All the econ I've seen attributes poverty reduction to govs intervening, so that the commodity boom was more evenly shared..
But this, I suggest, was precisely the problem.
Poverty reduction was contingent on growth, which was contingent on the commodity boom.
Without industrial policy, when commodity prices tanked -> disaster
My understanding is that oil & mineral rich SSA countries benefited from the post-2003 commodity boom, but income inequality increased in these countries
Poverty looks like this 👇
i portrayed him as claiming neoliberalism led to 'poverty reduction'.
actually he referred to 'growth'. that was an unintentional error on my part
but i haven't seen evidence that neoliberalism caused growth...
1) Were macro economic stabilisation & market liberalisation a precondition for economic growth in SSA and Latin America ?
2) Were they sufficient for industrialisation & diversification?
Yes, China has liberalised, but there is also *massive* state invention
And the kinds of liberalisation in China hardly justify contemporary neoliberalism in the USA because they are at far ends of a spectrum