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Mon, 17 Nov 2008 10:06:38 -0500 |
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Felix Vardy of the World Bank knows, I hope, of Lauchlin Currie's
early work for the World Bank (beginning 1949) on the need to
diversify away from primary production in Colombia, including the
case for a dual exchange rate system for a hugely dominant export
crop like coffee. Currie soon crossed swords with Albert Hirschman
and other World Bank officials over subsequent plans for Colombia.
This is fully documented in Michele Alacevich, _The World Bank and
Development: The early years_ (Stanford U.P., 2009, forthcoming).
Currie's subsequent career as a top economic adviser in Latin America
and his conflicts with the ECLA-Prebisch approach, is covered, for
example, in his _Accelerating Development_ (McGraw-Hill, 1966) and
many subsequent works (he died in 1993). He rejected the popular (and
populist) Latin-American structuralist and 'dependencia' schools,
along with the related Todaro thesis that there has been too much
rural-urban migration.
For his alternative "leading sector" approach to the problem of
excessive primary sector employment, see Ramesh Chandra, "Currie's
'Leading Sector' Strategy of Growth: an appraisal", _Journal of
Development Studies_, 42:3 (April 2006).
Roger Sandilands
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