Masterclass presentation: Fostering economic development thrrough entrepreneurship

Presentation by Prof Richard Harrison given at Trickle Out Master Class, held at the British Institute of East Africa in Nairobi, Kenya

Supporting social-cognitive development in the elementary years: The role of executive function and self-regulation

Every day we make decisions that have repercussions. Sometimes the effects are immediate and intended; other times the effects might be unintended or might not be apparent for years. As parents or educators, part of our role is to support the development of children’s decision-making skills, helping them to develop patterns of adaptive decision-making that will serve them well in their current lives and into the future. Part of successful decision-making involves self-control, a system served by the brain’s executive functions (EF). This involves the ability to put aside immediate reactions and base decisions on a variety of important considerations. Social-cognitive development, the ongoing improvement of the ability to get along with others and to understand others’ emotions, expressions, motivations, and intents, relies, to a large degree, on the same EF systems. The current paper explores the interaction of these two factors (the role of EF in social-cognitive development), explores the research to determine the most effective approaches to improving both factors, and develops a handbook providing activities for educators to use while supporting the growth of both EF and social-cognitive skills. Results of a needs assessment reveal that the majority (59%) of educators surveyed had never used a social skills improvement program in their classrooms, while a full 95% believed that social skills are important or very important for a student’s academic success.

Economic Development under Alternative Trade Regimes

How does openness affect economic development? This question is answered in the context of a dynamic general equilibrium model of the world economy, where countries have technological differences that are both sector-neutral and specific to the investment goods sector. Relative to a benchmark case of trade in credit markets only, consider (i) a complete restriction of trade, and (ii) a full liberalization of trade. The first change decreases the cross-sectional dispersion of incomes only slightly, and produces a relatively small welfare loss. The second change, instead, decreases dispersion by a significant amount, and produces a very large welfare gain.

Legal Institutions, Sectoral Heterogeneity, and Economic Development

Poor countries have lower PPP–adjusted investment rates and face higher relative prices of investment goods. It has been suggested that this happens either because these countries have a relatively lower TFP in industries producing capital goods, or because they are subject to greater investment distortions. This paper provides a micro–foundation for the cross–country dispersion in investment distortions. We first document that firms producing capital goods face a higher level of idiosyncratic risk than their counterparts producing consumption goods. In a model of capital accumulation where the protection of investors’ rights is incomplete, this difference in risk induces a wedge between the returns on investment in the two sectors. The wedge is bigger, the poorer the investor protection. In turn, this implies that countries endowed with weaker institutions face higher relative prices of investment goods, invest a lower fraction of their income, and end up being poorer. We find that our mechanism may be quantitatively important.

Balancing Economic Development with Environmental Conservation: Challenges Facing the North and South

This paper critically explores how development policies tend to ignore pressing environmental concerns. In the first section development in the North and South and the Bhopal disaster will be juxtaposed to show how development without environmental governance can be deadly. The article then turns to the way in which the Sri Lankan government’s Moragahakanda Development Project strives for economic development without concern for the environment. It will be contended in this article that governments and big companies in the North and South have tended to carelessly use scarce resources for development.

Industrialization and industrial policy in Colombia: a tale of economic development

This paper analyzes the main features and historical factors that played a central role for the industrialization process in Colombia during the twentieth century. The document surveys the legislation and policy instruments used in the programs of import substitution industrialization, nontraditional export promotion, and economic openness

Activities for social skills development in deaf children preparing to enter the mainstream

A sample of regular education teachers was surveyed to assess the social skills of recently mainstreamed students from oral deaf programs in their classrooms. In addition, a curriculum of social skills activities was developed to help prepare students from oral deaf schools to enter the mainstream.