Developing countries have for decades been trying to catch up with the industrialized high-income countries, but only a few have succeeded. However, the successful economic transformation of countries like China and South Korea has forced a change in the way we think about aid and development. No longer are we restricted to the Washington Consensus view whereby aid is developing countries accepting policy prescriptions handed down by the World Bank and IMF. Instead we now see alternative development paradigms emerging, such as the South-South Development Cooperation (SSDC), whereby developing economies help each other to navigate the road toward economic transformation.
Justin Lin, Director of Center for New Structural Economics, Peking University. Previously Chief Economist, World Bank
Comments: Leo Grünfeld, Head of research/ partner Menon Economics
Moderator: Eivind Fjeldstad, NABA
You can download Justin Lin's presentation here.