140573 VO+UE Development Economics (2010S)

An increasing body of evidence has identified governance failures as a main cause of poor economic performance and stagnated development and particularly as a major characteristic of developing countries. We might find now, at the center of academic and policy discussions, increasing attention being given to the role of institutions and governance in the promotion of economic growth and development. It is thus expected that developing countries would set up their development agenda being conscious of the existing complex and challenging global environment and of the need to uphold governance. The issues of good governance and effective institutions are fundamentally influencing our views on development. Expected changes are so complex and intense that they would require not only a response to the external environment and existing socioeconomic conditions, but also a new approach to development. This academic course would attempt to provide: first, a synopsis of the theories of economic growth and economic development, with due consideration of the new growth and development theories; and a review of theoretical explanations on inequality and poverty; second, an account of the development role and scope of the international development assistance. Matters of consideration would be the current debate over development assistance: Sachs and the "Big Push" and the "Easterly Critique"; conditionality, as seen by international development institutions and bilateral donors alike, including the World Bank and other donors; and third, discussions on the relevance of good governance, social capital, and corporate social responsibility, as pre-conditions for the attainment of economic development and sustainable growth. The course will thus focus on the route for development; the importance of economic growth; the relevance of good governance and social capital, and the issue of conditionality and business ethics. The course will also provide for a review of project documents, loan agreements, and ODA conditionality for operations financed in Africa and Latin America by a leading multilateral financial institution.