A Framework for Establishing Priorities in a Country Poverty Reduction Strategy

7/28/2019 A Framework for Establishing Priorities in a Country Poverty Reduction Strategy

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ECONOMICS AND RESEARCH DEPARTMENT

ERD WORKING PAPER SERIES NO. 15

Ron Duncan

Steve Pollard

June 2002

Asian Development Bank

A Framework

for Establishing Priorities

in a Country Poverty

Reduction Strategy


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ERD Working Paper No. 15

A FRAMEWORKFOR ESTABLISHING PRIORITIESINA COUNTRY POVERTY REDUCTION STRATEGY

Ron Duncan and Steve Pollard

June 2002

Ron Duncan is Director of the Asia Pacific School of Economics and Management and Executive Director,Nat ional Centre for Development St udies , The Austra lian Na t ional U niversity. S teve Pollard is a Senior

Economist for P overty Reduct ion a t t he Str a t egy and Policy D epartment of the Asian Development B ank.

This paper was presented a t the 1st Asia a nd P acif ic Forum on Poverty: P olicy a nd Inst i tut ional Reforms

for P overty Reduct ion held 5-9 February 2001 at ADB Head qua rters .


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Asian D evelopment B an k

P.O. Box 789

0980 Manila

Philippines

2002 by Asian Development Bank

J une 2002

ISSN 1655-5252

The views expressed in this paper

are those of the author(s) and do not

necessarily reflect the views or policies

of the Asian Development B ank.


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Foreword

The ERD Working Paper Series is a forum for ongoing and recently

completed resear ch an d policy st udies underta ken in the Asia n D evelopment B a nk

or on its behalf. The Series is a quick-disseminat ing, informal publica tion mean t

to stimula te discussion a nd elicit feedback. P a pers published under th is Series

could subsequ ently be r evised for publica tion a s a rt icles in professiona l journa ls

or chapters in books.


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Contents

Abst ra ct vii

I . Int roduct ion 1

I I . P overt y Ana lysis before S t ra t egy D esign 1

I I I . Recent Cha nges in Thinking a bout D evelopment 2

IV. Concept ua l Fra mew ork 9

V. Conclusion 13

References 16


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Abstract

The paper rev i ews t he h i s t o ry and progress o f unders t and i ng o f

development theory over the past 50 years. Development thinking has evolved

from an ear ly paradigm that focused on savings and capi ta l investment to

subsequent a rguments fa voring t he inclusion of huma n capita l, policy, technical

change , and f inal ly to the inclusion o f the ro le o f ins t i tu t ions , and good

governan ce. Secure property rights in th e broadest sense, w hich a re a pplica ble

to all resources and not just land , ar e pa rticularly importa nt t o realize investment

yield. This evolution of development t hought describes a conceptua l fra mework

tha t can guide development pra ct i t ioners in pr ior i t i z ing , sequencing , a nd

characterizing all interventions aimed at reducing poverty.


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I. INTRODUCTION

The Asian D evelopment B a nks (ADB ) P overty Reduction S tra tegy, a pproved by the B oard

in November 1999, calls for the formulat ion of Country Opera tional S tr a tegies on t he

bas is of priorities emerging from poverty a na lyses a nd high-level forums t o be conducted

under the ADB P overty Reduction S tra tegy. The Country Operat ional S tra tegy w i ll provide the

analysis and establish the areas of focus, including policy reforms and sector emphases. It will

also take into account the comparative advantage of ADB and the programs of other agencies

(ADB 1999).

H ow should ADB select priorities for a ssista nce to its developing member count ries, wh ilegiving priority to the poverty reduction objective? Should ADB finance airports, roads, shipping,

a nd other mea ns of improving mar ket a nd service a ccess for t he poor? Or should ADB invest in

health clinics, schools, and other forms of human capital development? Should ADB fund natural

a nd ru ra l development a ctivities, SME development, a nd microfina nce schemes to ra ise the incomes

of th e poor? Accordin g t o St iglitz (1998, 8), t echnical s olutions (to development ) were evident ly

not enough a nd a n economy needs a n inst i tut ional infrast ructure. Wha t ar e inst i tut ions a nd

w hich ones should ha ve priority?

Cert a inly, th ere is need for improving project selection. After a review of projects th a t a re

funded by internat ional agencies and bi lateral donor agencies, the Development Assistance

Commit tee of the OE CD (DAC 2000, 45) concluded: There is very litt le evidence th a t t he projects

have been particularly helpful, or effective, in reducing poverty. Studies of project experiences

have few successes to report . As few as only one in f ive projects combating poverty can be

chara cterized as h ighly ta rgeted a t t he specific issues which in combina tion define the situa tion

of the poor. F ew project intervent ions a re sust a ina ble when donor funding ceases. S uccessful projects

are hard to replicate. How can ADB projects be better grounded within an overall country program,

policy, and institutional framework that will assist in rapidly reducing poverty?

II. POVERTY ANALYSIS BEFORE STRATEGY DESIGN

G overnments a nd donors ha ve increasingly t urned their a t tent ion and act ivi t ies, and insome cases declared a total commitment, to poverty reduction. Some have published manuals (Aho,

La riviere, a nd Ma rt in 1998); guidelines (DAC 2000); st ra tegies (ADB 2000); a nd ha ndbooks (World

Bank 1993) in support of the provision of assistance to reducing poverty. An outcome of all of

this a ct ivi ty ha s been a focus on wha t is now ca l led poverty a na lysis . Such a na lysis is primari ly


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concentr a ted on describing the poor within a society: estimat ing how ma ny t here are; a nd defining

them in t erms of loca tion, occupat ion, gender, age, health , a nd a ccess to assets, ma rkets, a nd public

services. There has been much less emphasis on gaining an understanding of whythey are in

this state and why they have poor access to income-earning assets such as land, and to credit ,

educa t ion, heal th, a nd ma rkets.

However, the situat ion is changing a nd much more att ention is being given to asking wh y

the poor are not participating in economic growth. In many cases, development assistance is dealing

w ith m a ss poverty , i .e., insta nces in wh ich a lar ge proportion of people is in a bsolute poverty or

perilously close to it . In such cases it seems that describing poverty in great detail should not

have high priority; rather, the emphasis should be on understanding the constraints to the people

contr ibuting t o economic growt h. If m ost people a re poor, it is clear th a t t he most importa nt resource

of the economy, i .e., i ts people, is being und erutil ized. I t a lso appears irreleva nt in such ca ses

to be debating whether the focus of development should be on promoting economic growth or on

reducing poverty.

Approa ching development in terms of asking w hy the poor a re not being involved in th egrowth process is a clear break from the a pproa ch tha t dominat ed development a ssista nce in t he

second h a lf of the 20t h centu ry. To understa nd how t hinking a bout development ha s chan ged, i t

is helpful to review briefly t he recent changes t ha t h a ve ta ken pla ce in the w a y t ha t development

theorists and practitioners have approached development assistance.

III. RECENT CHANGES IN THINKING ABOUT DEVELOPMENT

During most of the lat ter ha lf of the 20th centur y, t he domina nt view a mong development

theorists a nd development a ssista nce agencies wa s tha t people a nd countr ies were poor beca use

the countries did not ha ve sufficient capita l. Therefore, it w a s a rgued, the pa th to economic grow th

a nd development w a s to tra nsfer ca pital from the richer count ries. It is only recently t ha t th ere

ha s been a wider understanding t ha t countries lack ca pita l and a re poor because th ey are very

unfriendly pla ces for capita l (both phy sica l and huma n capita l). It is interesting, therefore, to tra ce

how t hinking a bout t he development process has changed over the past 50 yea rs, both in terms

of economic theory a nd in t erms of pra ctice with in development a gencies. How ever, th e cha nge

has been a two-way process, with practical experience being reflected in the development of theory,

a nd t heoretical developments r eflected in changes in the forms of development a ssista nce.

