One Economics, Many Recipes: Globalization, Institutions, and Economic Growth

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Overview

In One Economics, Many Recipes, leading economist Dani Rodrik argues that neither globalizers nor antiglobalizers have got it right. While economic globalization can be a boon for countries that are trying to dig out of poverty, success usually requires following policies that are tailored to local economic and political realities rather than obeying the dictates of the international globalization establishment. A definitive statement of Rodrik's original and influential perspective on economic growth and globalization, One Economics, Many Recipes shows how successful countries craft their own unique strategies--and what other countries can learn from them.

To most proglobalizers, globalization is a source of economic salvation for developing nations, and to fully benefit from it nations must follow a universal set of rules designed by organizations such as the World Bank, the International Monetary Fund, and the World Trade Organization and enforced by international investors and capital markets. But to most antiglobalizers, such global rules spell nothing but trouble, and the more poor nations shield themselves from them, the better off they are. Rodrik rejects the simplifications of both sides, showing that poor countries get rich not by copying what Washington technocrats preach or what others have done, but by overcoming their own highly specific constraints. And, far from conflicting with economic science, this is exactly what good economics teaches.

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Editorial Reviews

Times Higher Education
Rodrik packs a great deal into his 260 lucid, cogent pages. Orthodoxies always need serious criticism. Rodrik has supplied it. He has no simple, single recipe for remedying deficient growth—just the eminently sensible advice that there is none—there are many.
— Peter Sinclair
Financial Times
Dani Rodrik, a Harvard academic usually associated with the active-government side, has written an intriguing book, One Economics, Many Recipes. He argues that economists who agree who agree in general about where countries should be going can conduct open and honest—and technical rather than ideological—debates about how to get there.
— Alan Beattie
Prospect
This book is certainly among the best of the many works on development economics recently published. . . . One Economics, Many Recipes is also a model of how applied economics should be done.
— John Kay
Foreign Affairs
The Harvard development economist Rodrik here collects a several of his recent papers into a coherent book. . . . In short, [One Economics, Many Recipes] is a critical response to the international 'consensus' approach to economic policymaking, with its implicit assumption that one set of policies is suitable in all, or at least in most, countries. Rodrik has become known for emphasizing the importance of institutions, but he here makes clear that appropriate policies are also important and that effective institutions can take many forms.
— Richard Cooper
New Statesman
Rodrik's book hits many of the right buttons. He has put together a collection of essays of sufficient breadth to engage both the technical observer and the casual reader. His treatment of the subject will come as a bitter pill to both the anti-globalisation movement and the developmentariat, that international coterie of practitioners and commentators working on development issues.
— Mario Pisani
Choice
Rodrik is known for rigorous analysis that challenges the conventional wisdom, and this book does not disappoint. Economic growth is a very important goal, Rodrik argues, but the evidence indicates that there is no single recipe for growth.
— M. Veseth
Democracy and Society

