A Development Consensus reconciling the Beijing Model and Washington Consensus: Views and Agenda

Asongu, Simplice A (2014): A Development Consensus reconciling the Beijing Model and Washington Consensus: Views and Agenda.

Abstract

Reconciling the two dominant development models of the Washington Consensus (WC) and Beijing Model (BM) remains a critical challenge in the literature. The challenge is even more demanding when emerging development paradigms like the Liberal Institutional Pluralism (LIP) and New Structural Economics (NSE) schools have to be integrated. While the latter has recognized both State and market failures but failed to provide a unified theory, the former has left the challenging concern of how institutional diversity matter in the development process. We synthesize perspectives from over 150 recently published papers on development and Sino-African relations in order to present the relevance of both the WC and BM in the long-term and short-run respectively. While the paper provides a unified theory by reconciling the WC and the BM to complement the NSE, it at the same time presents a case for economic rights and political rights as short-run and long-run development priorities respectively. By reconciling the WC with the BM, the study contributes at the same to macroeconomic NSE literature of unifying a development theory and to the LIP literature on institutional preferences with stages of development. Hence, the proposed reconciliation takes into account the structural and institutional realities of nations at difference stages of the process of development.

• Item Type: MPRA Paper
• Language: English
• Keywords: Economic thought; Development; Beijing model; Washington Consensus; Africa
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B1 - History of Economic Thought through 1925 > B10 - General; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O11 - Macroeconomic Analyses of Economic Development; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O19 - International Linkages to Development ; Role of International Organizations; O - Economic Development, Innovation, Technological Change, and Growth > O5 - Economywide Country Studies > O55 - Africa

References

Acemoglu, D., Johnson, S., & Robinson, J., (2005). “Institutions as a Fundamental Cause of Long-Run Growth”. In Handbook of Economic Growth, Vol. 1, Part A. North Holland: Elsevier.

Adedeji, A., (1999). “Structural Adjustment Policies in Africa”. International Social Science Journal, 51(162), pp. 521-28.

Adekunle, B., & Gitau, C. M. W., (2013). “Illusion or Reality: Understanding the Flow Between China and Sub-Saharan Africa”, Journal of African Business, 14(2), pp. 117-126.

Ademola, O. T., Bankole, A. S., & Odewuyi, A. O., (2009). “China-Africa Trade Relations: Insights from AERC Scoping Studies”, The European Journal of Development Research, 21(4), pp. 485-505.

Ajakaiye, O., & Kaplinsky, R., (2009). “China in Africa: A Relationship in Transition”, European Journal of Development Research, 21(4), pp. 479-484.

Akomolafe, F., (2008). “No one is laughing at the Asians anymore: Femi Akomolafe on the lessons Africa can learn from China: Stop listening to the West and your economic dreams will come true”, New Africa.

Alden, C., (2006). “China in Africa”, Survival: Global Politics and Strategy, 47(3), pp. 147-164.

Alden, C., & Alves, C., (2008). “History & Identity in the Construction of China's Africa Policy”, Review of African Political Economy, 35(115), pp. 43-58.

Alden, C., Large, D., & Soares de Oliveira, R., (Eds.) (2008). China returns to Africa: A superpower and a continent embrace. London: Hurst.

Alves, P., (2006). Engaging Asia’s Biggest Tiger: Exploring the contours of a SACU-China trade deal. Trade Policy Report No. 14, South African Institute of International Affairs, Johannesburg.

Ancharaz, V., (2009). “David V. Goliath: Mauritius Facing Up to China”, European Journal of Development Research, 21(4), pp. 622-643.

Anyanwu, J., & Erhijakpor, A. E. O., (2014). “Does Oil Wealth Affect Democracy in Africa?”, African Development Review, 26(1), pp. 15-37.

Amavilah, V. H., (2014). “Sir W. Arthur Lewis and the Africans: Overlooked Economic Growth Lessons”, MPRA Paper No. 57126.

Artadi, E., & Sala-i-Martin, X., (2003). “The Economic Tragedy of the 20th Century: Growth in Africa”. NBER Working Paper 9865. Cambridge, MA: National Bureau of Economic Research.