Ea rly ma instream Western idea s about w ha t w as important in the economic growth process

were dominated by what has become known as the Solow-Swan neoclassical model of growth (Solow

1956). B riefly, th is model as sumes a single output , produced using la bor a nd capita l in a consta nt-return s-to-scale technology w ith diminishing, an d eventu a lly exha usted, ma rgina l returns t o each

factor. The model predicts that long-run growth rates of per capita income will equal the (assumed)

exogenous rate of technical progress. Changes in savings rates or government policies will affect

the levels of steady-sta te output a nd ca pital st ock but will ha ve no long-run effect on t he growth


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Section IIIRecent Changes in Thinking about Development

ra te. If a ll countries experience the sa me ra te of exogenous technica l progress, they w ill all converge

to a common growth ra te over t ime. Countries with different sa vings behavior, institut ions, cultura l

norms, government policies, and so on, ma y be expected to ha ve different levels of steady -sta te

income an d different capita lla bor ra tios, but t heir long-run gr owth ra tes w ould a ll be a nchored

to th e common ra te of technica l progress.

Thus, t his model, w hich wa s developed w ith t he industria l countr ies in m ind, placed

emphasis on physical capita l , undifferentiat ed la bor, a nd technica l progress. In ea rly empirical

applications to high-income countries, accumulations of physical capital and labor accounted for

only about 25 percent of historica l growth . The ba lance (residual) wa s a tt ributed t o technical

chan ge. There were ar guments over wh ether th e technical cha nge wa s embodied in th e physica l

capita l or w hether it wa s exogenous, a utonomous, or disembodied.

This theory sa t well with the prevailing a pproach to development a ssistance at a practica l

level, which was that countries were poor because they lacked physical capital to go with their

a bunda nt labor. Therefore, the principa l role of development a ssista nce wa s to tr a nsfer financial

capita l from the richer count ries to the poorer count ries, where it w ould be tra nsformed into physica lcapita l , largely in the form of public infra str ucture. Technical chan ge wa s to a lar ge extent seen

a s being tr a nsferred a s embodied in th e physical capita l . Thus th ere were argument s over the

a ppropriat eness of th e technology t ra nsferred in this w a y. This a pproa ch to development probably

received support from the success of the Ma rsha ll Pla n in t he ra pid recovery of western Eur ope

a fter t he devast a tion of th e Second World Wa r. The Ma rsha ll P lans success wa s essentially seen

as the result of the successful transfer of capital to those countries.

The next ma jor cha nge in t hinking a bout the process of economic grow th can be seen t o

grow out of the work of Becker (1964). Becker argued that all labor was not the same, that i t

wa s differentia ted through educa tion, tra ining, a nd improvements in healt h, an d tha t household

decisions about these investments in labor could be thought of in an economic framework of human

capital. The insights from Beckers household consumption model were soon picked up by the

development a ssista nce agencies in th e form of projects on educa t ion an d hea l th. Only la ter

(Ma nkiw, Romer, an d Weil, 1992) were the idea s capt ured in t he economic growt h li tera tur e by

showing t ha t t he predictions of the neocla ssica l model at tribut e much less importa nce to the residual

if the definition of capital is widened to include human capital .

In the la te 1970s th ere wa s a nother ma jor cha nge in development th inking, which seems

to have grown out of two pieces of empirical research. First, Krueger and Bhagwati s study of

the r a pid growth of the four Ea st Asian Tigers (see Krueger 1978) highlighted t he importa nce

of policy, pa rticularly openness to interna tional t ra de a nd investment . The corolla ry t o their research

w a s tha t t he import su bstitut ion policies tha t ha d been ca rried on by most if not a ll poor count ries

w ere not fa vorable to long-term economic growth .1 There can be ra pid income growt h in t he ear ly

1 The popularit y of import subst itut ion policies ca n be tra ced to the ea rly success of the hea vy indust ry policy

of the former Soviet U nion (an d la ter t he P eoples Republic of Chin a)especially d uring t he 1930s when there

wa s such a sharp contras t between the economic performance of the S oviet Un ion a nd t he Gr eat Depression

experienced in the capitalist countries. It can be traced later to the writings of Prebisch (1950) and Singer

(1950) who saw the need for import subst itut ion s tra tegies to counter wha t t hey sa w as the exploita t ion by

the industrialized countries of the primary-producing poor countries.


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sta ges of a n import substitution st ra tegy a s th e protected firms expand in capturing the domestic

ma rket. However, being interna tionally uncompetitive, when they sa tura te the domestic market,

income growth slows as the protected firms are unable to export.

The second major jolt to development thinking came from the World Bank where an

evaluation of the Banks completed projects showed that many of them were failures, particularly

in the poorest countries in sub-Saharan Africa. The conclusion reachedmost l ikely with the

Kr ueger/B ha gw a ti resear ch in mindwa s tha t t he projects were unsuccessful beca use the policy

environment w a s unfa vorable. Thus developed the concept of the St ructura l Adjustment P rogram

a nd conditionality, w ith t he emphasis on cha nging th e policy regime so tha t countries were more

open to trade and investment, both internally and externally. The focus on getting the prices/

policies right was expanded to include macroeconomic policies (which were the focus of the

In tern a tiona l Moneta ry F und) as w ell as microeconomic policies (more the focus of the World B a nk

a nd t he regiona l banks). Agreement on this a pproa ch to development a ssista nce beca me know n

as the Washington Consensus.

The focus of development a ssista nce on policies wa s reflected in t he economic growth th eoryw ith the d evelopment of th e so-called endogenous grow th models in t he la te 1980s a nd ea rly

1990s. In these models, technical chan ge is endogenous, a n idea tha t a ppea led because it could

help expla in how count ries could keep grow ing a t fa ster ra tes over long periods, rat her th a n moving

towa rd some stat ic growth ra te a s in the neoclassical model. An a lternat ive to expanding t he ca pita l

stock in the neoclassical model is to assume th a t t here are externa lities to ca pital t ha t can spill

over t o the whole economy, a nd increasing retu rns t o sca le such a s thr ough lea rning by d oing

(Romer 1986, Lucas 1988) or research and development (Romer 1990). For example, in the

differentia ted-inputs m odel of Romer (1990) a nd G rossma n a nd H elpma n (1991), growt h is fa ster

the larger the scale of the research and development sector. Another implication of external effects

and increasing-returns models is that these effects justify government intervention, and such

permanent changes in government policy can have permanent effects on the growth rate.

While the focus on the policy environment dominated development assistance efforts in

the 1980s and 1990s, chan ges in th e para digm w ere under w a y, st emming from Norths (1990)

and North and Thomass (1973) early focus on the important institutions of an economy. Norths

w ork ha s been given a more practical fla vor wit h t he w ritings of Olson (1996, 2000) a nd d e Soto

(2000). The key idea of this w ork is th a t of t he overriding import a nce for economic growt h of th e

basic institut ionspublic a nd private; forma l a nd informa l; a nd economic, social , a nd politica l

that determine how an economy funct ions. In this l i terature, inst i tut ions have a part icular

definition, distinct from the common use tha t is indistinguisha ble from orga nizat ions. Ha ggar d

(1999, 30) describes the difference as follows:

Institutions refer to the formal and informal rules and enforcement mechanisms

that influence the behavior of organizations and individuals in society. They include

constitut ions, law s an d regula tions, a nd contr a cts, as w ell as tr ust, informa l rules

a nd socia l norms. Orga nizat ions a re collective socia l a ctors, usua lly chara cterized


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by hierarchica l pat t erns o f in terna l a uthor ity , tha t pursue common in teres ts .

Orga niza tions operat ing in th e public sphere include government bur eaucra cies,

legislatures, political parties, unions, interest groups, NGOs, and even firms in their

political capacities.

In particular, de Soto (2000, 210-1) has shown that getting the policies right (the focus

of the Structural Adjustment Programs) will be ineffective unless the institutions essential to the

par ticipat ion of a ll of a n economys income-earn ing a ssets (land , labor, capita l, an d na tur a l resources)

are in place. Referring mainly to land and other forms of fixed capital , he says:

... Most people cann ot part icipat e in a n expa nded ma rket beca use they do not ha ve

a ccess to a lega l property r ights system tha t represents their assets in a ma nner

t h a t m a k es t h e m w i d el y t r a n s f er a b l e a n d f u n g ib le , t h a t a l l ow s t h e m t o b e

encumbered a nd permits t heir own ers to be held account a ble. So long a s th e assets

of the majority a re not properly documented a nd t ra cked by a property bureaucracy,they are invisible and sterile in the marketplace.