Rodrik serves as an important, moderating voice in the globalization debate and this book proves no exception.
— Sarah Cleeland Knight
Claremont Review of Books
In his recent book, One Economics, Many Recipes, Harvard professor of international political economy Dani Rodrik wisely reminds us that there exists no general theory of growth, though he offers pragmatic suggestions in individual cases.
— Carl J. Schramm
World Trade Review
[T]he thoughtful and scholarly elaboration of his pro-industrial policy views in this book should be essential reading for all interested in stimulating growth in these countries.
— Robert E. Baldwin
EH.net
Rodrik wins all hearts and minds by a careful consideration of the facts and sheer breadth of coverage. . . . Thus, market mavens, policy pros, global gurus and institutional irredentists can all savor what he says!
— Alice Amsden
Journal of International Economics
Rodrik lays out a broad critique of prevailing approaches to development policy, offers fresh ideas for countries seeking to improve their economic performance, and argues for important reforms in the World Trade Organization (WTO) to make room for those ideas. The book is actually a collection of Rodrik's recent papers on growth, institutions, and globalization, but they constitute a remarkably coherent view of the development problem. . . . The book should have a deep and lasting effect on the way we think about economic development.
— Andrés Rodríguez-Clare
Democracy & Society
Rodrik serves as an important, moderating voice in the globalization debate and this book proves no exception.
— Sarah Cleeland Knight
Times Higher Education - Peter Sinclair
Rodrik packs a great deal into his 260 lucid, cogent pages. Orthodoxies always need serious criticism. Rodrik has supplied it. He has no simple, single recipe for remedying deficient growth—just the eminently sensible advice that there is none—there are many.
Financial Times - Alan Beattie
Dani Rodrik, a Harvard academic usually associated with the active-government side, has written an intriguing book, One Economics, Many Recipes. He argues that economists who agree who agree in general about where countries should be going can conduct open and honest—and technical rather than ideological—debates about how to get there.
Prospect - John Kay
This book is certainly among the best of the many works on development economics recently published. . . . One Economics, Many Recipes is also a model of how applied economics should be done.
Foreign Affairs - Richard Cooper
The Harvard development economist Rodrik here collects a several of his recent papers into a coherent book. . . . In short, [One Economics, Many Recipes] is a critical response to the international 'consensus' approach to economic policymaking, with its implicit assumption that one set of policies is suitable in all, or at least in most, countries. Rodrik has become known for emphasizing the importance of institutions, but he here makes clear that appropriate policies are also important and that effective institutions can take many forms.
New Statesman - Mario Pisani
Rodrik's book hits many of the right buttons. He has put together a collection of essays of sufficient breadth to engage both the technical observer and the casual reader. His treatment of the subject will come as a bitter pill to both the anti-globalisation movement and the developmentariat, that international coterie of practitioners and commentators working on development issues.
Choice - M. Veseth
Rodrik is known for rigorous analysis that challenges the conventional wisdom, and this book does not disappoint. Economic growth is a very important goal, Rodrik argues, but the evidence indicates that there is no single recipe for growth.
Democracy and Society - Sarah Cleeland Knight
Rodrik serves as an important, moderating voice in the globalization debate and this book proves no exception.
Claremont Review of Books - Carl J. Schramm
In his recent book, One Economics, Many Recipes, Harvard professor of international political economy Dani Rodrik wisely reminds us that there exists no general theory of growth, though he offers pragmatic suggestions in individual cases.
World Trade Review - Robert E. Baldwin
[T]he thoughtful and scholarly elaboration of his pro-industrial policy views in this book should be essential reading for all interested in stimulating growth in these countries.
EH.net - Alice Amsden
Rodrik wins all hearts and minds by a careful consideration of the facts and sheer breadth of coverage. . . . Thus, market mavens, policy pros, global gurus and institutional irredentists can all savor what he says!
Journal of International Economics - Andres Rodriguez-Clare
Rodrik lays out a broad critique of prevailing approaches to development policy, offers fresh ideas for countries seeking to improve their economic performance, and argues for important reforms in the World Trade Organization (WTO) to make room for those ideas. The book is actually a collection of Rodrik's recent papers on growth, institutions, and globalization, but they constitute a remarkably coherent view of the development problem. . . . The book should have a deep and lasting effect on the way we think about economic development.
Journal of International Economics - Andrés Rodríguez-Clare
Rodrik lays out a broad critique of prevailing approaches to development policy, offers fresh ideas for countries seeking to improve their economic performance, and argues for important reforms in the World Trade Organization (WTO) to make room for those ideas. The book is actually a collection of Rodrik's recent papers on growth, institutions, and globalization, but they constitute a remarkably coherent view of the development problem. . . . The book should have a deep and lasting effect on the way we think about economic development.
From the Publisher

"Rodrik packs a great deal into his 260 lucid, cogent pages. Orthodoxies always need serious criticism. Rodrik has supplied it. He has no simple, single recipe for remedying deficient growth--just the eminently sensible advice that there is none--there are many."--Peter Sinclair, Times Higher Education