Arthur L., (1955). Theory of Economic Growth. Milton Park: Routledge.

Asche, H., & Schüller, M., (2008). “China’s engagement in Africa: opportunities and risks for development”, Africa Department, Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ) GmbH.

Askouri, A., (2007). China’s Investment in Sudan: Displacing Villages and Destroying Communities, in Manji and Marks (eds), pp. 71-86.

Asongu, S. A., (2012). “Government Quality Determinants of Stock Market Performance in African Countries”, Journal of African Business, 13(3), pp. 183-199.

Asongu, S. A., (2014a). “Globalization (fighting) corruption and development: how are these phenomena linearly and nonlinearly related in wealth effects”, Journal of Economic Studies, 41(3), pp. 346-369.

Asongu, S. A., (2014b). “On taxation, political accountability and foreign aid: empirics to a celebrated literature”, South African Journal of Economics: Forthcoming.

Asongu, S. A., (2014c). “Sino-African relations: a review and reconciliation of dominant schools of thought”, African Governance and Development Institute Working Paper.

Asongu, S. A., (2014d). “Fighting African Capital Flight: Empirics on Benchmarking Policy Harmonization”, The European Journal of Comparative Economics, 11(2), pp. 93-122.

Asongu, S. A., & Aminkeng, G. A. A., (2013). “The economic consequences of China-Africa relations: debunking myths in the debate”, Journal of Chinese Economic and Business Studies, 11(4), pp. 261-277.

Asongu, S. A., & Ssozi, J., (2014). “Sino-African relations: some solutions and strategies to the policy syndromes”, African Governance and Development Institute Working Paper.

Babatunde, M. A., (2013). “Sino-Africa Investment Relations: The Good, The Bad and The Ugly”, Asia Pacific and Globalisation Review, 3(1), pp. 1-23.

Baliamoune-Lutz, M., (2013). “Tunisia’s Development Experience: A Success Story?”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Bartels, F. L., Alladina, S. N., & Lederer, S., (2009), “Foreign Direct Investment in Sub-Saharan Africa: Motivating Factors and Policy Issues”, Journal of African Business, 10(2), pp. 141-162.

Besada, H., Wang, Y., & Whalley, J., (2008). “China‘s Growing Economic Activity in Africa”, Working Paper 14024, National Bureau of Economic Research, Cambridge.

Biggeri, M., & Sanfilippo, M., (2009). “Understanding China’s move into Africa: an empirical analysis”, Journal of Chinese Economic and Business Studies,7(1), pp. 31-54.

Boyce J. K., & Ndikumana L., (2008), ‘New Estimate of Capital Flight from Sub-Saharan AfricanCountries: Linkages with External Borrowing and Policy Option”, PERI Working Paper No. 166, University of Massachusetts Amherst, USA.

Boyce J. K.,& Ndikumana L. (2011), ‘Capital flight from sub-Saharan Africa: linkages with external borrowing and policy options’, International Review of Applied Economics, 25(2), 149-170.

Boyce J. K., & Ndikumana L. (2012a), ‘Capital Flight from Sub-Saharan African Countries: Updated Estimate, 1970-2010’, Political Economy Research Institute, University of Massachusetts. http://www.peri.umass.edu/fileadmin/pdf/ADP/SSAfrica_capitalflight_Oct23_2012.pdf (accessed: 01/08/2014).

Boyce J. K., & Ndikumana L. (2012b), ‘Rich Presidents of Poor Nations: Capital Flight from Resource-Rich Countries in Africa’, Political Economy Research Institute, University of Massachusetts. http://concernedafricascholars.org/wp-content/uploads/2012/11/caploss01-ndiku-14th.pdf (accessed: 01/08/2014).

Brenton, P., & Walkenhorst, P., (2010). “Impact of the Rise of China on Developing Country Trade: Evidence from North Africa”, African Development Review, 22(1), pp. 577-586.

Breslin, S., & Taylor, I., (2008). “Explaining the Rise of ‘Human Rights’ in Analyses of Sino-African Relations”, Review of African Political Economy, 35(115), pp. 59-71.

