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Imagine There's No Country
Poverty, Inequality and Growth in the Era of Globalization
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- Book details for Imagine There's No Country
- Surjit S. Bhalla (author)
- Paperback, 230 x 155 x 14mm , 200 pp, Illustrations
- 30 Sep 2002
- Institute for International Economics,U.S.
- 0881323489
- 9780881323481
Developing country growth rates have accelerated. Instead of the developing world losing out to globalization, it has in fact been growing faster than the industrialized world. These are the conclusions reached in this discussion - debunking the popular myth that the trend towards greater integration of the world economy, which began roughly in the mid-1980s, has resulted in lower overall growth rates for poor countries, increasing world inequality and causing the poverty level to stagnate. The author, Surjit Bhalla, develops a methodological framework to examine the evolution of poverty and inequality in the era of globalization. He critically examines the conventional wisdom, finding that productivity, wages and incomes in the poor countries are catching up with those obtained by comparable individuals in the West. Indeed, absolute poverty has declined sharply; it is estimated to be only 12 per cent of the developing country population. The volume also attempts to explain what makes international organizations produce poverty figures so out of sync with reality.
Surjit Bhalla has since 1986 been Managing Director of Oxus Research and Investments, a New Delhi based asset management and emerging markets advisory firm. He was chief global strategist for emerging markets at Deutsche Bank from 1994-96, and had worked at several other prominent businesses or organization prior to that period, including Goldman Sachs, the World Bank, and the Brookings Institution. He also served as Executive Director of the Policy Group in New Delhi, India from 1986-90. His research has mainly focused on economic development, capital markets, macroeconomic policy, poverty and economic growth. He has published more than 70 articles in books and journals, in addition to some 250 columns in magazines and newspapers.
