Robert Hunter Wade
Datos Biográficos
| ID | 225856 |
|---|---|
| NOMBRE | Robert Hunter Wade |
| NOMBRES | Robert Hunter |
| APELLIDO | Wade |
| FIRMA | WADE R H |
| AFILIACIONES | London School of Economics and Political Science |
| ORCID | 0009-0005-8584-8258 |
| VERIFICADO | Sí |
| TOTAL DE OBRAS | 50 |
| TOTAL DE CITAS | 2080 |
| TOTAL COMO AUTOR | 50 |
| TOTAL COMO EDITOR | 0 |
| PRIMER AÑO DE PUBLICACIÓN | 1989 |
| AÑO MÁS RECIENTE DE PUBLICACIÓN | 2026 |
| ÍNDICE H | 14 |
No end in sight for global capitalism
The future of global capitalism is tied to the future of the US’s economic dominance. We argue that many commentators greatly exaggerate US economic decline because they rely on outdated conceptualizations of national economic power from before the post-1990s age of globalization. Once we understand how American power has globalized, the virtually insurmountable nature of US hegemony in global capitalism becomes clear, for the foreseeable future.…
Will the IMF Survive to 100
After almost 80 years of the IMF’s existence, the distribution of influence in key decisions is still much as it was at the organization’s founding in 1945, during the era of Western colonialism - still mostly in the hands of a small set of high-income nation. It is as though the emerging “multipolarity” of the world order had not taken place. This essay sets out the imbalance between the relative “weight” of a country (or set of countries) in th…
Who’s governing the market? bringing the individual back into the study of the developmental state
Research on the Northeast Asian economic miracle has focused on structural explanations, using institutional, geopolitical, and cultural variables. Much less focus has been on the role of the individuals (or “actors” or “agents”) responsible for leading the developmental states. This article contributes by using homophily theory to add a novel explanation for the origins of the success of the East Asian developmental states. Homophily refers to t…
The Origins and Dynamics of Inequality
Journal Article The Origins and Dynamics of Inequality: Sex, Politics, and Ideology Get access JON D. WISMAN. The Origins and Dynamics of Inequality: Sex, Politics, and Ideology. 2022. Oxford University Press, Oxford. pp. 528. ISBN 9780197575949. Robert H Wade Robert H Wade London School of Economics, London, UK Email: [email protected] Search for other works by this author on: Oxford Academic Google Scholar Contributions to Political Economy, bza…
The World Development Report 2022
2022: Finance for an EquitableRecovery states, 'The COVID-19 pandemic is possibly the largest shock to the global economy in over a century ' (p.20).In 2020, the first year of the pandemic, the global economy shrank by 3 per cent; economic activity contracted in about 90 per cent of countries.This is a higher percentage of countries experiencing negative growth in per capita GDP than in any year since 1901, when the data started -a higher proport…
Global Growth, Inequality, and Poverty
This chapter argues that economists have oversold the virtues of globalization, displaying confidence in derived policy prescriptions well beyond the evidence. The most spectacular recent demonstration of hubris is the failure of almost the whole of the mainstream economics profession in the few years before 2007–8 to forecast a major recession. The chapter then outlines the neo-liberal world view and its application in the form of the developmen…
Europe in a Turbulent World
The way ahead should be to greatly strengthen the doctrine of ‘subsidiarity,’ to protect against the EU taking on tasks it does not need to perform. This may have costs in terms of economic efficiency, due to more policy incoherence; but these costs have to be weighed against the economic gains from more scope for policy experimentation and copying
Science and Technology Policies and the Middle-Income Trap
As Vietnam crossed the World Bank’s threshold from ‘low income’ to ‘lower middle-income’ in 2010 the government and aid donors started to speak about ‘the middle-income trap’ as a central problem; and to frame ‘science and technology (S&T) policy’ as a means of sustaining economic growth and thereby avoiding the trap. They identified China and its S&T policy as a model, and pointed to Intel’s $1 billion facility as evidence of a burgeoning techno…
The Developmental State
Before the 1980s, the mainstream Western prescription for developing countries to catch up with the West assigned the state a leading role in governing the market. In the 1980s, this shifted to a framework-providing role in a largely deregulated and maximally open economy. Also in the 1980s, it became apparent that some East Asian capitalist economies were growing so fast that they would become 'developed' in the foreseeable future, marking them …
Boulevard to broken dreams, Part 2
