Comments on: The budget and the world’s poor http://www.owen.org/blog/2274 Thoughts on development and beyond Tue, 07 Feb 2012 20:50:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Global Development: Views from the Center » Blog Archive » Does Aid Crash during Crises? A Sharper Look http://www.owen.org/blog/2274/comment-page-1#comment-3007 Global Development: Views from the Center » Blog Archive » Does Aid Crash during Crises? A Sharper Look Wed, 13 May 2009 14:38:52 +0000 http://www.owen.org/?p=2274#comment-3007 [...] could fall 13 percent this time around. Of course, history might not repeat itself. Owen Barder reports that the UK has not cut its aid in the new budget, despite a shrinking economy. Here in the U.S., [...] [...] could fall 13 percent this time around. Of course, history might not repeat itself. Owen Barder reports that the UK has not cut its aid in the new budget, despite a shrinking economy. Here in the U.S., [...]

]]> By: Ephems of BLB » Blog Archive » US and UK unemployment: part of a global human tragedy http://www.owen.org/blog/2274/comment-page-1#comment-2952 Ephems of BLB » Blog Archive » US and UK unemployment: part of a global human tragedy Fri, 08 May 2009 13:50:42 +0000 http://www.owen.org/?p=2274#comment-2952 [...] damage to the world’s poorest people in the developing world, especially in Africa.  As Owen Barder writes from Addis Ababa, – Africa is least to blame for the crisis, but may be worst hit. There are [...] [...] damage to the world’s poorest people in the developing world, especially in Africa.  As Owen Barder writes from Addis Ababa, – Africa is least to blame for the crisis, but may be worst hit. There are [...]

]]> By: Joe P http://www.owen.org/blog/2274/comment-page-1#comment-2891 Joe P Sun, 26 Apr 2009 09:45:27 +0000 http://www.owen.org/?p=2274#comment-2891 Richard - that is absolutely correct and one of the reasons Moyo's thesis has been undermined by the economic situation. Uganda wanted to take out a Eurobond before Christmas but the rates were now simply too high to make it viable. Furthermore the G20's boost for the IMF seemed largely aimed at middle-income countries and not those whose trade relationship with the West is still limited. Owen - I can see why the current crisis highlights unbalanced prosperity but surely one of the ways we can take a 'path towards a more balanced and sustainable shared future' is to remove some of the trade barriers between African countries. It is economic madness that only 1/10th of African exports go to other African states. The potential for improved South-South trade is in my view one of the greatest untapped areas for long-term sustainable economic growth on the continent. It is also surely a more sustainable solution than calling for more aid? Richard – that is absolutely correct and one of the reasons Moyo’s thesis has been undermined by the economic situation. Uganda wanted to take out a Eurobond before Christmas but the rates were now simply too high to make it viable. Furthermore the G20′s boost for the IMF seemed largely aimed at middle-income countries and not those whose trade relationship with the West is still limited.

Owen – I can see why the current crisis highlights unbalanced prosperity but surely one of the ways we can take a ‘path towards a more balanced and sustainable shared future’ is to remove some of the trade barriers between African countries. It is economic madness that only 1/10th of African exports go to other African states. The potential for improved South-South trade is in my view one of the greatest untapped areas for long-term sustainable economic growth on the continent. It is also surely a more sustainable solution than calling for more aid?

]]> By: Leopards and spots « From Davos to Seattle http://www.owen.org/blog/2274/comment-page-1#comment-2882 Leopards and spots « From Davos to Seattle Fri, 24 Apr 2009 20:01:23 +0000 http://www.owen.org/?p=2274#comment-2882 [...] falling commodity prices and falling foreign aid. Owen Barder addresses this last point when he notes that while the Wednesday’s budget didn’t cut aid, it didn’t raise it either. [...] [...] falling commodity prices and falling foreign aid. Owen Barder addresses this last point when he notes that while the Wednesday’s budget didn’t cut aid, it didn’t raise it either. [...]

]]> By: Richard Laming http://www.owen.org/blog/2274/comment-page-1#comment-2878 Richard Laming Thu, 23 Apr 2009 17:12:51 +0000 http://www.owen.org/?p=2274#comment-2878 Is there not a fourth point? Not only are poorer countries less able to borrow than richer ones, the fact that richer countries are borrowing more makes poorer ones still less able to borrow. There is greater competition amongst borrowers, and the richer countries might crowd out the poorer ones. There was a similar phenomenon with government guarantees for retail bank deposits: once richer countries started to do this, capital was moved from poorer countries to richer ones. To compensate for this crowding out, the richer countries should increase their aid efforts yet further. Is there not a fourth point? Not only are poorer countries less able to borrow than richer ones, the fact that richer countries are borrowing more makes poorer ones still less able to borrow. There is greater competition amongst borrowers, and the richer countries might crowd out the poorer ones. There was a similar phenomenon with government guarantees for retail bank deposits: once richer countries started to do this, capital was moved from poorer countries to richer ones. To compensate for this crowding out, the richer countries should increase their aid efforts yet further.