"Dani Rodrik, a Harvard academic usually associated with the active-government side, has written an intriguing book, One Economics, Many Recipes. He argues that economists who agree who agree in general about where countries should be going can conduct open and honest--and technical rather than ideological--debates about how to get there."--Alan Beattie, Financial Times

"This book is certainly among the best of the many works on development economics recently published. . . . One Economics, Many Recipes is also a model of how applied economics should be done."--John Kay, Prospect

"The Harvard development economist Rodrik here collects a several of his recent papers into a coherent book. . . . In short, [One Economics, Many Recipes] is a critical response to the international 'consensus' approach to economic policymaking, with its implicit assumption that one set of policies is suitable in all, or at least in most, countries. Rodrik has become known for emphasizing the importance of institutions, but he here makes clear that appropriate policies are also important and that effective institutions can take many forms."--Richard Cooper, Foreign Affairs

"Rodrik's book hits many of the right buttons. He has put together a collection of essays of sufficient breadth to engage both the technical observer and the casual reader. His treatment of the subject will come as a bitter pill to both the anti-globalisation movement and the developmentariat, that international coterie of practitioners and commentators working on development issues."--Mario Pisani, New Statesman

"Rodrik is known for rigorous analysis that challenges the conventional wisdom, and this book does not disappoint. Economic growth is a very important goal, Rodrik argues, but the evidence indicates that there is no single recipe for growth."--M. Veseth, Choice

"Rodrik serves as an important, moderating voice in the globalization debate and this book proves no exception."--Sarah Cleeland Knight, Democracy and Society

"In his recent book, One Economics, Many Recipes, Harvard professor of international political economy Dani Rodrik wisely reminds us that there exists no general theory of growth, though he offers pragmatic suggestions in individual cases."--Carl J. Schramm, Claremont Review of Books

"[T]he thoughtful and scholarly elaboration of his pro-industrial policy views in this book should be essential reading for all interested in stimulating growth in these countries."--Robert E. Baldwin, World Trade Review

"Rodrik wins all hearts and minds by a careful consideration of the facts and sheer breadth of coverage. . . . Thus, market mavens, policy pros, global gurus and institutional irredentists can all savor what he says!"--Alice Amsden, EH.net
"Rodrik lays out a broad critique of prevailing approaches to development policy, offers fresh ideas for countries seeking to improve their economic performance, and argues for important reforms in the World Trade Organization (WTO) to make room for those ideas. The book is actually a collection of Rodrik's recent papers on growth, institutions, and globalization, but they constitute a remarkably coherent view of the development problem. . . . The book should have a deep and lasting effect on the way we think about economic development."--Andrés Rodríguez-Clare, Journal of International Economics

"I would highly recommend One Economics, Many Recipes to anyone interested in understanding how economics can help to improve the lives of the poor. Rodrick is innovative, challenging and extremely bright; and he has thought long and hard about this question. In addition to providing a good introduction to his own ideas, Rodrick has filtered, digested and provided his expert summary of the enormous literature on Globalization, Institutions and Economics Growth."--Emma Aisbett, Economic Record

Financial Times
Dani Rodrik, a Harvard academic usually associated with the active-government side, has written an intriguing book, One Economics, Many Recipes. He argues that economists who agree who agree in general about where countries should be going can conduct open and honest—and technical rather than ideological—debates about how to get there.
— Alan Beattie
Foreign Affairs
The Harvard development economist Rodrik here collects a several of his recent papers into a coherent book. . . . In short, [One Economics, Many Recipes] is a critical response to the international 'consensus' approach to economic policymaking, with its implicit assumption that one set of policies is suitable in all, or at least in most, countries. Rodrik has become known for emphasizing the importance of institutions, but he here makes clear that appropriate policies are also important and that effective institutions can take many forms.
— Richard Cooper
Claremont Review of Books
In his recent book, One Economics, Many Recipes, Harvard professor of international political economy Dani Rodrik wisely reminds us that there exists no general theory of growth, though he offers pragmatic suggestions in individual cases.
— Carl J. Schramm
Prospect
This book is certainly among the best of the many works on development economics recently published. . . . One Economics, Many Recipes is also a model of how applied economics should be done.
— John Kay
Journal of International Economics
Rodrik lays out a broad critique of prevailing approaches to development policy, offers fresh ideas for countries seeking to improve their economic performance, and argues for important reforms in the World Trade Organization (WTO) to make room for those ideas. The book is actually a collection of Rodrik's recent papers on growth, institutions, and globalization, but they constitute a remarkably coherent view of the development problem. . . . The book should have a deep and lasting effect on the way we think about economic development.
— Andres Rodriguez-Clare
Democracy and Society
Rodrik serves as an important, moderating voice in the globalization debate and this book proves no exception.
— Sarah Cleeland Knight
Read More Show Less

