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Roads to Prosperity

Dani Rodrik

Is free trade always the best policy? Should developing countries open their financial systems? Do foreign-exchange controls serve any useful purpose in our globalized world?

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RECENT COMMENTARIES FEATURED COMMENTARIES MOST READ COMMENTARIES
  • Will China Rule the World?

    Dani Rodrik Series: Roads to Prosperity
    2010-01-12
    Americans and Europeans blithely assume that China will become more like them as its economy develops and its population gets richer. But a world order centered on China will reflect Chinese values rather than Western ones - that is, if China can continue its rapid economic growth and maintain its social cohesion and political unity. ... read
    Comments: 8   Recommended: 1   Read: 12268
  • Making Room for China

    Dani Rodrik Series: Roads to Prosperity
    2009-12-11
    cartoon Currency undervaluation is currently the Chinese government’s main instrument for subsidizing manufacturing and other tradable sectors, and therefore promoting growth through structural change. The massive global current-account imbalances that have resulted are the price that China and the world economy must pay for WTO rules that prohibit direct industrial policies.... read
    Comments: 3   Recommended: 0   Read: 6167
  • The IMF Needs Fresh Thinking on Capital Controls

    Dani Rodrik Series: Roads to Prosperity
    2009-11-11
    The IMF has slapped Brazil's wrist for daring to impose a 2% tax on short-term capital inflows. But such capital controls make a lot of sense, because “hot” inflows make it difficult for financially open economies like Brazil to maintain a competitive currency, depriving them of what is in effect the most potent form of industrial policy imaginable.... read
    Comments: 1   Recommended: 0   Read: 7804
  • The Myth of Rising Protectionism

    Dani Rodrik Series: Roads to Prosperity
    2009-10-12
    cartoon There was a dog that didn’t bark during the financial crisis: the growing protectionist threat. Despite much hue and cry about it, governments have in fact imposed remarkably few trade barriers on imports, and the world economy remains as open as it was before the crisis struck.... read
    Comments: 0   Recommended: 0   Read: 5646
  • The Tobin Tax Lives Again

    Dani Rodrik Series: Roads to Prosperity
    2009-09-11
    In late August, Adair Turner, the head of the UK’s Financial Services Authority, shocked the Anglo-American empire of finance by coming out in support of a Tobin tax – a global tax on financial transactions. Predictably, Adair's proposal was met with a storm of criticism by bankers, which suggests why implementing such a tax would be a very good idea.... read
    Comments: 1   Recommended: 1   Read: 6929
  • Let Finance Skeptics Take Over

    Dani Rodrik Series: Roads to Prosperity
    2009-08-11
    cartoon Federal Reserve Chairman Ben Bernanke’s term ends in January, and President Barack Obama must decide before then: either re-appoint Bernanke or go with someone else. Given Bernanke's complicity in the Alan Greenspan-era Fed's enthrallment with Wall Street, he deserves to be replaced.... read
    Comments: 2   Recommended: 0   Read: 8091
  • Mercantilism Reconsidered

    Dani Rodrik Series: Roads to Prosperity
    2009-07-10
    Adam Smith and his liberal followers decisively won the intellectual battle against mercantilist models of capitalism. But recent history tells a more ambiguous story: growth champions such as Japan in the 1950’s and 1960’s, South Korea from the 1960’s to the 1980’s, and China since the early 1980’s have all had activist governments collaborating closely with large business. ... read
    Comments: 1   Recommended: 0   Read: 9491
  • The Bumpy Road Ahead

    Dani Rodrik Series: Roads to Prosperity
    2009-06-11
    cartoon If stock market and interest-rate spreads are to be believed, the US economy has seen the worst and may be on its way to a slow recovery. But the troubles for the world economy are just starting, and if globalization does not get the fix it needs, economic prospects will be dim for rich and poor countries alike.... read
    Comments: 1   Recommended: 0   Read: 8193
  • A De-Globalized World?

    Dani Rodrik Series: Roads to Prosperity
    2009-05-11
    It may take a few months or a couple of years, but one way or another the US and other advanced economies will eventually recover from today’s crisis. We are, however, likely to find ourselves in a somewhat de-globalized world, in which international trade grows more slowly, external finance declines, and rich countries’ lose their appetite for running large current-account deficits. ... read
    Comments: 1   Recommended: 0   Read: 10504
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AUTHOR INFO

Dani Rodrik, Professor of Political Economy at Harvard University’s John F. Kennedy School of Government, is the first recipient of the Social Science Research Council’s Albert O. Hirschman Prize. His latest book is One Economics, Many Recipes: Globalization, Institutions, and Economic Growth.