Inst itutions ar e essentially th e sets of rules tha t govern how a society behaves in part icular

a reas of activity. As North (1990) describes them, t hey ra nge from ta boos, customs, an d tr a ditions

in wh a t a re called tr a ditiona l societies, to forma l, writt en constitut ions a nd la ws governing economic,

political , and social behavior in a more modern society. Institutions may be formalsuch as a

const itut ion or tra ffic law sor t hey ma y be informa l, such as volunta ry codes of conduct of business

or social gr oups. The set of rules ma king up a n inst itut ion defines t he incentives to w hich people

w ill respond. According t o Nort h (1990) a nd H a ya mi a nd R utt a n (1971), institu tions chan ge a s

the t ra nsa ction costs of behaving in certa in wa ys chan ge. Tra nsa ction costs can be seen to change

a s economies develop a nd t echnologies improve, a nd a s political a nd s ocial forces with in a society

chan ge. So, for exa mple, reductions in tra nsport costsof informat ion or goodscan ma ke cert a in

behaviors more or less costly, a nd t herefore lead t o a n ew form of institut ion. Or increased t rust

betw een individua ls a nd gr oups not only ca n improve socia l cohesion but a lso lower th e costs of

transact ing contracts .

North emphasized the cost of information in the development of institutions. The provision

a nd communicat ion of informa tion is required to measur e the a tt ributes of a good or service in

economic excha nge a nd t o define and protect th e rights t ha t a re excha nged. The more costly a re

the excha nge an d its enforcement, the higher a re the tr a nsa ction costs, a nd t he less l ikely is the

institution to exist or to be effective.

North (1990), Olson (1996), a nd de S oto (2000) ha ve st ressed t he overridin g import a nceof property rights and contract enforcement in economic growth. Well-defined and secure property

rights a nd impart ial enforcement of contra cts betw een par ties are th e basis for a ma rket economy.

If individua l rights t o factors (lan d, labor, or ca pita l) a re ill-defined in legisla tion an d a ll contra cts

ma de between par ties to an economic excha nge ar e not impart ially enforced by the judicial syst em



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and therefore both property r ights and contracts are free from discret ionary intervention by

politicians and bureaucratsthen the costs of transactions and the costs of transformation in

production w ill make economic activity infeasible or h ighly sub-optima l. In such circumst a nces,

people w ill be relucta nt to invest in fixed as sets. The only businesses tha t w ill exist w ill be th ose

tha t a re footloose, i .e., easily sh ifted to a nother loca tion. Or priva te economic activity w ill only

be underta ken with s ome kind of government gua ra ntee (such as joint ventur es with government,

w here the government will likely bear the business r isks involved; or w here higher profits to cover

the high tra nsa ction a nd tr a nsformat ion costs a re assur ed, such a s thr ough some form of import

protection). In such circumsta nces t he economic activity ma y be la rgely i l lega l a nd s ma ll-scale,

a nd br ibery of government officials freq uent, a s de S oto (1989) has shown. P eople will also be

unw illing to invest in education, or will only do so if they ha ve prospects of moving to a nother

country where they will be able to earn and retain an income that justifies their investment.

Olson (1996) and de Soto (2000) explain the large and growing gap in incomes between

the rich count ries an d th ose poor countries wh ere incomes ha ve grow n very slowly, i f a t a ll , as

largely due to the absence of these basic institutions, not to the lack of capital , some inherentdeficiency in w ork ethic, or some cultura lly determined beha vior. P rior to its brea k-up th e former

Soviet Union had the highest per capita level of education in the world, as measured in terms

of the level of schooling reached, a nd t he highest per capita level of plant a nd ma chinery. B ut i t

remained a poor country. Wha t i t lacked w as the inst i tut ions t ha t al low entrepreneurship and

innovat ion t o flourish t hrough effective economic tra nsforma tion a nd exchan ge.

Olson (1996) demonstra tes th e critical importa nce of secure propert y right s a nd impa rt ial

enforcement of contra cts. He point s out th a t i f t he key missing ingredient for development w a s

capita l , then th e mar gina l productivity of ca pital w ould be higher in poor countries tha n in rich

countries, and private capital would be trying to move from rich to poor countries. In fact, the

movement is st rongly in the other direction as w e see from estimat es of ca pita l flight. S imilarly,

Olson argues that inst i tut ions in the rich countries must be the missing ingredient when an

individual can migrate from a poor country to a high-income country and soon thereafter earn

an income tha t is man y t imes higher tha n in their home country an d a s high as or higher tha n

the average income in the host country. The plane fl ight does not change migrants skills and

willingness to work a s much a s it places them in a more friendly environment for their labor a nd

capita l (no doubt w ha t a pplies to labor an d capita l also a pplies to technology).

De Soto (2000) has dramatically highlighted the lack of an effective system of private

entitlement to lan d a nd other income-earn ing a ssets in poor countries and how t his inhibits the

development of economic activity, pa rticularly thr ough inhibiting the creat ion of capita l by t he

poor. He estimates that the total value of land and other assets owned by the poor in developing

count ries is around U S$9.3 tril l ion, man y t imes the va lue of foreign a id or foreign investment.Yet, with out the possibility of efficient tr a nsfer of these assets, or th e abili ty t o use these assets

a s collat era l in order t o raise capita l (securitiza tion), the a ssets ha ve litt le income-genera ting power.

Only w here there is an effective system of property la w can t he value of la nd or other as sets be

properly esta blished; can t hey be easily bought a nd sold; or can they become collat eral so tha t


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the wealth can be mobilized in investment capital. Without such property rights, and the possibility

of securitization of assets, there can never be an effective capital market.

The single most import a nt source of funds for new businesses in the U nited St a tes

is a mortgage on the entrepreneurs house.

By contras t ,

The poor inhabi tants o f these nat ions [Third World and former communis t

count ries]five-sixths of huma nitydo have t hings, but they lack t he process to

represent their property and create capital. They have houses but not titles; crops

but n ot d eeds; businesses but not st a tut es of incorpora tion. It is t he una vaila bili ty

of these essential representa tions tha t expla ins wh y people wh o have a dopted every

other Western invent ion, from th e paper clip to th e nuclea r rea ctor, hav e not been

able to produce sufficient capital to make their domestic capitalism work (de Soto2000, 6-7).

Aron (2000, 105) sums up the institutional constraints in poor countries as follows:

When inst itutions a re poorly defined or there a re few forma l institut ions, economic

activities are restricted to interpersonal exchanges. In such cases, repeat activities

a nd cultur a l homogeneity fa cilita te self-enforcement. Tra nsa ction costs ma y be low

in such an environment, but transformation costs are high because the economy

operates at a very low level of specialization. Economic exchange also could operate

a t one remove, via social netw orks, but contra cts a re sti l l constra ined by kinship

ties. It is clear, however, tha t firms or agents in a n environment of weak institut ions

cann ot enga ge in complex, long-term, a nd m ultiple-cont ra ct excha nges w ith effective

enforcement as they do in industrial economies. A basic structure of property rights

tha t encoura ges long-term contra cting appears essentia l for the creat ion of capita l

markets and growt h .

While there ar e man y count ries wh ere the poor ow n a ssets but ha ve no excisable property

rights, t here ar e circumsta nces where the poor do not ha ve an y a ccess to potent ial income-ear ning

assets such as land or even education. In these latter circumstances there has to be some form

of asset redistribution or asset creation.

I t i s not easy for a country to make the substant i a l changes in ins t i tu t ions or asse tredistribution necessa ry t o allow the poor t o pa rt icipat e in economic growt h a nd development.

The new institutions and land redistribution that established a basis for rapid income growth

in J a pan ; Republic of Korea ; an d Ta ipei,China w a s imposed by externa l forces. In P eoples Republic

of China a nd Viet Na m, wh ich experienced revolutions in a gricultur a l productivity th rough the



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changeover from collectivization to individual land rights (leasehold) and the liberalization of

a gricul tural ma rkets, the tra nsforma tions in inst i tut ions were introduced internal ly but w ere

exceptiona l in their brea dth a nd speed. As North a nd Olson ha ve argued, changing t he sta tusquo

ma y be very difficult or even impossible without such dra ma tic intervention, because the vested int erests

benefiting from the existing situation usually hold political power and therefore have no interest

in chan ge. The importa nt q uestion therefore is how t o stimula te chan ge in such circumsta nces.

The 1990s ha s seen a lar ge degree of a tt ention given by the d evelopment community to

governa nce. This focus grew out of the concerns of the World Ba nk a nd bila tera l donors w ith

corrupt ion in t he government s of borrowing count ries a nd t he desire by nonpolitica l organiza tions

like th e World Ba nk t o be publicly critical a bout corrupt ion. As interest in governa nce has grown,

the scope of its definition has broadened. Early on, concerns about governance were mainly focused

on the a ccounta bility a nd t ra nspar ency of government a nd t he politica l process, a nd t he effectiveness

of the governments fisca l a nd monetar y policies.