Product Details

  • ISBN-13: 9780691141176
  • Publisher: Princeton University Press
  • Publication date: 12/29/2008
  • Edition description: New Edition
  • Pages: 280
  • Sales rank: 1,007,868
  • Product dimensions: 6.00 (w) x 9.10 (h) x 0.80 (d)

Meet the Author


Dani Rodrik is professor of international political economy at the John F. Kennedy School of Government at Harvard University. He was the recipient of the inaugural Albert O. Hirschman Prize from the Social Sciences Research Council, and is the author of "Making Openness Work: The New Global Economy and the Developing Countries" and "Has Globalization Gone Too Far?"
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Table of Contents

Acknowledgments ix
Introduction 1

PART A: ECONOMIC GROWTH

Chapter 1. Fifty Years of Growth (and Lack Thereof): An Interpretation 13
Chapter 2. Growth Diagnostics 56
Chapter 3. Synthesis: A Practical Approach to Growth Strategies 85

PART B: INSTITUTIONS

Chapter 4. Industrial Policy for the Twenty-first Century 99
Chapter 5. Institutions for High-Quality Growth 153
Chapter 6. Getting Institutions Right 184

PART C: GLOBALIZATION

Chapter 7. Governance of Economic Globalization 195
Chapter 8. The Global Governance of Trade As If Development Really Mattered 213
Chapter 9. Globalization for Whom? 237

References 243 Index 257

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Sort by: Showing 1 Customer Reviews
  • Posted September 8, 2009

    I Also Recommend:

    Brilliant study of the policies needed for economic growth

    Dani Rodrik, Professor of International Political Economy at Harvard University, advises developing countries not to rely on financial markets or the international financial institutions. He argues that the principles of property rights, the rule of law, sound money, and honest public finances need to be put into practice, and the conditions for doing so vary from country to country. There is no single, simple recipe for growth.

    He proposes six policies to help implement industrial policy: export subsidies, domestic-content requirements, import-export linkages, import quotas, patent and copyright infringements, and directed credit.

    He argues against relying on foreign direct investment, writing, "careful studies have found very little systematic evidence of technological and other externalities from foreign direct investment, some even finding negative spillovers. In these circumstances, subsidizing foreign investors is a silly policy, as it transfers income from poor-country taxpayers to the pockets of shareholders in rich countries, with no compensating benefit."

    Rodrik says countries cannot have 'globalisation', nation-states and democracy all at once, only any two of the three. So if we want a nation-state and democracy, we must limit our participation in the global economy.

    If trade liberalisation brought wealth, Haiti would be the richest country in the world. As Rodrik observes, "no country has developed simply by opening itself up to foreign trade and investment." And, "there is no convincing evidence that trade liberalisation is predictably associated with subsequent economic growth. . integration with the world economy is an outcome, and not a prerequisite, of a successful growth strategy."

    All countries have the right to protect their own institutions and development priorities; none has the right to impose its preferences on others. So Rodrik opposes any country's using the World Bank, the IMF and the WTO to enforce its views. He writes, "Trade rules should seek peaceful coexistence among national practices, not harmonisation."

    1 out of 1 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
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