]]> By: Ephems of BLB » Blog Archive » The financial crisis: tell the panickers it’s all relative http://www.owen.org/blog/2274/comment-page-1#comment-2876 Ephems of BLB » Blog Archive » The financial crisis: tell the panickers it’s all relative Thu, 23 Apr 2009 16:21:31 +0000 http://www.owen.org/?p=2274#comment-2876 [...] some credit (no pun intended) for resisting strong pressures for cuts in overseas development aid, says development economist Owen Barder[1], but the poorest countries, especially in Africa, with the least responsibility for this [...] [...] some credit (no pun intended) for resisting strong pressures for cuts in overseas development aid, says development economist Owen Barder[1], but the poorest countries, especially in Africa, with the least responsibility for this [...]

]]> By: From Poverty to Power by Duncan Green » Blog Archive » Why the UK held the line on aid spending, despite the recession http://www.owen.org/blog/2274/comment-page-1#comment-2875 From Poverty to Power by Duncan Green » Blog Archive » Why the UK held the line on aid spending, despite the recession Thu, 23 Apr 2009 09:53:28 +0000 http://www.owen.org/?p=2274#comment-2875 [...] Owen Barder thinks the Chancellor didn’t go far enough, but he (Owen, not the Chancellor) lives in [...] [...] Owen Barder thinks the Chancellor didn’t go far enough, but he (Owen, not the Chancellor) lives in [...]

]]> By: Owen http://www.owen.org/blog/2274/comment-page-1#comment-2874 Owen Wed, 22 Apr 2009 16:49:47 +0000 http://www.owen.org/?p=2274#comment-2874 Joe - In one sense you are right. It could have been a lot worse. But it shows how far we have yet to come in overcoming economic nationalism that we are thinking like that. People in developing countries need aid more than ever, for both macroeconomic reasons and for reasons of human need. I think one lesson we need to learn from this crisis is that unbalanced prosperity is not lasting prosperity. The steps we take to get ourselves out of the crisis would be a good place to start on the path towards a more balanced and sustainable shared future. Joe – In one sense you are right. It could have been a lot worse. But it shows how far we have yet to come in overcoming economic nationalism that we are thinking like that. People in developing countries need aid more than ever, for both macroeconomic reasons and for reasons of human need. I think one lesson we need to learn from this crisis is that unbalanced prosperity is not lasting prosperity. The steps we take to get ourselves out of the crisis would be a good place to start on the path towards a more balanced and sustainable shared future.

]]> By: Joe P http://www.owen.org/blog/2274/comment-page-1#comment-2873 Joe P Wed, 22 Apr 2009 14:49:20 +0000 http://www.owen.org/?p=2274#comment-2873 I think in the circumstances with spending slowed elsewhere this was not a bad result at all. Furthermore while Shanta Devarajan's is correct about trade flows, FDI and remittances he doesn't mention that African banks have actually held up well compared to their Western counterparts and that Africa will be one of the few regions which continues to achieve positive economic growth - indeed the African Development Bank predicted that Uganda (where I live) will continue to grow at around 6% (http://www.newvision.co.ug/D/8/12/678596/african%20development%20bank). Instead of calling for more aid I would like to see African countries react to the credit crunch by increasing trade with each other, be it by lowering import taxes or speeding up the process of an African wide FTA, to which 26 nations have already signed up to in principle. I think in the circumstances with spending slowed elsewhere this was not a bad result at all. Furthermore while Shanta Devarajan’s is correct about trade flows, FDI and remittances he doesn’t mention that African banks have actually held up well compared to their Western counterparts and that Africa will be one of the few regions which continues to achieve positive economic growth – indeed the African Development Bank predicted that Uganda (where I live) will continue to grow at around 6% (http://www.newvision.co.ug/D/8/12/678596/african%20development%20bank). Instead of calling for more aid I would like to see African countries react to the credit crunch by increasing trade with each other, be it by lowering import taxes or speeding up the process of an African wide FTA, to which 26 nations have already signed up to in principle.

]]>