The purpose of this paper is to allow you to apply the
theories and insights of the course to the experiences of a developing country
in the current global economy, and at the same time to learn something about a
country you did not previously know well. You may pick any country you wish to
study that is not currently a member of the OECD, except Argentina (because I
use it as an example below) and China (because we’ve talked about it a fair bit
in class). Note that Israel, Mexico, South Korea, and a number of Central
European countries are OECD members (see www.oecd.org
for a list) and thus do not qualify (for exceptions to this rule, please see
me).
Your task is to analyze and make an argument about one
aspect of the recent international economic policy choices of the government of
your chosen country. (Recent here means since the turn of the century or,
preferably, the last decade or so.) Possible policy areas include (but are not
limited to) development policy, trade policy, policy regarding capital flows
and foreign direct investment, currency policy, monetary policy more generally,
and migration. It is best to stick to a single policy area, to avoid
encountering problems trying to provide both data and analysis in the 10-12
pages you should aim to write.
The crucial challenge is to go beyond merely describing what
a particular government did. Make an argument
analyzing the reasons for the government’s choices and explaining and
discussing the outcomes (were they different than the government intended /
possibly unsustainable / counterproductive in the long run, etc.?) Factors to
consider include: different domestic political and economic interest groups,
international institutions such as the IMF or the WTO, international economic
interests (foreign investors, lenders, MNCs., etc.), interactions between
different policies (such as the Mundell-Fleming conditions), and so on.
For example, say you wish to address Argentina’s currency
politics at the turn of the century. You would first describe (briefly! just
the relevant basics) the currency board system as it was originally
implemented. Then analyze why this was thought to be the best policy option at
the time. Discuss whether it performed as expected (and why it did or did not
do so), why the government clung to it even in the face of economic recession,
and finally why it became impossible to maintain the system. Finally, assess
whether (and to whom) a currency board policy might be appealing today.
Notes
1. One or more (but at least 1!)
sources you use must be from an academic journal or a book. This is to
make sure you take advantage of some sources that go deeper than the
superficial treatment you’re likely to find in normal online and journalistic
sources.
2. Anything
that is not common knowledge among your peers (classmates) requires citation.
3. Be sure not just to make an argument,
but also to consider potential counter-arguments.
4. Policies do not just happen. They are implemented for a
reason. Do not simply describe policies (and their outcomes) without discussing
why they were implemented. What political forces supported the policies, and
what forces opposed them? What factors explain the particular form a policy
took?
5. While
Wikipedia is a helpful starting point, it is not acceptable as a source
to cite.
Make sure you proofread and
spell-check your paper. One or two spelling mistakes are fine, but egregious
and consistent errors will be factored into your grade. Print the paper
double-spaced, with reasonable margins, so I can make comments easily. Your paper
should be 10 to 12 pages in length; a page or two longer is OK if you think it
is necessary for your argument; less is unlikely to give you enough space to
make a successful argument.