Following Burki and Perry (1998), Haggard (1999) defines governance as the design of

institu tions an d organ izat ions for making a nd implement ing collective decisions. B roadening t hefocus of governa nce from wh a t ma y be thought of a s good government to include the esta blishment

a nd opera tion of the basic institut ions for th e operat ion of an economy m a y be helpful in the sense

tha t it places emphasis on these ba sic inst itut ions. H owever, if the concept of governa nce becomes

so all embra cing it ma y be less helpful. It ma y be more useful to keep good government issues

sepa ra te, w hile recognizing tha t the form of institutions will ha ve an impact on th e effectiveness

of government.

Economic theorists a re incorporat ing t he role of inst itut ions w ithin the economic theory

of growt h a nd t here is burgeoning empirical research on the relat ionship between institu tional

development a nd economic growt h (see Aron 2000 for a review). Development a gencies are beginning

to focus on institutional issues. But there is not yet a full commitment to the conclusions that

a re implicit in de Sotos w ork. In other w ords, i f ba sic institut ions for the creat ion of ca pital a nd

full part icipation of the w hole society in economic a ctivity a re not in pla ce, neither investment s

in infrastructure, education, health; nor economic reforms; nor public sector reforms will be effective,

and will likely only increase income inequalityfavoring those who already have access to factor

ma rkets. B uilding roads a nd bridges or underta king agricultural research w ill not increase incomes

a s much a s th ey could if people do not ha ve secure property rights t o fa rm la nd. E ducat ion a nd

health improvement projects will not promote income growth for the poor unless there is the

generat ion o f capi ta l wi th which the heal th ier and bet ter-educated l abor force can work.

Privatization of public enterprises will be less than fully effective if there are no secure property

rights t o land a nd enforcement of contr acts. L a ying off public officials w ith r edundan cy packages

could ma ke them the new ent repreneurial class but th ey will not if they can not ga in secure accessto la nd a nd ra ise a dditional ca pital th rough securitization of their assets. Tra de and investment

policy reform will see disappointing results in the form of supply responses unless there is security

of property r ights a nd contr a cts and capita l markets a re developed so tha t tr a ders ca n ra ise capita l

and hedge their commodity and currency risks.


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10

INSTITUTIONSECONOMY GOAL POLICY TIME

NO GROWTH

GROWTH

Judiciary

Accounting

Standards

Codes of Conduct

Constitutional

Electoral

Media, NGOs,Police, Community

Land

Labor

Capital

Technology

Information

Price

Wage

Education

Health

Gender

Investment

Trade

Competition

Civil and Social Order

Good Governance

Contract

and Institutional

Rules and Regulations

Poverty Reduction

Medium Term /

Long Term

Pro-poor Growth and

Poverty Intervention

Pro-poor Investment

Effective Markets

Short Term

Monetary

Fiscal

Figure 1: Conceptual Framework


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11

in which most in society participate, are likely to have constraints at the bottom of the figure.

Working from the bottom of the figure to the top we see that without civil order there

can be no economic development. Where civil and social order has not been established, it is likely

that only intervention in the form of humanitarian aid can be helpful . Efforts to implement

infra str ucture or oth er investment projects in count ries wh ere a st a ble environment of civil order

ha s not been esta blisheda s in severa l sub-Sa ha ra n Africa count ries over recent yea rshas y ielded

a frustrating history of stop-start development assistance, with total failure of the assistance as

the usual outcome. Important institutions that have to be in place for the maintenance of civil

a nd social order a re th e police an d t he judicia ry. As w ell, self-policing by t he commu nity in th e

sense that there needs to be a degree of trust and concern for othersis also important in the

ma intena nce of civil order. A constitut ion a nd a body of common la w or custom w ill also be necessa ry

to codify the rights of members of the society.

The next building block that has to be put into place comprises the institutions that form

the ba sis for a ma rket economy, i .e., property right s a nd impa rtia l enforcement of contra cts, as

w ell as informa l institut ions such a s codes of conduct. F or these institu tions to be effective, th ejudicial sy stem w ill have to be w orking effectively, in part icular wit hout intervention by politicians

or the bureau cracy. Trust w ithin t he society is a lso a n import a nt ingr edient in t he effective w orkings

of property law a nd contr a cts. If there is no substa ntia l degree of trust between part ies involved

in contracts , the load on the judiciary in resolving contract disputes wi l l make the system

unworkable, i .e., the transaction costs will be too high for the institution to function.

The next bu ilding block is good governa nce. If th e broader d efinition of governa nce were

a dopted, i.e., to include institut ions a nd organ izat ions a s w ell as good government ma tt ers, there

would be a single governa nce block. As sa id earlier, i t is a good idea t o separ a te institu tions an d

governa nce as a separa tion forces a focus on t he basic institut ions necessa ry for a ma rket economy

to function w ell. To hav e good governa nce, there needs t o be political st a bility. This st a bility w ill

depend on the effectiveness of the electoral system and the constitution, as well as checks and

bala nces tha t opera te through th e media a nd community gr oups, and perha ps supra-government

or supra-par l i amentary bodies that have power to moni tor government behavior (such as

a dministrat ive tribuna ls and a n ombudsman). The ma in policies tha t w ill be affected by t he sta te

of governa nce are fiscal a nd moneta ry policy. These policies in turn w ill determine exchan ge ra te

policy and the inflation rate.

I f they are not already in place, establ ishing civi l and social order, effect ive market

institutions, and good governance will usually take a considerable length of time, and without

these building blocks in place there will be no, or very limited, growth in incomes. Therefore, a

poverty reduction stra tegy w ill ha ve to give prior a tt ention to w ha t ma y be done in the short t o

medium term t ha t may assist in bringing about desirable cha nges. To gain a n understa nding ofa ny shortcomings in t hese area s, i t w ill likely be necessary to underta ke detailed cultura l , socia l ,

a nd pol i t i ca l econom y s t ud i es t o ga i n t he r equ i red i n form a t i on a bou t t he soc ie t y be fo re

recommending a ny a ction. One issue tha t w ill be import a nt in bringing a bout cha nge will be to

find ways to promote widespread ownership of desirable reforms.

Section IVConceptual Framework


18/30


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13

Moreover, openness to trade and investment wi l l serve as an effect ive means of preventing

monopolist ic behavior by f i rms. However, there may st i l l need to be legislat ion outlawing

a nticompetitive beha vior. C ompetition policy should a lso provide for competitive a ccess to n a tur a l

monopolies in essential services such as power, water, and transport.

V. CONCLUSION

After more than four decades of development assistance and nearly 20 years of concentrated

effort by int erna tional development a gencies an d individua l country donors in encoura ging economic

reforms in developing count ries, the limits t o development a ssista nce hav e become much clearer.

We now h a ve a much better idea of wha t is a bsolutely necessary for success and w ha t is importa nt

but seconda ry; likewise, we ha ve a much better idea of the appropriate prioritiza tion an d sequencing

of economic reforms and forms of assistance in support of poverty reduction.

It is now abundantly clear that the paradigm that dominated development assistancea ctivities for most of the past 40 year stha t t he ma in constr a int t o economic development w a s

a shortage of capitalwas unhelpful. Capital is scarce in developing countries, but i t is scarce

because the environment is not friendly toward capital , whether private or public capital . The

poor investment environment led some to a rgue in fa vor of direct public sector investment . B ut

it ha s also been lea rned at great cost th a t government a ctivity in production is seldom an a dequa te

substitute for private sector activity. In order to mobilize an economys resources and for a flourishing

private sector to developone that can be a sound basis for raising the needed government

revenueth e basic institut ions of secure propert y right s, impar tia l enforcement of contra cts, an d

internationally accepted codes of commercial conduct have to be in place. In turn, these institutions

depend upon a legal a nd judicial syst em tha t is a llow ed to function with out interference, and a

government a nd bureaucra cy opera ting in a t ra nspar ent, accounta ble, and fully a ccessible ma nner.

