... capital genie back into the bottle, at least for a while. This intellectual change of heart can also be seen in parts of the international policy community. Respected economists such as Joseph Stiglitz23 (another former chairman of the Council of Economic Advisors) have argued that capital account liberalisation needs to be moved back on the policy agenda of emerging market economies. At ... open international economy. But, without overstating the case, this may be changing in some quarters. The focus of the multilateral development banks is moving in the direction of recognising the le...

• Word Count: 9082
• Approx Pages: 36
• Grade Level: Undergraduate

... UK, is smart aid. Smart aid involves "design and implementation of nuance strategies, an appreciation of the limitations of external factors, and the adoption of a transformative (rather than palliative) mission " (Joseph & Gillies 2009, p. 17). Smart aid involves understanding the circumstances of the recipient and encouraging local business, working closely with the local governments, using returnable loans and equity to increase the ... savings to start up (United nations Office of Special Adviser on Africa 2011). However, Dambisa Moyo (2009) in her book reports savings that are stas...

• Word Count: 1966
• Approx Pages: 8
• Grade Level: Undergraduate