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Distilling Economic Literature

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Distilling Economic Literature

Tag: Developing Countries

Economic Thought

Economy not Developing? Check your Spirituality

Dr. Ellen Clardy, July 1, 2021August 10, 2023

A Discussion of “Morality and Spirituality: The missing link for economic development in the 21st century”. Economists postulate that it takes good institutions (laws, regulations, morality, customs) to create the incentives needed to organize your factors of production (capital, labor, etc.) to produce a growing output (GDP per capita). Can…

Economic Thought

Can Ancient Greece Help Developing Economies?

Dr. Ellen Clardy, June 26, 2021August 10, 2023

A Discussion of “Morality, Institutions and the Wealth of Nations: Some Lessons from ancient Greece” When I teach macroeconomics, I know one question the students have is, “Why can’t we use all this economic knowledge to help poor countries grow?” And the answer is, we can, to a point. But,…

Macroeconomics

Why Countries Rich with Resources can be so Poor and How to Prevent It

Dr. Ellen Clardy, October 31, 2020August 10, 2023

A Discussion of “Does Information Break the Political Resource Curse? Experimental Evidence from Mozambique” It seems logical that a country with no resources would be poor, so it seems puzzling when a country rich in resources is poor. However, Armand, Coutts, et al. (2020) note the Resource Curse, defined as…

Macroeconomics

Can Emerging Market Economies Prevent Importing a Financial Crisis?

Dr. Ellen Clardy, June 23, 2020July 25, 2023

A Discussion of “When Do Capital Inflow Surges End in Tears?” Post World War II the “Powers that Be” set about building an economically interdependent global world order, governed by institutions like the IMF, the WTO and the World Bank, with the intention of preventing future global wars. If a war…

Microeconomics

Targeted Beats Universal in Developing Countries

Dr. Ellen Clardy, May 28, 2020July 25, 2023

A Discussion of “Universal Basic Income vs. Targeted Transfers” Universal Basic Income (UBI) is a hot issue— it even played a role in the 2020 Democrat presidential primary as a key feature of Andrew Yang’s platform. I see a lot of political, ethical, and philosophical reasons given for it, but…

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