The concepts of formal and informal remain central to the theory and practice of development more than half a century after they were introduced into the debate. They help structure the way that statistical services collect data on the economies of developing countries, the development of theoretical and empirical analysis, and, most important, the formulation and implementation of policy. This volume brings together a significant new collection of studies on formality and informality in developing countries. The volume is multidisciplinary in nature, with contributions from anthropologists, economists, sociologists, and political scientists. It contains contributions from among the very best analysts in development studies. Between them the chapters argue for moving beyond the formal-informal dichotomy. Useful as it has proven to be, a more nuanced approach is needed in light of conceptual and empirical advances, and in light of the policy failures brought about by a characterization of the 'informal' as 'disorganized'. The wealth of empirical information in these studies, and in the literature more widely, can be used to develop guiding principles for intervention that are based on ground level reality.

Building on the award-winning "Governing the Commons", this book shows how incentives and institutional arrangements can help or hinder development efforts. Using case studies from a variety of infrastructure projects, including roads, bridges and irrigation, in a wide range of geographical settings from Africa and Asia to South America and beyond, the authors provide criteria for evaluating individual and institutional performance in centralized, decentralized and polycentric institutional contexts.

A dramatic transformation of global power is under way, one only dimly recognized by most Americans. As economics and trade now loom larger than nuclear stockpiles or Cold War ideology, those countries with the fastest growing economies have begun to rewrite the rules of power and influence in the world. These nations are the Big Emerging Markets, and for too long we have failed to recognize their importance. We can no longer afford that luxury. The Big Ten is the essential guide to the ten most important Big Emerging Markets. Jeffrey E. Garten, the Dean of the Yale School of Management and the former Under Secretary of Commerce for International Trade, explains who they are, why they have burst onto the world scene, and how they will reshape the world in the twenty-first century. The ten countries to watch are spread across the globe: Mexico, Brazil, and Argentina in the Americas; China, India, Indonesia, and South Korea in Asia; Poland and Turkey in Europe; and in Africa, South Africa. The Big Ten are bigger than most people realize: they are home to half the world's population, and the United States exports more products to these countries than to Europe and Japan combined. They also wield immense political influence in many of the world's most critical regions. Moreover, American industrial firms, mutual funds, and pension plans have begun to invest heavily in these dynamic economies, making our own prosperity increasingly dependent on theirs.While the Big Ten offer new opportunities for the United States, Garten observes their potential political instability could create economic havoc around the world. In addition, they pose powerful ethical and strategic dilemmas. The BEMs do not share our values regarding human rights, child labor, corruption, or environmental degradation, and our growing contacts with these societies are sure to violate our notions of fairness and our moral sensibilities. And as the Big Ten grow and mature as regional powers, they will pose unprecedented challenges to American global leadership.Drawing on his first-hand experiences at the highest levels of government, finance, and academia, Garten advances a comprehensive plan for America to meet the challenges of this emerging new world. he addresses the critical questions facing American policy makers, business executives, educators, and concerned citizens, and he outlines the bold changes that will be necessary if we are to control our national destiny in the decades to come. The Big Ten will help readers understand the importance of NAFTA, the rise of China, the connection between trade and human rights, and the imperatives for American foreign policy, business, and higher education. Packed with powerful insights and real-life stories from the front lines of international commerce, The Big Ten will redefine the way we think about America's global role in the twenty-first century.

Roughly once a year, the managing director of the International Monetary Fund, the US treasury secretary and in some cases the finance ministers of other G-7 countries will get a call from the finance minister of a large emerging market economy. The emerging market finance minister will indicate that the country is rapidly running out of foreign reserves, that it has lost access to international capital markets and, perhaps, that is has lost the confidence of its own citizens. Without a rescue loan, it will be forced to devalue its currency and default either on its government debt or on loans to the country's banks that the government has guaranteed. This book looks at these situations and the options available to alleviate the problem. It argues for a policy that recognizes that every crisis is different and that different cases need to be handled within a framework that provides consistency and predictability to borrowing countries as well as those who invest in their debt.

The speed with which Algeria has gone from symbol of revolutionary socialism to Islamic battleground has confounded most observers. Charting Algeria's political evolution from the turn of the century to the present, Robert Malley explores the historical and intellectual underpinnings of the current crisis. His analysis helps makes sense of the civil war that is tearing Algeria apart. Using contemporary Algerian politics as a case study of the intellectual movement labeled "Third Worldism," Malley's thoughtful analysis also elucidates the broader transformations affecting countries of the Third World that once embraced ideologies of state-centered radical change. Malley focuses on the interplay between politics, economics, and ideology to explain the rise, essential components, and precipitous decline of Third Worldism—a movement that attracted scholars and activists in both the developed and underdeveloped worlds from the mid 1950s to the mid 1980s. He relates the disillusionment with Third Worldism to the growing appeal in the Third World of economic liberalism, versions of political pluralism, and ideological movements that threaten the very existence of the central state. At a time when the public increasingly is associating countries of the less developed world with Islamism, tribalism, and ethnic warfare, The Call from Algeria challenges our assumptions and offers a new perspective.

The speeches in this collection-all delivered since Nicholas Stern became Chief Economist of the World Bank in July 2000-reflect insights that Mr. Stern has gained over more than three decades of study and work in development economics. Together they provide an analysis of development experience and an agenda for action in the coming years. In his introduction, the author explains the evolution of his ideas, starting with early work in Africa and India, within the larger context of changes in development thinking and strategy. The speeches that follow draw on his varied experience and on the research findings and operational experience of the World Bank. The first speech provides an overview of the past five decades of development. Speeches that follow explore current development issues in India, Indonesia, Pakistan, and China. A strategy for development is then outlined: building an economic climate that facilitates investment and growth, and empowering poor people to participate in that growth. A concluding speech examines the role of the international financial institutions in promoting investment and overcoming poverty.