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The Scorecard on Development, 1960-2010: Closing the Gap?

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Publication Date: April 2011

Publisher(s): Center for Economic and Policy Research

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Keywords: global development ; scorecard

Type: Report

Abstract:

This paper is the third installment in a series (the first and second editions were in 2001 and 2005) that traces a long-term growth failure in most of the world's countries.

The current report is updated with the latest numbers from the just-released April 2011 IMF World Economic Outlook database.


The Scorecard reports have consistently noted that the long-term growth failure post-1980 has coincided with the widespread implementation of “neoliberal” reforms. Among these were tighter fiscal and monetary policies (including inflation-targeting regimes and increasing independence of central banks); a large reduction in tariffs and non-tariff barriers to trade; financial deregulation and increased opening to international capital flows; privatization of state-owned enterprises; increased protectionism in the area of intellectual property; and the general abandonment of state-led industrialization or development strategies.