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Lecture

Development of Low income Countries

3 Pages
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Department
Economics
Course Code
ECO100Y1
Professor
Jack Carr

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March 18, 2009
Big 3 auto have increased labor productivity to about that of the Japanese auto makers
12.3-12.4-Krugman
-Lipskey-EU and US have agreement, proposition, emerging nations will lead the global recovery if
they are not starved for capital, funding
-President of the IMF predicted that in 2009, there will be a decline in GDP in the world, fiscal
stimulus is needed for the advanced economies, the financial system has to be working in order for
recovery, IMF asked for a doubling of its financial ability-250-500B
-If IMF has 500B, then it will be able to meet most short term emergencies, will have more
confidence in restoring growth and success
Krugman-food price spikes, food crisis in 2008 was not dependent upon speculation, it was
dependent on real world forces, will have more spikes in future years for food prices, should create
some mechanism to deal with food spike, should prevent food spikes in developing countries,
develop foreign aid packages to deal with food price spikes, invest in R&D
-drive for biofuel is hurtful for food availability for food products
-much of the land is being converted from agriculture to non-agriculture sector
-unpolluted fresh water, the scarcest resource, demand for water is increasing strongly in the world,
changing diets, higher standard of living, population growth
-this brings security risks for the availability for water, security risks may emerge in Sri lanka,
Columbia, middle east, Haiti
-In some areas, lack of water restricts economic growth, 70% of water use goes to agriculture
-polluted water accounts for 10% of all disease and suffering in the world
-China-Feb trade data-sharpest fall in export levels, last October was 40B, February is 5B
-this should reduce the world pressure for countries to resist import tariffs on Chinese i
-very low trade, some outflows, foreign exchange reserves will b stable, China will not be able to buy
as many US securities as before
-Opec decreased its production by 4.8 million barrels a day, as price falls, in 2009 it is predicted that
there will be a decrease in world demand for oil, 1.4 million a day or 1.6% decrease
-OPEC supplies 40% of world oil
->E}ÀuUE]P]vsv̵o]v[µZ]}µ]}vU^µ]]]
production levels by reducing as a equivalent amount of Nigera and Vene
-Business sector productivity (private not government)-in Canada labor productivity fell by 1.1%, US-
2.7%
Collier-poverty reduction
Dollar
Stern
In 1950-îìììUíõõì[uvÇo}Á]v}u}µv]uu}ul}]vU]Àu
public companies, regulations were reduced in many countries, improved the market performance
of the countries, the prices were right,
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Description
March 18, 2009 Big 3 auto have increased labor productivity to about that of the Japanese auto makers 12.3-12.4-Krugman -Lipskey-EU and US have agreement, proposition, emerging nations will lead the global recovery if they are not starved for capital, funding -President of the IMF predicted that in 2009, there will be a decline in GDP in the world, fiscal stimulus is needed for the advanced economies, the financial system has to be working in order for recovery, IMF asked for a doubling of its financial ability-250-500B -If IMF has 500B, then it will be able to meet most short term emergencies, will have more confidence in restoring growth and success Krugman-food price spikes, food crisis in 2008 was not dependent upon speculation, it was dependent on real world forces, will have more spikes in future years for food prices, should create some mechanism to deal with food spike, should prevent food spikes in developing countries, develop foreign aid packages to deal with food price spikes, invest in R&D -drive for biofuel is hurtful for food availability for food products -much of the land is being converted from agriculture to non-agriculture sector -unpolluted fresh water, the scarcest resource, demand for water is increasing strongly in the world, changing diets, higher standard of living, population growth -this brings security risks for the availability for wa
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