On Tue, 8 Jan 2002, Bradford DeLong wrote:
> Robert Wade mentioned:
> > the very slow economic growth in most of the developing world
> > since 1980...
>
> India and China between them are half the developing world, and have
> been growing very fast indeed since the early 1980s.
>
> Mr. Wade has an interesting definition of "most"...
I think what Robert Wade meant -- and should have said -- is "most of the countries in" the developing world. But from a developmental regime point of view, don't you think India and China are gigantic exceptions, in the strong sense of both words? Being gigantic seems to allow them exceptional options and leeway that other developing countries don't have. My impression is that their recent paths, while noticably different from each other, have both deviated considerably from the Washington consensus in terms of capital controls, currency convertibility, privatization, etc. in ways that normal-sized developing countries won't ever be allowed to emulate.
Michael
__________________________________________________________________________ Michael Pollak................New York City..............mpollak at panix.com