This is the second part of the essay on the circumstances that led the World Bank to embrace norms and operational policies for environmental and indigenous people's protection in the late 1980s, as traced through the turbulent history of the Polonoroeste road project in the Brazilian Amazon. Polonoroeste became the spearhead with which environmental NGOs made their first attack on the Bank for participating in large-scale environmental and indig…
Boulevard to broken dreams, Part 1
Before the mid 1980s the World Bank conceived "nature" as something to be "conquered" and "environment" as a source of resources for "development". By the late 1980s the Bank incorporated norms of environmental sustainability and indigenous peoples' protection into its mandate, and other development-oriented IOs followed. This two-part paper describes how a fight over the Polonoroeste road project in the Brazilian Amazon - inside the Bank, betwee…
Political order and inequality
This is one of those rare books which elicit a ‘Wow!’ at the sight of the table of contents, a ‘Wow!’ when one reaches the end several days later, and many more in between. I imagine that Adam Smith's Wealth of nations provoked a similar response from its early readers, if in different language. Boix presents nothing less than a theory explaining why we humans have constructed the state (an organization with the capacity and incentives to monopol…
From control by capital to control of capital
For decades past the IMF has been a byword for economic orthodoxy, which included disapproval of policy limits on cross-border capital flows. But in 2012 it announced a new “institutional view” giving more scope for capital flow management and in effect restricting the rights of capital owners. The Fund's program in Iceland after the October 2008 crash helped to pave the way; it was the first time the Fund had endorsed capital controls in a devel…
The Piketty phenomenon
Two gentlemen relax in mahogany-panelled clubland. One says to the other, looking up from his newspaper, "The poor are getting poorer, but
Protecting Power
Income Inequality
Iceland's meltdown
This paper shows how rapid privatization and liberalization of Iceland's small local banks around 2000, combined with well-developed crony relations among the elite, enabled a small group of financiers to leverage government-guaranteed deposits into a vast wave of mergers and acquisitions abroad, and redistribute enough of the profits back home to make the economy boom. Negative policy feedback loops were systematically undermined. The incoming l…
Emerging World Order? From Multipolarity to Multilateralism in the G20, the World Bank, and the IMF
Many developing and transitional countries have grown faster than advanced countries in the past decade, resulting in a shift in the distribution of world income in their favor. China is now the second largest economy in the world, behind the United States and ahead of Japan. As the relative economic weight of China and several others has come to match or exceed that of the middle-ranking G7 economies, the world economy has shifted from 'unipolar…
Is the Globalization Consensus Dead
The development economist Dani Rodrik recently declared that “the globalization consensus is dead”. The claim has momentus implications, because this consensus has steered economic policy around the world for the past quarter century. It emanates from the heartland of neoclassical economics, and defines the central tasks of the Washington‐based organizations which claim to speak for the world. This essay answers two main questions. First, is Rodr…
Accountability Gone Wrong
Financial Regime Change
As stock markets plunge and governments scramble to bail out the finance sector, Robert Wade argues that we are exiting the neoliberal paradigm that has held sway since the 1980s. Causes and repercussions of the crisis, and errors of the model that brought it to fruition
Ngaire Woods The Globalizers
States and Development
A nation that opens its economy and keeps government's role to a minimum invariably experiences more rapid economic growth and rising incomes, so said a New York Times reporter by way of summarizing the prevailing view of business executives and government leaders at the World Economic Forum in New York City in February 2002. It is a good summary of the neoliberal belief system which has shaped since the late 1970s and early 1980s. (Previ ously, …
Choking the South
Charting the impact of fluctuating currencies, volatile stock markets and interest rates on the developing world since the end of the Bretton Woods system, Robert Wade contends that untrammelled mobility of capital—private funds above all—reinforces dynamics of debt and underdevelopment
Economic Governance in the Age of Globalization
Economic Governance in the Age of Globalization. By William Tabb. New York: Columbia University Press, 2004. 528p. $69.50 cloth, $29.50 paper. Martin Wolf, the influential economic correspondent of Financial Times, concludes his book Why Globalization Works (2004): “What the successful countries all share is a move towards the market economy, one in which private property rights, free enterprise and competition increasingly took the place of stat…