Secure property right s a nd impar tia l enforcement of contra cts ar e the basis for a ma rket

exchange economy a nd t hus for a ll privat e sector a ctivity, w hich is now recognized as the engine

of growth a nd the ma in means of doing aw a y wit h a bsolute poverty. B ut security of property rights

and impartial enforcement of contracts, in the broadest sense of the state providing security over

th e income from ones labor, capita l, and la nd, ha s even broa der implica tions. It provides equa lity

of opportu nity for a ll and thu s is protective of the rights of a ll individua ls, regard less of gender,

ethnicity, or religion.

Secure property r ights for labor, ensuring freedom from discrimina t ion, a lso ensures

ma ximum flexibili ty in labor ma rkets. On one hand, firms should not be forced t o pay wa ges tha t

are not in line with the productivity of labor. On the other hand, labor should be rewarded forits productivity a nd provided t he necessa ry scope to realize its potentia l thr ough tra ining. This

approach wil l ensure that real wages are based on productivi ty, which in turn wi l l maintain

competitiveness in international markets.

Section VConclusion


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14

While governments ma y be keen to implement t hese kinds of mea sures, i t is clea r t ha t

there w ill often be resista nce from groups or individuals benefiting from the sta tus quo. If t hese

groups or ind ividuals a re in a politica lly pow erful position, reforms ma y w ell be stifled. The ma jor

issue in these instances is how to bring about change from the status quo.

Dema nd for cha nges to inst itutions a nd policies ca n be fostered by a ctions th a t increase

the va lue to the community of new institut ions a nd policies. In part icular , deman d for more secure

and impartially enforced property rights may be fostered by freeing up trade and investment,

a nd by a ppropriate investment in human a nd physica l ca pital . Freeing up tra de and investment

can ra ise th e implicit renta l value of land a nd futur e income strea ms from labor. Investment in

physica l infrast ructure such a s roads, ports, telecommunications, an d essential services will a lso

ra ise the implicit renta l value of la nd a nd fut ure labor incomes. Investment in a better-educa ted

a nd h ealth ier populat ion w ill do likew ise. Social m obiliza tion thr ough politica l par ties, labor unions,

a nd consumer gr oups can a lso help to bring about cha nge thr ough counterva iling power. While

change will usually be very difficult to achieve, it may be possible to take measures that will ease

the constr a ints in th e short r un. For exa mple, in the short run it ma y be possible to have regula tionsrepea led t ha t l imit informal sector activity a nd t herefore restrict income generat ion by the poor.

Ch a nge in the distribut ion of rights to lan d use ma y be even more difficult to a chieve tha n

change in institut ions. B ut a ccess to la nd ma y ha ve become less importa nt t o improving the sta nda rd

of l iving of people tha n previously. In a n increas ingly knowledge-driven w orld, educa tion ma y

be a more important income-earning asset and increasing access to education may be easier to

achieve than access to land.

These measur es should be seen a s mut ua lly reinforcing. Tra de or investment r eform w ithout

secure propert y right s a nd cont ra cts w ill see litt le response in t he form of outw a rd-orient ed, growt h

enhan cing investment . Similarly, publ ic expenditure on educat ion a nd heal th or on physical

infra structur e will give litt le retur n w ithout t he presence of the inst itutions ba sic to privat e sector

development. On the other hand, public sector reform in the form of public service cutbacks or

privat izat ion of sta te-owned enterprises w ill not promote deman d for better economic instit utions

but w ill only be effective if they a lready exist. Security of contra cts requires a n impar tia l judiciary ,

i.e., free from politica l an d burea ucrat ic intervention. However, security of contra cts a lso requires

w idesprea d tru st t o minimize cont ra ct disputes and t he need for th e courts to intermediat e. Trust

is a n importa nt outcome of the social ca pita l of a count ry. Where the degree of tr ust is poor, contra ct

disputes can be expected to be widespread and the transaction costs of contracts high.

Development a ssista nce agencies ca n help countries move towa rd commitment to these

measures through technical assistance that demonstrates the benefits of better institutions and

policies and pa rticipatory discussion of the pros a nd cons of various measur es and a lterna tives.

Experience has a lso show n t ha t high-level tr a ining of local people is very effective in lea ding t oownership of these grow th enha ncing measur es. For t hose countries wh ere there is no or very

little interest in undertaking th ese measures, such technica l assista nce a nd tra ining may be the

only worthwhile development assistance to provide until there is a change in atti tude of those

in power or of th e larger community. La ck of ownership of reforms will only lead to their fa ilure


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15

a nd often lea ds to unnecessary social ha rdship an d tension, a nd th ereby provides argum ents for

not making similar a t tempts in the future.

If the restrictions preventing the poor from participating fully in economic growth are

removed, moneta ry a nd fiscal policies, an d other policies such a s t ra de a nd investm ent policies,

should be much less discriminat ory in t heir impacts. This removal of restrictions d oes not m ean

that all people will do equally well out of economic growth, as people will have different levels

of access t o asset s. Moreover, th ere will still be a need for t he government thr ough its fiscal policy

to try to ensure equa l a ccess to a ba sic level of essential services a nd t o have in pla ce redistribution

policies tha t pr ovide a sa fety n et for people. The government s capa city t o provide socia l securit y

wil l ul t imately depend on i ts taxat ion base. However, the government does have a degree of

discretion in where it locates public investment. Therefore, it is able to discriminate in favor of

a reas tha t a re disadva nta ged in terms of tra nsport or other infrastructure, education, and hea lth.

How ever, th e extent of discretion is l imited by t he tra de-offs tha t w ill ha ve to be ma de between

promoting ma ximum use of the countrys compara tive adva nta ge and assista nce to disadva nta ged

areas .T h e A D B s a p p r o a c h t o d e s i g n i n g p o v e r t y r e d u c t i o n s t r a t e g i e s s h o u l d b e

derived from t he fullest understa nding of the development process a nd t he a ppropriat e role for

development a ssista nce, realizing tha t u ndersta nding of the process is continua lly improving. It

is desira ble to strive for a greement a mong the government, other multilat eral a gencies, a nd bilat era l

donors on t he best st ra tegy for a chieving inclusive economic grow th. Moreover, in order for a ny

stra tegy t o be effective, there will need to be broa d ownership of the st ra tegy w ithin th e country.

However, i t has to be recognized that i t is unlikely that there will ever be full agreement with

a ny stra tegy, as th ere wi l l alwa ys be room for heal thy debat e.

At some point, how ever, ADB w ill ha ve to decide on t he count ry st ra tegy t ha t i t believes

should be followed and the role tha t i t should play in the stra tegy, an d w ork with t he government

on implementing its a ctivities. Effective implementa tion is often m uch more difficult t ha n t he

design of programs and policies. In large part, effective implementation will depend upon the

effectiveness of the countrys governance and its capacity to undertake and sustain programs.

Ca reful ass essment w ill therefore ha ve to be ma de of the likelihood of success of the program.

In some cases the a ssessment ma y be tha t t he likelihood of success is low a nd t herefore ADB should

restrict i ts a ctivities in the countr y t o technical a ssista nce a nd informat ion dissemination a imed

at improving the environment for future action.

Section VConclusion


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17

P rebisch, R., 1950. Th e Economi c Development of L ati n Ameri ca and it s Prin cipal Problems. United

Nations, New York.

Romer, P.M., 1986. Increasing Returns and Long-run Growth. Journ al of Pol i t i ca l Economy

94(5):1002-37.

, 1990. E ndogenous Technical Ch a nge. J our nal of Pol i t i ca l Economy98(5):S71-S101.

Singer, H ., 1950. The Distr ibution of G a ins betw een In vesting a nd B orrowing Countr ies.American

Econom i c Review40:473-85.

Solow, R. M., 1956. A Contribution to the Theory of Economic Growth. Quart er l y Jour nal of

Economics70:65-94.

St iglitz, J . E., 1998. Towa rds a New P a ra digm for Development: St ra tegies, P olicies, a nd P rocesses.

Paper presented as the 1998 Prebisch Lecture 19 October 1998, UNCTAD, Geneva.

The World Bank, 1993. Pover ty Redu ction H and book. The World B a nk, Wa shington, D .C.

