradigm. The concluding chapter presents the evolution of development paradigms in the global development cooperation community after World War II, and then offers a glimpse into new development paradigms for the post-MDG era.

This book intends to serve as a unique and comprehensive guide for those in the international development community on the subjects of diversified development paradigms/paths under globalization and other challenges in the post-MDG era.

Shigeru Thomas Otsubo is Professor of International Development Economics and Director of the Economic Development Policy & Management Program at the Graduate School of International Development (GSID), Nagoya University, Japan. His recent publications include Leading Issues in Development with Globalization, Introduction to International Development Studies: An interdisciplinary approach (2010 JASID Special Award), and numerous journal articles and reports on global economic integration, development cooperation, and on growth, inequality, and poverty reduction. He holds a Ph.D. in Economics and Operations Research (Stanford University, USA).

GLOBALIZATION AND
DEVELOPMENT

Volume III: In search of a
new development paradigm

First published 2016
by Routledge
2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN

and by Routledge
711 Third Avenue, New York, NY 10017

2016 Shigeru Thomas Otsubo

The right of the editor to be identified as the author of the editorial material, and of the authors for their individual chapters, has been asserted in accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988.

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British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library

Library of Congress Cataloging-in-Publication Data
Globalization and development / edited by Shigeru Thomas Otsubo.
Contents: Volume I. Leading issues in development with globalization
Volume II. Country experiences Volume III. In search of a new development paradigm
1.GlobalizationEconomic aspects.2.Economic development.I.Otsubo, Shigeru.
HF1365.G576 2015
338.9dc23 2015002420

ISBN: 978-1-138-93226-5 (hbk)
ISBN: 978-1-138-93227-2 (pbk)
ISBN: 978-1-315-67834-4 (ebk)

Typeset in 10/12.5pt Bembo
by Graphicraft Limited, Hong Kong

PART IV
New development paradigms under globalization

My involvement with international development has evolved, across decades and continents, along with the evolution of globalization. From 1988 to 1993, I worked for the Department of International Economic and Social Affairs at the UN Headquarters in New York as a core member of two projects. One was Project LINK initiated by Prof. Lawrence Klein, a Nobel prize-winning economist. The other project, Global Interdependence was led by Prof. Wassily Leontief, also a Nobel laureate in economics. The Department of International Economic and Social Affairs is known for a division which used to carry out the United Nations Development Decade vision study directed by Prof. Jan Tinbergen. The UN, in those times, was intending to analyze the interdependence of the global macro economy in order to carry out short- to medium-term economic policy simulations of the NorthSouth issues through Project LINK, which connected the macroeconometric models of member countries using the trade flows of goods and services among those nations. At the same time, the UN was attempting to create a vision of long-term global interdependence through the Global Interdependence project, which aimed to forecast the NorthSouth relationship over a longer timeframe, by linking the inputoutput tables of the countries, and adding the stock and flow of natural and environmental resources to them. That was almost two decades after the 1972 publication of the Club of Rome Report, The Limits to Growth by Donella H. Meadows et al., and the new trend in the late 1980s and early 1990s was to emphasize worldwide approaches to global environmental issues, which eventually led to the 1992 Earth Summit in Rio de Janeiro. From the international political perspective, at the beginning of the 1990s the then UN Secretary General had banned any reference to the New International Economic Order (NIEO) in UN official documents and the UN Secretariat memoranda. The rise of resource nationalism that followed the oil crises of the 1970s, as well as the NIEO Declaration which the UN General Assembly adopted in 1974 due to the outstanding SouthSouth issues between oil-producing and non-oil-producing countries, had led to a stronger voice for developing nations while simultaneously encouraging protectionist movements. In line with this trend, the UN Secretariat launched a department to promote policies on globalization and NorthSouth issues and started recruiting in-house staff who were well acquainted with this theme.

In the early 1990s, at times when the General Assembly was not in session, I was often in the field, supporting the Economic Commission for Africa (ECA in Ethiopia) and the Economic and Social Commission for Asia and the Pacific (ESCAP in Thailand). I became involved in the African Alternative Framework to Structural Adjustment Programmes (AAF-SAP) which allowed me to criticize the IMFs and World Banks structural reforms in Africa and to participate in planning alternative policies which better reflected the actual situation of those nations. The African continent was getting further isolated from the global economy after the failure of industrialization caused by unsuccessful structural adjustments. Africa blamed the developed nations for its economic marginalization from the world economy, but I personally believed that Africa itself needed to make more of an effort to integrate itself into the international economy.