Governing the Market
Published originally in 1990 to critical acclaim, Robert Wade's Governing the Market quickly established itself as a standard in contemporary political economy. In it, Wade challenged claims both of those who saw the East Asian story as a vindication of free market principles and of those who attributed the success of Taiwan and other countries to government intervention. Instead, Wade turned attention to the way allocation decisions were divided…
What strategies are viable for developing countries today? The World Trade Organization and the shrinking of ‘development space’
The world is currently experiencing a surge of international regulations aimed at limiting the development policy options of developing country governments. Of the three big agreements coming out of the Uruguay Round – on investment measures (TRIMS), trade in services (GATS), and intellectual property rights (TRIPS) – the first two limit the authority of developing country governments to constrain the choices of companies operating in their terri…
Is Globalization Reducing Poverty and Inequality
US hegemony and the World Bank
Hegemony refers to a dominant group's ability to make others want the same thing as it wants for itself. It rests upon (1) a substantive pillar of belief that the system of rule created by the dominant group brings material and other benefits to all or most participants and that the feasible alternatives are worse, and (2) a procedural pillar of belief that the processes and procedures of the dominant system of rule are fair and appropri1ate and …
Emerging World Order? From Multipolarity to Multilateralism in the G20, the World Bank, and the IMF
Many developing and transitional countries have grown faster than advanced countries in the past decade, resulting in a shift in the distribution of world income in their favor. China is now the second largest economy in the world, behind the United States and ahead of Japan. As the relative economic weight of China and several others has come to match or exceed that of the middle-ranking G7 economies, the world economy has shifted from 'unipolar…
East Asia's Economic Success
Neoliberal economists say that growth is easy, provided the state does not obstruct the natural growth-inducing processes of a capitalist economy. They point to the success of South Korea and Taiwan as evidence that this proposition also holds for quite poor economies. Using chapters of Helen Hughes's edited volume by way of illustration, this article shows that the neoliberals ignore so much contrary evidence as to suggest that the neoliberal pa…
The Developmental State
Before the 1980s, the mainstream Western prescription for developing countries to catch up with the West assigned the state a leading role in governing the market. In the 1980s, this shifted to a framework-providing role in a largely deregulated and maximally open economy. Also in the 1980s, it became apparent that some East Asian capitalist economies were growing so fast that they would become 'developed' in the foreseeable future, marking them …
Making the World Development Report 2000
Protecting Power
The Invisible Hand of the American Empire
In the field of interstate military affairs it makes sense to talk of an American empire; but not in interstate economic affairs where the world remains thoroughly multipolar. So says Joseph Nye. This essay disagrees with the second part. It proceeds by way of a thought experiment. Imagine you are an aspiring modern-day emperor in a world of sovereign capitalist states. What sort of framework do you create such that (a) it sets the context in whi…
The Gathering World Slump and the Battle over Capital Controls
Financial Regime Change
As stock markets plunge and governments scramble to bail out the finance sector, Robert Wade argues that we are exiting the neoliberal paradigm that has held sway since the 1980s. Causes and repercussions of the crisis, and errors of the model that brought it to fruition
Bridging the Digital Divide
The Catholic Church has practice of appointing a devil's advocate (Advocatus Diaboli) when considering a person for sainthood. The role of advocate is to ferret Out all reasons why that person should not be made a saint and present them forcefully in discussion among cardinals who make decision. The current campaign to promote uptake of information and communication technologies (ICTs) in developing countries and to get aid donors to redirect the…
On the causes of increasing world poverty and inequality, or why the Matthew effect prevails
Failing States and Cumulative Causation in the World System
This article takes a world-system perspective on the phenomenon of actual or potential “failing states.” While recognizing the role of “domestic” causes (including corruption and cronyism), it emphasizes factors such as widening world income inequality, the location decisions of multinational corporations, North–South terms of trade, technology non-diffusion, and the strategies of the dominant states and the global economic multilateral organizat…