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N o. 1 AS E AN a n d t h e As ia n D ev el op me nt B a n k

Seij i Naya, Apr i l 1982

N o. 2 D e ve lop me nt I s s ue s for t h e D ev el op in g E a s t

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and Internat ional Cooperat ionSeij i Naya and Gr aham Abbott , Apr i l 1982

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N o. 1 3 Th e F u t u re P r o sp ect s f or t h e D e v el op in g

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No. 17 The Phi l ippine Economy: Economic

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Developing Countries: An Application

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J un gsoo Lee, Ju ne 1983

No. 20 New Ev idence on Yields , Fer t i l izer Appl ic a t ion ,

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Wil l iam James and Teresita Rami rez, Jul y 1983

N o. 2 1 In f la t i on a r y E f fe ct s of E xch a n g e R a t e

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Pradumn a B. Rana and J. M alcolm D owling,

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Problems of Asian Developing Countries

Seij i N aya, December 1983N o. 23 C h a n g i ng Tr a d e P a t t e r n s a n d P o li cy I s su es :

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Applying Logit Analysis

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Jenni fer Sour, Mar ch 1984

No. 27 Economic Scene in Asi a and I t s Spec ia l Fea tures

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Ju ngsoo L ee and L utgar da L abios, J anuar y 1985

N o. 29 C a u s e a n d E f f ect i n t he Wor l d S u g a r M a r ke t :

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M .G. Quibr ia, D ecember 1986

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EDRC REPORT SERIES (ER)


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20

I. A li , September 1988

N o. 42 S h i ft i n g R ev ea l ed C om p a r a t i ve Ad v a n t a g e:

Experiences of Asian and Pacific Developing

Countries

P.B. Rana , November 1988

N o. 4 3 Ag r icu lt u r a l P r i ce P o li cy i n As ia :

Issues and Areas of Reforms

I. Al i, N ovember 1988

No. 44 Serv ice Trade and Asi an Developing Economies

M .G. Quibri a, October 1989

No. 45 A Review o f the Economic Analys i s of Power

P rojects in Asia an d I dent i f icat ion of Areasof Improvement


N o. 46 G r o w t h P e r sp ect i ve a n d C h a l le n ge s for As ia :

Areas for Pol icy Review and Research


N o. 47 An Ap pr oa c h t o E s t i ma t i n g t h e P o v er t y

Alleviation Impact of an Agricultural Project

I . Al i , January 1990

N o. 48 E c on om ic G r ow t h P e r for m a n ce of In d on e si a ,

the Phi l ippines, and Thai land:

The Human Resource Dimension

E.M. Perni a, Januar y 1990

N o. 49 F or e ig n E x ch a n g e a n d F is ca l Im p a ct o f a P r o je ct :

A Methodological Fra mework for E st imat ion

I . Al i , Februar y 1990

N o. 5 0 P u b l ic In v es t m en t C r it e r ia : F in a n c ia l

and Economic Internal Rates of ReturnI. Al i , Apr i l 1990

N o. 51 E v a l ua t i on o f Wa t e r S u pp ly P r o je ct s :

An Economic Framework

Arl ene M. Tadl e, Jun e 1990

N o. 5 2 In t e r re la t i on s h ip B e t w e en S h a d o w P r i ce s, P r o je ct

Investment , and Pol icy Reforms:

An Analyt ical Framework


N o. 5 3 I s s ue s in As s es s in g t h e Im p a ct o f P r oje ct

and Sector Adjustment Lending

I. Ali , December 1990

N o. 54 S om e As pe ct s of U r ba n i z a t ion

and the Environment in Southeast Asia

Er nesto M. Pern ia, Jan uar y 1991

N o. 5 5 F i na n c ia l S ect or a n d E c on om i c

Development: A Survey

J un gsoo L ee, September 1991

N o. 56 A Fr a m e w or k f or J u s t if y in g B a n k -As s is t ed

Ed ucat ion Pr ojects in Asia: A Review

of the Socioeconomic Analysis

an d I dent i f icat ion of Areas of Improvement

Eti enne Van De Wall e, Februar y 1992

N o. 57 M ed iu m -t e r m G r o w t h -S t a b i li za t i on

Relationship in Asian Developing Countries

and Some Pol icy Considerat ions

Yun-Hw an Ki m, February 1993

N o. 58 U r b a n i za t i on , P op ul a t ion D is t r ib u t ion ,and Economic Development in Asia

Er nesto M. Pernia, F ebru ary 1993

No. 59 The Need fo r F i sca l Consol ida t ion in Nepal :

The Results of a Simulation

Fil ippo di Maur o and Ronald Antonio But i ong,

Jul y 1993

N o. 6 0 A C om p ut a b l e G e n er a l E q u il ib r iu m M od el

of Nepal

Tim othy Buehrer and Fi l i ppo di M auro,

October 1993

No. 61 The Role o f Government in Expor t Expansion

in the Republic of Korea: A Revisit

Yun-Hw an Ki m, February 1994

N o. 62 R ur a l R ef or m s, S t r uct u ra l C h a n ge ,

and Agricul tural Growth in

the P eoples Republic of China

Bo Lin , August 1994No. 63 Incent ives and Regula t ion for Po llu t ion Abatement

with an Application to Waste Water Treatment

Sudipto Mun dle, U. Shankar,

and Shekhar M ehta, October 1995

N o. 64 S a v i ng Tr a n s it i on s in S o ut h e a s t As ia

Frank H arr i gan, February 1996

N o. 6 5 Tot a l F a c t or P r o du ct i vi t y G r ow t h i n E a s t As ia :

A Critical Survey

Jesus Feli pe, September 1997

N o. 6 6 F or e ig n D ir e ct In ve st m e nt in P a k i st a n :

Pol icy Issues and Operat ional Implicat ions

Ashfaque H. Kh an and Yun-H wan Ki m,

Jul y 1999

N o. 6 7 F i sca l P o li cy , In com e D is t r ib u t ion a n d G r o w t h

Sail esh K. Jh a, N ovember 1999

N o. 1 I n ter na t ion a l R es er ves :

Factors Determining Needs and Adequacy

Evelyn Go, May 1981

N o. 2 D o me st i c S a v i n gs in S el ect e d D e ve lop in g

Asian Countries

Basi l M oore, assisted by

A.H.M. N uru ddin Chowdhury, September 1981

N o. 3 C h a n g es i n C o ns u mp t ion , Im p or t s a n d E x por t s

of Oil Since 1973: A Preliminary Survey of

the Developing Member C ountries

of the Asian Development Bank

Dal H yun K im and Graham Abbot t ,

September 19 81

N o. 4 B y -P a s s e d Ar e a s , R e gi on a l In e q ua l it i es ,and Development Policies in Selected

Southeast Asian Countries

Wil li am J ames, October 1981

No. 5 Asi an Agr i cul ture and Economic Development

Wil l iam J ames, Mar ch 1982

N o. 6 In f la t i on in D ev el op in g M em b er C ou n t r ie s:

An Analysis of Recent Trends

A.H.M. Nurudd in Chowdhury an d

J. Malcolm Dowli ng, Mar ch 1982

N o. 7 I n du st r ia l G r ow t h a n d E m pl oy m en t in

Developing Asian Countries: Issues and

ECONOMIC STAFF PAPERS (ES)

Perspect ives for the Coming Decade

Ul r i ch Hi emenz, Mar ch 1982

No. 8 Pet rodol lar Recyc ling 1973-1980.

Part 1: Regional Adjustments and

the World Economy

Burn ham Campbel l , Apr i l 1982

N o. 9 D e ve lop in g As ia : Th e Im p or t a n ce

of Domestic Policies

Economi cs Offi ce Staff u nder t he dir ection

of Seij i N aya, May 1982

N o. 10 F i na n c ia l D e ve lop me n t a n d H ou s eh ol d

Sa vings: Issues in Domest ic Resource

Mobilization in Asian Developing Countries

Wan-Soon Kim , Jul y 1982No. 11 Indust r i a l Development : Role o f Speci a l ized

Financial Inst i tut ions

Kedar N. Kohli , August 1982

No. 12 Pet rodol lar Recyc ling 1973-1980.

