From poverty to power - Oxfam-Québec
From poverty to power - Oxfam-Québec From poverty to power - Oxfam-Québec
NOTESFramework Paper drawn up between the government of Zambia and the IMFin 1990 and the two related Enhanced Structural Adjustment Facilities in 1991and 1995. The sequence of adjustment for Malawi is detailed in S. Devereux(1997). The first key commitment was in the second Structural AdjustmentLoan in the 1980s. In 1994 the country’s currency was devalued, leading to amassive increase in fertiliser prices, and all fertiliser subsidies were removed ayear later as a result of World Bank and IMF lending conditions. In bothcountries, the influence and responsibility of the major bilateral donors onthis issue was also very relevant, and particularly ‘the shortsighted and erraticactivities which characterise…what the major donors term as policy’(M. Blackie, personal communication).11 Oxfam International (2002) ‘Death on the Doorstep of the Summit’.12 Oxfam International (2007) ‘Blind Spot: The Continued Failure of the WorldBank and IMF to Fully Assess the Impact of their Advice on Poor People’.13 Oxfam International (2004) ‘From ‘Donorship to Ownership?’.14 Ibid.15 World Bank (2005) ‘Review Of World Bank Conditionality’.16 Seventeen of the 42 countries with IMF-supported programmes during2003–05 included a wage ceiling (D. Goldsbrough 2007). The IMF has nowintroduced a new policy that wage bill ceilings will only be used in ‘exceptionalcircumstances’, although it has failed to specify what such circumstanceswould be.17 J. Stiglitz (2006) op. cit.18 IMF, IMF Survey Magazine, 20 July 2007.19 See, for example, World Bank (2005) ‘Economic Growth in the 1990s:Learning from a Decade of Reform’, and R. Chambers et al. (2000) op. cit.20 N. Woods (2006) op. cit.21 Bretton Woods Project,‘Just Say No: Vocal Rejection of Bank, FundIncreasing’, 2 July 2007.22 N. Birdsall and D. Kapur (2005).23 A. Banerjee et al. (2006).24 Y. Akyüz (2006).25 N. Birdsall and D. Kapur (2005) op. cit.26 D. Green (2003).27 Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral DebtRelief Initiative (MDRI) – Status of Implementation Report, September 2007.28 www.jubileedebtcampaign.org.uk/?lid=110329 ‘Nestlé And Ethiopian Government Reach Settlement’, Nestlé press release,24 January 2003.30 Jubilee Debt Coalition (undated) ‘Vulture Funds and Zambia’; C.F. Gueye et al.(2007).31 Full details from the Norwegian Development Ministry at:www.odin.dep.no/ud/english/news/news/032171-070886/dok-bn.html32 M.F. de Castro, University of Brasilia, author interview, 1998.33 Calculated from WTO (2006). The daily trade in more obscure financialproducts, such as derivatives, stood at a further $1.2 trillion. Source:Bank of International Settlements, www.bis.org/publ/rpfx07.htm463
FROM POVERTY TO POWER34 UN (2006) ‘World Economic and Social Survey 2006’.35 J.M. Keynes (1941).36 Wall Street Journal, 24 May 1985.37 N. Birdsall (2006).38 J. Kimmis (2005).39 Quoted in D. Green (1999).40 NGOs (including Jubilee 2000) had serious reservations about the IMF model– not least that it excluded the IMF itself from having to be subject to any suchmechanism.41 NatWest Group Financial Review, p.34.42 J. Williamson et al. (2003).43 J. Stiglitz (2006) op. cit., p.4.44 ‘The invasion of the sovereign-wealth funds’, Economist, 19 January 2008.45 A. Cobham (2005).46 ‘Report Of Investigation Of Enron Corporation And Related EntitiesRegarding Federal Tax And Compensation Issues, And PolicyRecommendations’, www.gpo.gov/congress/joint/jcs-3-03/vol1/ index.html47 R. Baker (2005).48 J. Kimmis (2005) op. cit.49 This has been proposed by the Tax Justice Network; see:www.taxjustice.net/cms/front_content.php?idcat=250 Landau Commission Final Report,www.diplomatie.gouv.fr/en/IMG/pdf/LandauENG1.pdf51 Named after the Nobel prize-winning economist James Tobin, who firstproposed it.52 US International Trade Commission, www.usitc.gov53 OECD (2007) ‘Agricultural Policies in OECD Countries’.54 Oxfam International (2005) ‘A Round for Free’.55 H.