Brett, E., (2009). Reconstructing Development Theory: International Inequality, Institutional Reform andSocial Emancipation. Basingstoke: Palgrave Macmillan.

Brooks, A., (2010). “Spinning and Weaving Discontent: Labour Relations and the Production of Meaning at Zambia-China Mulungushi Textiles”, Journal of Southern African Studies, 36(1), pp. 113-132.

Buckley, L., (2013). “Chinese Land-Based Interventions in Senegal”, Development and Change, 44(2), pp. 429-450.

Bujra, A., (2004). “Pan-African Political and Economic Vision of Development: From OAUto the AU, from the Lagos Plan of Action (LPA) to the New Partnership for African Development (NEPAD)”. DPMF Occasional Paper 13. Addis Ababa: Development Policy Management Forum.

Cardoso, E., (2013). “Between Past and Future of Latin America: Lessons from Brazil, Chile, Costa Rica and the Dominican Republic ”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Carmody, P., (2009). “An Asian Driven Economic Recovery in Africa? The Zambian Case”. World Development, 37(7), pp. 1197-1207.

Carmody, P., & Owusu, F., (2007). “Chinese vs. America geoeconomic strategies in Africa”, Political Geography, Political Geography, 26, pp. 504-524.

Chang, H-J., (2002). Kicking Away the Ladder: Development Strategy in Historical Perspective. London: Anthem.

Chemingui, M. A., & Bchir, M. H., (2010). “The Future of African Trade with China under Alternative Trade Liberalisation Schemes”, African Development Review, 22(1), pp. 562-576.

Clinton, H. R., (2011, June). “Interview on Africa 360”, U.S Department of State, Diplomacy in Action http://www.state.gov/secretary/rm/2011/06/165941.htm(Accessed on 16/08/2012).

Darley, W. K., (2012), “Increasing Sub-Saharan Africa's Share of Foreign Direct Investment: Public Policy Challenges, Strategies, and Implications”, Journal of African Business, 13(1), pp. 62-69.

De Grauwe, P., Houssa, R., & Picillo, G., (2012). “African trade dynamics: is China a different trading partner? ”, Journal of Chinese Economic and Business Studies, 10(1), pp. 15-45.

De Mello, L., (2013). “Brazil’s Growth Performance: Achievements and Prospects”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Diaw, D., & Lessoua, A., (2013). “Natural Resources Exports, Diversification and Economic Growth of CEMAC countries: On the Impact of Trade with China”, African Development Review, 25(2), pp. 189-202.

Drine, I., (2013). “‘Successful’ Development Models: Lessons from the MENA Region”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Drogendijk, R., & Blomkvist, K., (2013). “Drivers and Motives for Chinese Outward Foreign Direct Investment in Africa”, Journal of African Business, 14(2), pp. 75-84.

Duclos, V., (2011). “The Rise of China and India in Africa: Challenges, Opportunities and Critical Interventions”, Review of African Political Economy, 38(129), pp. 506-507.

Edinger, H., (2008). “China‘s Commercial Relationship with Africa: Evaluating Special Economic Zones”, presented at the Institute for West Asian and African Studies (IWAAS), Chinese Academy of Social Sciences, Beijing, China, 15th April 2008.

Elu, J. U., & Price, G. N., (2010). “Does China Transfer Productivity Enhancing Technology to Sub-Saharan Africa? Evidence from Manufacturing Firms”, African Development Review, 22(1), pp. 587-598.

Fitzgerald, A., (2013). “Why won’t the West call out Saudi Arabia for persecution of democratic activists”, The Guardian. http://www.theguardian.com/commentisfree/2013/dec/29/saudi-arabia-us-human-rights-persecution-activists (Accessed: 01/08/2014)

Fofack, H., (2014). “The Idea of Economic Development: Views from Africa”, WIDER Working Paper 2014/093.

Fofack , H., & Ndikumana, L., (2010). “Capital Flight Repatriation: Investigation of its Potential Gains for Sub-Saharan African Countries”. African Development Review, 22(1), pp. 4-22.

Fofack , H., & Ndikumana, L., (2014). “Capital Flight and Monetary Policy in African Countries”, Forthcoming AERC Working Paper.