Par t I I : Debt Problems and an Eva lua t ion

of Suggested Remedies

Bur nham Campbell, September 1982

N o. 13 C r e di t Ra t i on i ng , Ru r a l S a v i n gs , a n d F in a n ci a l

Policy in Developing Countries

Wil li am J ames, September 1982

N o. 14 S m a l l a n d M ed iu m -S ca l e M a n u fa c t u ri n g


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Establ ishments in ASEAN Countries:

Perspect ives and Pol icy Issues

M athias Bruch and U lr ich Hi emenz, March 1983

N o. 15 In com e D i s t ri bu t ion a n d E con om i c

Growth in Developing Asian Countries

J. M alcolm Dowli ng and David Soo, Mar ch 1983

N o. 1 6 Lon g -R u n D e bt -S e r vi ci n g C a p a ci t y of

Asian Developing Countries: An Application

of Cri t ical Interest Rate Approach

J un gsoo Lee, Ju ne 1983

N o. 17 E x t er n a l S hock s , E n e r gy P ol icy ,

a nd Ma croeconomic P erforma nce of AsianDeveloping Countries: A Policy Analysis

Wil l iam J ames, Ju ly 1983

N o. 18 Th e Im p a ct of t h e C u r r en t E x ch a n g e R a t e

System on Trade and Inflat ion of Selected

Developing Member Countries

Pradu mna Rana, September 1983

No. 19 Asian Agr i cul ture in Transi t i on : Key Po li cy Issues

Wil li am J ames, September 1983

N o. 2 0 Th e Tr a n s it i on t o a n In d u s tr i a l E con om y

in Monsoon Asia

H arr y T. Oshi ma, October 1983

No. 21 The S igni fi cance o f Of f-Farm Employment

and Incomes in Post-War East Asian Growth

H arry T. Oshima, January 1984

N o. 22 In com e D is t r ib u t ion a n d P ov er t y i n S e le ct e d

Asian Countries

John M alcolm Dowlin g, Jr . , November 1984No. 23 ASEAN Economies and ASEAN Economic

Cooperat ion

N arongchai Akr asanee, N ovember 1984

N o. 2 4 E c on om i c An a l y si s of P o w er P r oje ct s

Ni t in D esai, Januar y 1985

N o. 2 5 E x por t s a n d E c on om i c G r o w t h i n t h e As ia n R e g ion

Pradumn a Rana, Februar y 1985

N o. 2 6 P a t t e r n s of E x t er n a l F i na n c in g of D M C s

E. Go, May 1985

N o. 2 7 In d u st r i a l Te ch n ol og y D e v el op me n t

the Republic of Korea

S.Y. Lo, J ul y 1985

N o. 28 R is k An a l y s is a n d P r o je ct S e l ect i on :

A Review of Practical Issues

J.K . Johnson, August 1985

N o. 29 R ice in In d on e si a : P r i ce P o li cy a n d C o m pa r a t i v e

AdvantageI . Al i , January 1986

N o. 30 E f f ect s of F or e ig n C a p it a l In fl ow s

on Developing Countries of Asia

Ju ngsoo Lee, Pradumna B . Rana,

and Yoshihi ro Iwasaki, Apr i l 1986

N o. 3 1 E c on om i c An a l y si s of t h e E n v ir on m en t a l

Impa cts of Development Pr ojects

John A. Di xon et al. , EAPI,

East-West Center, Au gust 1986

No. 32 Sc ience and Technology fo r Development :

Role of the Bank

Kedar N. Kohl i and I fzal Al i , November 1986

N o. 33 S a t e ll it e R em ot e S en s in g in t h e As ia n

and Paci f ic Region

M ohan Sund ara Ra jan, D ecember 1986

N o. 34 C h a n g es in t h e E x por t P a t t e r n s of As ia n a n d

Pacific Developing Countries: An EmpiricalOverview

Pradumn a B. Rana, January 1987

N o. 35 Ag r icu lt u r a l P r ice P o li cy i n N ep a l

Geral d C. N elson, Mar ch 1987

N o. 36 Im p li ca t i on s of F a l li n g P r im a r y C o mm od it y

Prices for Agricul tural Strategy in the Phi l ippines

If zal Al i, September 1987

N o. 37 D e t er m in i n g I r r ig a t i on C h a r g e s: A F r a m e w or k

Prabhak ar B. Ghat e, October 1987

No. 38 The Role of Fer t i li zer Subsid ies in Agr i cul tura l

P roduction: A Review of Select Is sues

M .G. Quibri a, October 1987

N o. 39 D o me st i c Ad ju s t m en t t o E x t er n a l S h ock s

in Developing Asia

J un gsoo L ee, October 1987

No. 40 Improv ing Domest i c Resource Mobi li za t i on

through Financial Development : Indonesia

Phil ip Er quia ga, November 1987

No. 41 Recent Trends and Issues on Foreign Direct

Investment in Asian and Paci f ic Developing

Countries

P.B. Rana, Mar ch 1988

N o. 4 2 M a n u fa c t ur e d E xp or t s f r om t h e P h i li pp in e s:

A Sector Profile and an Agenda for ReformI. A li , September 1988

N o. 43 A F r a m e w or k for E v a l u a t in g t h e E con om ic

Benefi ts of Power Projects

I . Al i , August 1989

N o. 44 P r o m ot i on of M a n u fa c t u re d E x por t s in P a k i s t a n

Ju ngsoo Lee and Yoshihi ro Iw asaki,

September 19 89

N o. 45 E d u ca t i on a n d La b or M a r ke t s i n In d on e si a :

A Sector Survey

Ernesto M. Perni a and D avid N . Wilson,

September 19 89

N o. 4 6 In d u st r i a l Te ch n ol og y C a p a b i li t ie s

and Policies in Selected ADCs

Hi roshi Kakazu, June 1990

N o. 4 7 D e s ig n in g S t r a t eg ie s a n d P o li ci es

for Managing Structural Change in Asia

I fzal Al i , J une 1990No. 48 The Complet ion o f the S ingle European Commu-

nity Market in 1992: A Tentative Assessment of

i ts Impact on Asian Developing Countries

J.P. Verbi est and M in Tan g, June 1991

N o. 4 9 E c on om ic An a l y si s of In v es t m en t i n P o w e r

Systems

I fzal Al i , J une 1991

N o. 50 E x t er n a l F in a n ce a n d t h e R ol e of M ul t il a t er a l

Financial Inst i tut ions in South Asia:

Changing P a t t erns , Prospect s , a nd Cha l lenges

J un gsoo Lee, November 1991

N o. 51 Th e G en d er a n d P o ve r t y N ex us : I ss u es a n d

P olicies

M .G. Qui bri a, November 1993

No. 52 The Role o f the S t a te in Economic Development :

Theory, the East Asian Experience,

and the Malays i an CaseJason B rown , D ecember 1993

No. 53 The Economic Benef it s o f Po t ab le Water Supply

P rojects to Households in Developing Countries

Dale Whit t in gton and Venkateswar lu Sw arna,

Janu ary 1994

N o. 54 G r o w t h Tr i a n gl es : C on ce pt u a l I s su es

and Operat ional Problems

M in T ang and Myo Thant, February 1994

N o. 5 5 Th e E m er g in g G l ob a l Tr a d i ng E n v i ron m en t

and Developing Asia

Arvin d Panagar i ya, M .G. Quibr i a,

and Nar har i Rao, July 1996

N o. 56 As pe ct s of U r b a n Wa t e r a n d S a n it a t i on i n

the Context of Rapid Urbanizat ion in

Developing Asia

Er nesto M. Pern ia and Stell a LF . Alabastro,

September 19 97N o. 5 7 C h a l le n ge s f or As ia s Tr a d e a n d E n v i ron m en t

Douglas H . Brooks, Jan uar y 1998

No. 58 Economic Analys i s o f Heal th Sector Pro jec t s-

A Review of Issues, Methods, and Approaches

Ramesh Adh ik ari , Paul Gertl er, and

Annel i Lagman, M arch 1999

No. 59 The Asi an Cr i si s : An Al terna te View

Raji v Kum ar and B ibek Debroy, Ju ly 1999

No. 60 Soci a l Consequences of the F inanc ia l Cr i s is in

Asia

Jam es C. Knowl es, Ernesto M . Pern ia, an d

M ary R aceli s, November 1999


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N o. 1 P o ve r t y i n t h e P e op le s R ep ub li c of C h in a :

Recent Developments a nd Scope

for Bank Assistance

K.H. M oinuddin , November 1992

N o. 2 Th e E a s t e r n I s la n d s of Ind on e si a : An O ve r vi ew

of Development Needs and Potent ial

Bri en K . Parkinson, Janu ary 1993

N o. 3 R ur a l I n st it u t ion a l F in a n ce i n B a n g la d es h

and Nepal : Review and Agenda for Reforms

A.H.M.N . Chowdhu ry and M arcel ia C. Garcia,N ovember 1993

N o. 4 F i sca l D ef ici t s a n d C u r re n t Accou n t Imb a l a n ce s

of the South Paci f ic Countries:

