POLC38H3 Study Guide - Public Capital

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13 Dec 2010
On Missing the Boat: the marginalization of the Bottom Billion in the World Economy
Globalization helping countries break into global markets for goods and services
other than just primary commodities
They started off with just a primary industry but are now exporting other materials
Manufactures and services offer much better prospects of equitable and rapid
They use labour rather than land which is cheaper
Rich world imposed trade restrictions on the poor world
Rich world started to set up their factories in Asia because of cheap labour
No one invested in Africa even though its rich in resources but the grievances that
occur are unstable to create business
The growth of global trade has been good to Asia
But its a trap that the developed countries have made
Public capital can supply much of the infrastructure that these societies need
But it cannot begin to supply the equipment that workers need in order to be
productive; that can only be supplied by public investors
Africa lacks private investment
Long-term Investment is beneficial
Poor countries not attracting a larger capital inflow because of poor governance and
The economies are also very small
Absorbing information is costly
Poor countries, capital being spent other places other than their own country
Migration has contributed to capital
Skilled workers are leaving the country because they can find higher paying jobs
other places rather than their own countries
Women being trained tend to stay in the country
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