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Commodities, Governance and Economic Development Under by Machiko Nissanke, George Mavrotas

By Machiko Nissanke, George Mavrotas

Alfred Maizels' paintings on commodity exchange and costs documented developments in a big sector of overseas financial family. This e-book elaborates the guidelines within the culture of Maizels' contributons, and discusses and extends those theories when it comes to present difficulties.

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Extra resources for Commodities, Governance and Economic Development Under Globalization

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Alf had realized that the effect of overseas industrialization on Britain was simply one aspect of the changing economic relations between the industrial countries as a group and the countries whose economies were dominated by producing primary commodities. Eugene Staley had addressed this bigger question – foreshadowing the current debate about the effects of globalization – in an International Labour Organization (ILO) study at the end of the Second World War. He had concluded that: [E]conomic development of new areas brings both opportunities and dangers to existing industrial areas, but it is definitely possible, by policies of mutual cooperation and intelligent adaptation, to make the advantages far outweigh the disadvantages.

In this revision, one may detect two influences. One is Tinbergen’s theory of economic policy, assigning each policy objective an independent policy instrument. The other is the political calculation, of which Maizels persuaded Prebisch, that the stability objective would be the more attractive one for the purpose of gathering the support of consuming countries for commodity regulation. Despite the collapse of the cocoa negotiations, the new strategy paper envisaged the number of international commodity agreements (ICAs) being significantly increased.

Global and Regional Perspectives (New York: Dordrecht). Springer. A. Development Cooperation Forum (2008) Report of the First Development Forum, Economic and Social Council (New York: United Nations). Knack, S. and A. Rahman (2007) ‘Donor Fragmentation and Bureaucratic Quality in Aid Recipients’, Journal of Development Economics, 83, 176–97. Maizels, A. (1992) Commodities in Crisis: The Commodity Crisis of the 1980s and the Political Economy of International Commodity Policies, UNU-WIDER Studies in Development Economics (Oxford: Oxford University Press).

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