7.Econ115B.hw3_2012W

7.Econ115B.hw3_2012W - always given them an anti-export...

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University of California-Davis Winter 2012 Economics 115B: Macroeconomic Development Homework #3 Instructor : Wing Thye Woo Lijuan Yin Teaching Assistant: Due Wednesday Feb 15th, 2012 (put it in Professor Woo's mailbox by 3pm) Question I Read Wing Thye Woo’s “The Art of Economic Development: Markets, Politics and Externalities”, and answer the following questions: (a) What is the Jeffrey Sachs explanation for why East Asian countries adopted export- promoting industrialization, and why Latin America adopted import-substituting industrialization? (b) Explain how high inflation and currency overvaluation in Latin American countries have
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Unformatted text preview: always given them an anti-export bias? Question II Read Wing Thye Woo, The Changing Ingredients in Industrial Policy for Economic Growth, and answer the following questions: 1. Discuss whether the World Bank's "neutral incentive" interpretation of the policy regimes in South Korea and Taiwan is supported in Tables 1 and 2? 2. What are the key differences between Washington Consensus Mark 1 and Washington Consensus Mark 2? 3. Discuss the weaknesses of Washington Consensus Mark 2 Question III How are the six features of capitalism identified by Max Weber different from feudalism?...
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