Fosu, A., (2010), “Africa’s Economic Future: Learning from the Past”, CESifo Forum, Info Institute for Economic Research at the University of Munich, 11(1), pp. 62-71.

Fosu, A., (2012), “Development Success: Historical Accounts from More Advanced Countries”, UNU-WIDER Research Paper.

Fosu, A., (2013a), “Achieving development success: Strategies and lessons from the developing world”, UNU-WIDER Policy Brief (November).

Fosu, A., (2013b). “Country Role Models for Development Success: The Ghana Case”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Fosu, A., (2013c), “Growth of African Economies: Productivity, Policy Syndromes and the Importance of Institutions”, Journal of African Economies, 22(4), pp. 523-551.

Fosu, A. K., (2014). “Growth, Inequality and Poverty in Sub-Saharan Africa: Recent Progress in a Global Context”, CSAE Working Paper Series 2014-17.

Freschi, L., (2010). “China in Africa myths and realities”, AIDWATCH http://aidwatchers.com/2010/02/china-in-africa-myths-and-realities/ (accessed on: 01/08/2014).

Friedman, E., (2009). “How Economic Superpower China Could Transform Africa”, Journal of Chinese Political Science, 14(1), pp. 1-20.

Gaye, A. (2006). “Chine – Afrique: Le dragon et l’autruche. Essai d’analyse de l’évolution contrastée des relations sino-africaines: sainte ou impie alliance du XXIème siècle? ” L’Harmattan, Paris.

Giovannetti, G., & Sanfilippo, M., (2009). “Do Chinese Exports Crowd-out African Goods? An Econometric Analysis by Country and Sector”, European Journal of Development Research, 21(4), pp. 506-530.

Goldstein, A., Pinaud, N., Reisen, H., & Chen, X. (2006). “The rise of China and India: What’s in it for Africa? ”. Paris: OECD Development Centre.

Gu, J., (2009). “China’s Private Enterprises in Africa and Implications for African Development”, European Journal of Development Research Special Issue, 24(4), pp. 570-587.

Guerroro, D. G., & Manji, F., (2008). China’s new role in Africa and the South: A search for a new perspective. Cape Town, Nairobi and Oxford: Fahamu and Focus on the Global South.

Huang, Y., (2010). “Debating China's Economic Growth: The Beijing Consensus or the Washington Consensus”, Academy of Management Perspectives, 24(2), pp. 31-47.

Huliaras, A., & Magliveras, K., (2008). “In Search of a Policy: EU and US Reactions to the Growing Chinese Presence in Africa”, European Foreign Affairs Review, 13(3), pp. 399-420.

Jenkins, R., & Edwards, C., (2006). “The economic impacts of China and India on sub-Saharan Africa”, Journal of Asian Economics, 17, pp. 207-225.

Ji, B., (2010). “China’s economic recovery and the China model”, Journal of Chinese Economic and Business Studies,8(3), pp. 215-226.

Jomo, K. S., & Wee, C. H., (2013). “Lessons from Post-Colonial Malaysian Economic Development”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Jones, O. D., (2012). “Chinese Weapons Fuel African Conflicts, Despite Sanctions”, http://bigthink.com/ideafeed/chinese-weapons-fuel-african-conflicts-despite-sanctions (Accessed: 01/08/2014).

Kamwanga, J., & Koyi, G., (2009, November). “The impact of China-Africa Investment relations: the case of Zambia”, African Economic Research Consortium. http://dspace.africaportal.org/jspui/bitstream/123456789/32409/1/Zambiainvestmentrelations.pdf?1 (Accessed: 02/08/2014).

Kaplinsky, R., & Messner, D., (2008). “Introduction: The impact of the Asian drivers on the developing world”, World Development, 36(2), pp. 197–209.

Kaplinsky, R., & Morris, M., (2009). “Chinese FDI in Sub-Saharan Africa: Engaging with Large Dragons”, The European Journal of Development Research, 21(4), pp. 551-569.

Khan, H. A., (2013). “Development Strategies: Lessons from the Experiences of South Korea, Malaysia, Thailand and Vietnam”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Kiggundu, M. N., (2008). “A Profile of China‘s Outward Foreign Direct Investment to Africa”, Proceedings of the American Society of Business and Behavioral Sciences, 15, (1), pp. 130-144.

