Imagine There's No Country: Poverty Inequality and Growth in the Era of Globalization [Paperback]

Surjit S. Bhalla (Author)

Book Description

Publication Date: September 1, 2002

A new era of globalization, which began in the 1980s, brought about a significant decline in costs of transportation, communication, and production; considerably improved intercountry competitiveness; and broke down trade and cultural barriers among countries. The concept of a sovereign nation has been increasingly questioned in recent years. Some, indeed, have imagined a world without boundaries, without countries. Others who doubt the benefits of globalization have called for increased protectionism and greater regulation of economic activity.

Has globalization made the world grow faster? Has poverty declined at a faster pace during globalization? If yes, why? If not, is it because the growth rate was lower, or because inequality worsened, or both? Who has gained from globalization? Is it the elite in both the developed and developing world? What about the middle class? Who are they? How have they benefited from (or lost to) the forces of globalization?

This comprehensive study firmly debunks several popular myths such as the belief that globalization has resulted in lower overall growth rates for poor countries, increasing world inequality, and stagnating poverty levels. Through rigorous, integrated methodologies and an enhanced dataset, the author, Surjit S. Bhalla, answers some of the most pressing policy issues confronting us today.

Editorial Reviews

Review

"A brilliant new book" -- The Times of India (Oct. 12, 2002)

"Bhalla rubbishes poverty estimates (of) the World Bank and the Indian government...dramatic findings could shake up global development policy." -- Outlook Magazine (India, Oct. 28, 2002)

"Challenges the contention that the world...has experienced increased poverty and inequality...Bhalla convincingly demonstrates that both propositions are incorrect." -- Foreign Affairs (Nov./Dec. 2002)

"Read the book ... it's stimulating." -- The Sunday Express (India, Nov. 10, 2002)

About the Author

Surjit Bhalla has since 1986 been Managing Director of Oxus Research and Investments, a New Delhi based asset management and emerging markets advisory firm. He was chief global strategist for emerging markets at Deutsche Bank from 1994-96, and had worked at several other prominent businesses or organization prior to that period, including Goldman Sachs, the World Bank, and the Brookings Institution. He also served as Executive Director of the Policy Group in New Delhi, India from 1986-90. His research has mainly focused on economic development, capital markets, macroeconomic policy, poverty and economic growth. He has published more than 70 articles in books and journals, in addition to some 250 columns in magazines and newspapers.

Product Details

• Paperback: 288 pages
• Publisher: Peterson Institute (September 1, 2002)
• Language: English
• ISBN-10: 0881323489
• ISBN-13: 978-0881323481
• Product Dimensions: 8.9 x 5.9 x 0.7 inches
• Shipping Weight: 13.6 ounces (View shipping rates and policies)
• Average Customer Review: 3.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #2,358,651 in Books (See Top 100 in Books)

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Most Helpful Customer Reviews

15 of 16 people found the following review helpful:

3.0 out of 5 stars Interesting but a bit over the top, June 26, 2003

By 

"globalinequality" (outside Pennsylvania Furnace, PA, USA) - See all my reviews

This review is from: Imagine There's No Country: Poverty Inequality and Growth in the Era of Globalization (Paperback)

Bhalla wants to fight. He claims that globalization - far from being the bugaboo imagined by the WTO protestors - has led to a world where incomes are becoming more equally distributed. The conventional wisdom that incomes are diverging rapidly is, Bhalla claims, based on bad numbers and bad number crunching. When the right numbers are crunched properly - here Bhalla says in effect "trust me, I am the only person who knows how to do this right" - we find that incomes are in fact becoming more equally distributed across the world's citizens.

More specifically, Bhalla makes the following points: (1) Income inequality is declining across nations (in large part because of rapid income growth in poor populous nations such as China and India in East and South Asia). (2) Income inequality is rising in many nations. (3) Because inequality across nations is the larger component of total world income inequality, total inequality is declining despite the rise in inequality in the average nation.

Unless you have time to spare, however, I recommend you read The New Geography of Global Income Inequality instead of this book. It's more expensive than the Bhalla book, but it's also a much better book - more focused, better organized, more convincing, and more theoretically informed. In fact, if not for the price of The New Geography, I would recommend it for college courses in globalization and economic development. I would not recommend Bhalla's book for undergraduates. In addition to The New Geography, I also recommend the September 2002 article in the American Economic Review by Bourguignon and Morrisson, "Inequality among world citizens, 1820-1992."