The Coming Fight over Capital Flows
T he test of a first-rate intelligence, said F. Scott Fitzgerald, is ability to hold two opposing views at same time and still function. In today's convulsing economy, this ability is essential to sanity, if not survival. One day Federal Reserve cuts interest rates, and Dow jumps 350 points; next day brings news of labor unrest in Brazil, and Dow plunges. One week situation seems to be stabilizing; next week Alan Greenspan, chairman of Federal Re…
Accountability Gone Wrong
The Newly Industrialising Economies of East Asia
Journal Article The Newly Industrialising Economies of East Asia. Get access The Newly Industrialising Economies of East Asia. By Chowdhury (Anis) and Islam (Iyanatul). (London and New York: Routledge, 1993. Pp. xiv + 288. £45.00 hardback, £14.99 paperback. ISBN 0 415 06876 2, 0 415 09749 5.) Robert Wade Robert Wade University of Sussex Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 105, Issu…
The Asian Crisis
How could the widely acknowledged real estate problems of Thailand’s banks in 1996 and 1997 have triggered such a far-reaching debt-and-development crisis? The devaluation of the Thai baht in July 1997 was followed by currency crises or financial instability in Indonesia, Malaysia, the Philippines, Taiwan, Hong Kong, Korea
Is the Globalization Consensus Dead
The development economist Dani Rodrik recently declared that “the globalization consensus is dead”. The claim has momentus implications, because this consensus has steered economic policy around the world for the past quarter century. It emanates from the heartland of neoclassical economics, and defines the central tasks of the Washington‐based organizations which claim to speak for the world. This essay answers two main questions. First, is Rodr…
From control by capital to control of capital
For decades past the IMF has been a byword for economic orthodoxy, which included disapproval of policy limits on cross-border capital flows. But in 2012 it announced a new “institutional view” giving more scope for capital flow management and in effect restricting the rights of capital owners. The Fund's program in Iceland after the October 2008 crash helped to pave the way; it was the first time the Fund had endorsed capital controls in a devel…
Income Inequality
The World Development Report 2022
2022: Finance for an EquitableRecovery states, 'The COVID-19 pandemic is possibly the largest shock to the global economy in over a century ' (p.20).In 2020, the first year of the pandemic, the global economy shrank by 3 per cent; economic activity contracted in about 90 per cent of countries.This is a higher percentage of countries experiencing negative growth in per capita GDP than in any year since 1901, when the data started -a higher proport…
Boulevard to broken dreams, Part 1
Before the mid 1980s the World Bank conceived "nature" as something to be "conquered" and "environment" as a source of resources for "development". By the late 1980s the Bank incorporated norms of environmental sustainability and indigenous peoples' protection into its mandate, and other development-oriented IOs followed. This two-part paper describes how a fight over the Polonoroeste road project in the Brazilian Amazon - inside the Bank, betwee…
The Piketty phenomenon
Two gentlemen relax in mahogany-panelled clubland. One says to the other, looking up from his newspaper, "The poor are getting poorer, but
Village Republics
Governing the Market
Published originally in 1990 to critical acclaim, Robert Wade's Governing the Market quickly established itself as a standard in contemporary political economy. In it, Wade challenged claims both of those who saw the East Asian story as a vindication of free market principles and of those who attributed the success of Taiwan and other countries to government intervention. Instead, Wade turned attention to the way allocation decisions were divided…
Village Republics
Strong States and Economic Development
East Asia's Economic Success
Neoliberal economists say that growth is easy, provided the state does not obstruct the natural growth-inducing processes of a capitalist economy. They point to the success of South Korea and Taiwan as evidence that this proposition also holds for quite poor economies. Using chapters of Helen Hughes's edited volume by way of illustration, this article shows that the neoliberals ignore so much contrary evidence as to suggest that the neoliberal pa…
The Newly Industrialising Economies of East Asia
Journal Article The Newly Industrialising Economies of East Asia. Get access The Newly Industrialising Economies of East Asia. By Chowdhury (Anis) and Islam (Iyanatul). (London and New York: Routledge, 1993. Pp. xiv + 288. £45.00 hardback, £14.99 paperback. ISBN 0 415 06876 2, 0 415 09749 5.) Robert Wade Robert Wade University of Sussex Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 105, Issu…