A Case Study of Vanuatu

T.K. J ayaram an, December 1993

N o. 5 R e for m s in t h e Tr a n s it i on a l E c on om ie s of As ia

Pradu mna B. Rana, D ecember 1993

N o. 6 E n v ir on m en t a l C h a l le n ge s i n t h e P e op le s R ep ub li c

of China and Scope for Bank Assistance

Eli sabetta Capannel l i and Om kar L . Shrestha,

December 1993

N o. 7 S u st a i na b le D e ve lop me nt E n vir on m en t

and Poverty Nexus

K.F. Jal al , December 1993

N o. 8 I n t er m ed ia t e S e rv ice s a n d E con om ic

Development : The Malaysian Example

Sutanu Behur i a and Rahul Khul lar , M ay 1994N o. 9 I n t er es t R a t e D e re gu la t i on : A B r ie f S u r ve y

of the Pol icy Issues and the Asian Experience

Carl os J. Glower, Jul y 1994

N o. 1 0 S om e As pe ct s o f La n d Ad m in i st r a t i on

in Indonesia: Implicat ions for Bank Operat ions

Sutanu Behur ia, Jul y 1994

No. 11 Demographic and Socioeconomic Determinant s

of Contracept ive Use among Urban Women in

the Melanesian Countries in the South Paci f ic :

A Case Study of Port Vi la Town in Vanuatu

T.K. J ayaraman, Februar y 1995

N o. 12 M a n a g in g D ev el op me nt t h r ou g h

Inst i tut ion Bui lding

H il ton L. Root, October 1995

N o. 13 G r ow t h , S tr u ct u ra l C h a n ge , a n d O pt im a l

Poverty Intervent ions

Shil adi tya Chat terj ee, November 1995

N o. 14 P r i v a t e In v es t m en t a n d Ma c r oe con om ic

Environment in the South Paci f ic Island

Countries: A Cross-Country Analysis

T.K. J ayaram an, October 1996N o. 1 5 Th e R ur a l -U r b a n Tr a n s it i on i n Vi et N a m :

Some Selected Issues

Sudipto Mun dle and Br ian Van Ar kadie,

October 1997

N o. 16 A N ew Ap pr oa c h t o S e t t in g t h e Fu t u r e

Transport Agenda

Roger All port, Geoff K ey, and Char les Melhui sh

Ju ne 1998

N o. 1 7 Ad ju st m en t a n d D i st r ib ut ion :

The Indian Experience

Sudipto M undle and V.B. Tul asidhar , Jun e 1998

No. 18 Tax Reforms in Viet Nam: A Select i ve Analys i s

Sudi pto M und le, December 1998

N o. 19 S u r g es a n d Vol a t il it y o f P r i v a t e C a p it a l F l ow s t o

Asian Developing Countries: Implications

for Mult i lateral Development Banks

Pradu mn a B. Ran a, December 1998No. 20 The Mil lennium Round and the Asi an Economies :

An Introduction

Di li p K. Das, October 1999

N o. 21 O ccu p a t ion a l S eg r eg a t i on a n d t h e G e n d er

E a r n i n g s G a p

Joseph E. Z vegli ch, Jr. an d Yana van der M eul en

Rodgers, December 1999

No. 22 Informat ion Technology : Next Locomot ive of

G r o w t h ?

Di li p K. Das, June 2000

N o. 1 E s t im a t es of t he Tot a l E xt er n a l D eb t of

the Developing Member C ountries of ADB :

1981-1983

I .P. Davi d, September 1984

N o. 2 M ult iv a ria t e S ta t is tica l a n d G ra p hica l

Cla ssification Techniques Applied

to the Problem of Grouping Countries

I .P. David and D.S. Mal i gal ig, Mar ch 1985

N o. 3 G r os s Na t i on a l P r od uct (G N P ) M ea s u re me nt

Issues in South Paci f ic Developing Member

Countries of ADB

S.G. Tiw ari , September 1985

N o. 4 E s t im a t es of C om pa r a b le S a vi ng s in S el ect e d

D M C s

H anant o Sigit, D ecember 1985

N o. 5 K eepin g S a m ple Su rv ey D es ig n

and Analysis Simple

I .P. Davi d, December 1985

N o. 6 E xt er na l D eb t Sit ua t ion in As ia n


I.P. Davi d an d J ungsoo Lee, M arch 1986

N o. 7 S t ud y of G NP M ea s ur em en t I ss ues in t h e

South Pa cif ic Developing Member Countries.

Part I : Exist ing Nat ional Accounts

of SP DMCsAnalysis of Meth odology

and Application of SNA Concepts

P. Hodgk in son, October 1986

N o. 8 S t u dy of G NP M ea s u re me nt I ss ue s i n t h e S ou t h

Pacific Developing Member Countries.

Part II : Factors Affect ing Intercountry

Compara bi li t y o f Per Ca pit a GNP

P. Hodgk in son, October 1986

N o. 9 S u rv ey of t h e E x te rn a l D e bt S it u a t ion

in Asian Developing Countries, 1985

Ju ngsoo Lee and I .P. David , Apri l 1987

N o. 10 A S u r v ey of t h e E x t er n a l D eb t S it u a t i on

in Asian Developing Countries, 1986

Ju ngsoo Lee and I .P. David , Apri l 1988

N o. 11 C h a n g in g P a t t e r n of F in a n c ia l F low s t o As ia n

and Paci f ic Developing Countries

Ju ngsoo Lee and I.P. Davi d, M arch 1989

N o. 1 2 Th e S t a t e of Ag r icu lt u r a l S t a t i st i cs i n

Southeast Asia

I.P. David , Mar ch 1989


in Asian and Pa cif ic Developing C ountries:

1987-1988

Ju ngsoo Lee and I.P. Davi d, J ul y 1989

N o. 14 A S u r ve y of t h e E x t er n a l D eb t S it u a t i on i n

Asian a nd P acific Developing Coun tries: 1988-1989

J un gsoo Lee, Ma y 1990


in Asian and Paci f ic Developing Countrie

s: 1989-1992

M in T ang, June 1991

N o. 1 6 R e ce n t Tr e nd s a n d P r o s pe ct s o f E xt e r na l D e b t

Si tuat ion and Financial Flows to Asian

and Paci f ic Developing Countries

Mi n Tang and Alu dia Pardo, June 1992

N o. 17 P u r c ha s i n g P o w e r P a r i t y i n As ia n D e v el op in g

Countries: A Co-Integration Test

Mi n Tang and Ronald Q. But iong, Apr i l 1994

N o. 1 8 C a p it a l F l ow s t o As ia n a n d P a ci fi c D e ve lop in g

Countries: Recent Trends and Future Prospects

M in T ang and J ames Vil lafu ert e, October 1995

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9 . C or p or a t e G ov er n a n ce a n d F i na n c e i n E a s t As ia :

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SPECIAL STUDIES, ADB (SS, ADB)

(Published in-house; Available commercially through ADB Office of External Relations)

1. Improv ing Domest ic Resource Mobi li za t i on Through

Finan cial Development : Overview September 1985


Financial Development : Bangladesh Jul y 1986


Financial Development : Sri Lanka Apr i l 1987


Financial Development : India December 19875 . F i na n c in g P u b li c S ect o r D e ve lop m en t E x pe n di t ur e

in Selected Countries: Overview Januar y 1988

6 . S t u d y of S e le ct e d In d us t r ie s: A B r i ef R e por t

Apr i l 1988

7 . F i na n c in g P u b li c S ect o r D e ve lop m en t E x pe n di t ur e

in Selected Countries: Bangladesh Ju ne 1988


in Selected Countries: India Ju ne 1988


in Selected Countries: Indonesia Ju ne 1988

10. F inanc ing P ubli c Sec tor Development Expendi ture

in Selected Countries: Nepal Ju ne 1988


in Selected Countries: Pakistan Ju ne 1988


in Selected Countries: Philippines Ju ne 1988

13. F inanc ing P ubli c Sec tor Development Expendi turein Selected Countries: Thailand Ju ne 1988

14. Towards Regiona l Coopera t ion in South Asi a :

ADB/EWC Sy mposium on Regiona l Cooperat ion

in South Asia Febru ary 1988

Documents

A Framework for Establishing Priorities in a Country Poverty Reduction Strategy