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Foreign direct investment, financial flows, private-sector development, humanitarian assistance, Africa
Vijaya Ramachandran is a senior fellow at the Center for Global Development. She works on the impact of the business environment on the productivity of firms in developing countries, and is the coauthor of an essay titled "Development as Diffusion: Manufacturing Productivity and Africa's Missing Middle,” published in the Oxford Handbook on Economics and Africa. Vijaya is also studying the unintended consequences of rich countries’ anti-money laundering policies on financial inclusion in poor countries. She has published her research in journals such as World Development, Development Policy Review, Governance, Prism, and AIDS and is the author of a CGD book, Africa’s Private Sector: What’s Wrong with the Business Environment and What to Do About It. Prior to joining CGD, Vijaya worked at the World Bank and in the Executive Office of the Secretary-General of the United Nations. She also served on the faculties of Georgetown University and Duke University. Her work has appeared in several media outlets including the Economist, Financial Times, Guardian, Washington Post, New York Times, National Public Radio, and Vox.
International corporations interested in joining the fight against global poverty can choose from a wide range of options, according to a new CGD report released last week. The report, Joining the Fight Against Global Poverty: A Menu for Corporate Engagement, suggests six approaches for corporations to consider. Based on interviews with senior executives at 15 firms with global reach, it includes stories about what has worked (and what hasn't) and describes some of the advantages that companies have found in working for development.
This is a joint posting with Peter Timmer.
This past weekend, the New York Times published a provocative story titled "Ending Famine, Simply By Ignoring the Experts" (login required), about how Malawi has rescued itself from endless cycles of famine. The Times argued that Malawi accomplished this seemingly impossible goal by ignoring experts from the World Bank and rich-country aid organizations who have insisted that Malawi should cut back or eliminate its subsidies on fertilizer. But Malawi's newly elected president, Bingu wa Mutharika, did just the opposite--he reinstated and deepened the subsidies, which in turn increased yields and resulted in exports of corn to neighboring countries. Was the president right to do this?
CGD visiting fellow Vijaya Ramachandran and co-authors Manju Kedia Shah and Gaiv Tata used firm-level survey data from more than 1,500 enterprises in six African countries to discover how and why African firms lobby. Their working paper concludes that larger, entrenched firms lobby to protect their market share, and that this inhibits competition, reducing efficiency and growth. The authors suggest that regional integration could be one way out of this trap, because it expands the number of enterprises in the marketplace as well as the size of the market, thus making it both harder and less worthwhile for domestically entrenched enterprises to lobby to protect their market share.