-J. Chang and D. Green (2003).56 Oxfam International (2007) ‘Signing Away The Future’.57 Since the accession of China in 2001, the WTO is essentially a global body.Only a few transition economies, notably Russia and the Ukraine, and a fewothers such as Saudi Arabia, have yet to join.58 See Oxfam International (2002) ‘Rigged Rules and Double Standards’; theOxfam International website carries numerous papers on trade issues:www.oxfam.org/en/policy59 Oxfam America (2007) ‘Paying the Price’.60 Oxfam International (2005) ‘Truth or Consequences’.61 Oxfam International (2005) ‘Kicking Down the Door’.62 N. Schrijver and F. Weiss (2004).63 SUNS #5784, 20 April 2005.64 H.-J. Chang (2001) Kicking Away the Ladder.65 R. Falvey and N. Foster (2006). The same study also found that weak IPprotection has actually stimulated R&D activity in many countries byencouraging knowledge spillovers from transnational corporations and otherdomestic firms.464
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- Page 494 and 495: BIBLIOGRAPHYCozijnsen, J., D. Dudek
- Page 496 and 497: BIBLIOGRAPHYFerreira, F.H.G., P.G.
- Page 498 and 499: BIBLIOGRAPHYGreen, D. (2003) Silent
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FROM POVERTY TO POWER34 UN (2006) ‘World Economic and Social Survey 2006’.35 J.M. Keynes (1941).36 Wall Street Journal, 24 May 1985.37 N. Birdsall (2006).38 J. Kimmis (2005).39 Quoted in D. Green (1999).40 NGOs (including Jubilee 2000) had serious reservations about the IMF model– not least that it excluded the IMF itself from having <strong>to</strong> be subject <strong>to</strong> any suchmechanism.41 NatWest Group Financial Review, p.34.42 J. Williamson et al. (2003).43 J. Stiglitz (2006) op. cit., p.4.44 ‘The invasion of the sovereign-wealth funds’, Economist, 19 January 2008.45 A. Cobham (2005).46 ‘Report Of Investigation Of Enron Corporation And Related EntitiesRegarding Federal Tax And Compensation Issues, And PolicyRecommendations’, www.gpo.gov/congress/joint/jcs-3-03/vol1/ index.html47 R. Baker (2005).48 J. Kimmis (2005) op. cit.49 This has been proposed by the Tax Justice Network; see:www.taxjustice.net/cms/front_content.php?idcat=250 Landau Commission Final Report,www.diplomatie.gouv.fr/en/IMG/pdf/LandauENG1.pdf51 Named after the Nobel prize-winning economist James Tobin, who firstproposed it.52 US International Trade Commission, www.usitc.gov53 OECD (2007) ‘Agricultural Policies in OECD Countries’.54 <strong>Oxfam</strong> International (2005) ‘A Round for Free’.55 H.-J. Chang and D. Green (2003).56 <strong>Oxfam</strong> International (2007) ‘Signing Away The Future’.57 Since the accession of China in 2001, the WTO is essentially a global body.Only a few transition economies, notably Russia and the Ukraine, and a fewothers such as Saudi Arabia, have yet <strong>to</strong> join.58 See <strong>Oxfam</strong> International (2002) ‘Rigged Rules and Double Standards’; the<strong>Oxfam</strong> International website carries numerous papers on trade issues:www.oxfam.org/en/policy59 <strong>Oxfam</strong> America (2007) ‘Paying the Price’.60 <strong>Oxfam</strong> International (2005) ‘Truth or Consequences’.61 <strong>Oxfam</strong> International (2005) ‘Kicking Down the Door’.62 N. Schrijver and F. Weiss (2004).63 SUNS #5784, 20 April 2005.64 H.-J. Chang (2001) Kicking Away the Ladder.65 R. Falvey and N. Foster (2006). The same study also found that weak IPprotection has actually stimulated R&D activity in many countries byencouraging knowledge spillovers from transnational corporations and otherdomestic firms.464
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