The Asian Crisis
How could the widely acknowledged real estate problems of Thailand’s banks in 1996 and 1997 have triggered such a far-reaching debt-and-development crisis? The devaluation of the Thai baht in July 1997 was followed by currency crises or financial instability in Indonesia, Malaysia, the Philippines, Taiwan, Hong Kong, Korea
The Gathering World Slump and the Battle over Capital Controls
The Coming Fight over Capital Flows
T he test of a first-rate intelligence, said F. Scott Fitzgerald, is ability to hold two opposing views at same time and still function. In today's convulsing economy, this ability is essential to sanity, if not survival. One day Federal Reserve cuts interest rates, and Dow jumps 350 points; next day brings news of labor unrest in Brazil, and Dow plunges. One week situation seems to be stabilizing; next week Alan Greenspan, chairman of Federal Re…
Making the World Development Report 2000
Showdown at the World Bank
‘International financial institutions’ are more national than they seem. Robert Wade reveals how tightly the US Treasury monitors and controls the World Bank, and how quickly it will stamp out departures from its orthodoxy
US hegemony and the World Bank
Hegemony refers to a dominant group's ability to make others want the same thing as it wants for itself. It rests upon (1) a substantive pillar of belief that the system of rule created by the dominant group brings material and other benefits to all or most participants and that the feasible alternatives are worse, and (2) a procedural pillar of belief that the processes and procedures of the dominant system of rule are fair and appropri1ate and …
Bridging the Digital Divide
The Catholic Church has practice of appointing a devil's advocate (Advocatus Diaboli) when considering a person for sainthood. The role of advocate is to ferret Out all reasons why that person should not be made a saint and present them forcefully in discussion among cardinals who make decision. The current campaign to promote uptake of information and communication technologies (ICTs) in developing countries and to get aid donors to redirect the…
What strategies are viable for developing countries today? The World Trade Organization and the shrinking of ‘development space’
The world is currently experiencing a surge of international regulations aimed at limiting the development policy options of developing country governments. Of the three big agreements coming out of the Uruguay Round – on investment measures (TRIMS), trade in services (GATS), and intellectual property rights (TRIPS) – the first two limit the authority of developing country governments to constrain the choices of companies operating in their terri…
The Invisible Hand of the American Empire
In the field of interstate military affairs it makes sense to talk of an American empire; but not in interstate economic affairs where the world remains thoroughly multipolar. So says Joseph Nye. This essay disagrees with the second part. It proceeds by way of a thought experiment. Imagine you are an aspiring modern-day emperor in a world of sovereign capitalist states. What sort of framework do you create such that (a) it sets the context in whi…
Joe Stiglitz's Bum Rap
The Causes of Village Cooperation
Village Republics (VR) (Wade 1988) explains village-based collective action in terms of intravillage conflict rooted in ecological conditions. Ragin et al. (2003 [this issue]) say that VR 's data point to intervillage conflict as the main driver-villagers organize themselves against incursions from people in other villages intent on stealing their resources. The authors show how Ragin et al. misstate VR 's argument and go on to describe problems …
On the causes of increasing world poverty and inequality, or why the Matthew effect prevails
Bringing the Economics Back in
Is Globalization Reducing Poverty and Inequality
The Ringmaster of Doha
The Stiglitz Consensus
Trading Strategies
Modernization and Private Interests
VISITORS TO INDIA over the past several decades have often remarked on the shoddy quality of many of its manufactured goods. How could a country with large numbers of talented engineers and business-people keep on reproducing, decade after decade, a more or less unchanged version of the British Morris motorcar from 1955? The answer beloved of liberal economists is simple: protection of the Indian car industry from international competition. The s…
Economic Governance in the Age of Globalization
Economic Governance in the Age of Globalization. By William Tabb. New York: Columbia University Press, 2004. 528p. $69.50 cloth, $29.50 paper. Martin Wolf, the influential economic correspondent of Financial Times, concludes his book Why Globalization Works (2004): “What the successful countries all share is a move towards the market economy, one in which private property rights, free enterprise and competition increasingly took the place of stat…
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