Kitissou, M. (Ed.) (2007). Africa in China’s global strategy. London: Adonis and Abbey.

Kolstad, I., & Wiig, A., (2011). “Better the Devil You Know? Chinese Foreign Direct Investment in Africa”, Journal of African Business, 12(2), 31-50.

Kragelund, P., (2009). “Part of the Disease Or Part of the Cure?” Chinese Investments in the Zambian Mining and Construction Sectors”, European Journal of Development Research, 21(4), pp. 644-661.

Kuo, S. C. Y., (2012). “Beijing's Understanding of African Security: Context and Limitations”, African Security, 5(1), pp. 24-43.

Kuznets, S., (1955). “Economic Growth and Income Inequality”, American Economic Review, 45, pp. 1-28.

Lall, S., Weiss, J., & Oikawa, H., (2005). “China’s Competitive Threat to Latin America: An Analysis for 1990-2002”, Oxford Development Studies, 33(2), pp. 163-194.

Lalountas, D.A., Manolas, G.A., & Vavouras, I.S., (2011), “Corruption, globalization and development: How are these three phenomena related?”, Journal of Policy Modeling, 33, pp.636-648.

Large, D., (2008). “China & the Contradictions of ‘Non-interference’ in Sudan”, Review of African Political Economy, 35(115), pp. 93-106.

Lee, K., (2013), “How can Korea be a Role Model for Catch-up Development? A ‘Capability-based’ View”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Lin, X., & Farrell, C., (2013). “The Internationalization Strategies of Chinese State and Private State Enterprises in Africa”, Journal of African Business, 14(2), pp. 85-95.

Lin, J., & Monga, C., (2011). “Growth Identification and Facilitation : The Role of the State in the Dynamics of Structural Change”. Development Policy Review, 29(3), pp. 264-90.

Looney, R. E., (2013). “The Omani and the Bahraini Paths to Development: Rare and Contrasting Oil-Based Economic Success Stories”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Lundahl, M., & Petersson. L., (2013). “Post Apartheid South Africa: An Economic Story?”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Lyman, Princeton N. (2005, 21 July). “China’s Rising Role in Africa”, Council on Foreign Relations, http://www.cfr.org/china/chinas-rising-role-africa/p8436 (Accessed: 02/01/2014).

Mawdsley, E. (2008). “Fu Manchu versus Dr Livingstone in the Dark Continent? How British broadsheet newspapers represent China, Africa and the West”, Political Geography, 27, pp. 509-529.

McCormick, D., (2008). “China & India as Africa's New Donors: The Impact of Aid on Development”, Review of African Political Economy, 35(115), pp. 73-92.

Menell, N., (2010). “China and Africa: The New Neocolonialism?” Helen Suzman Foundation.

Mkandawire, T., (2004). ‘Can Africa have Development States?’. In Simon Bromley et al. (eds), Making the International: Economic Interdependence and Political Order. London: Pluto Press(in association with Open University).

Mohan, G., (2013). “Beyond the Enclave: Towards a Critical Political Economy of China and Africa”, Development and Change, 44(6), pp. 1255–1272.

Mohan, G., & Lampert, B., (2010). “Negotiating China: Reinserting African agency into China-Africa relations”, African Affairs, 112(446), pp. 92-110.

Mohan, G., & Tan-Mullins, M., (2009). “Chinese Migrants in Africa as New Agents of Development? An Analytical Framework”, European Journal of Development Research, 21(4), pp. 588-605.

Mohan, G., & Power, M., (2008). “New African Choices? The Politics of Chinese Engagement”, Review of African Political Economy, 35(115), pp. 23-42.

Moreira, M., M., (2007). “Fear of China: Is There a Future for Manufacturing in Latin America?”, World Development, 35(3), pp. 355-376.

Moyo, D., (2013). “Is China a new idol for developing countries”, TED Talks, New Ideas Every day, https://www.youtube.com/watch?v=4Q2aznfmcYU (Accessed: 07/05/2014).

Muneku, A., & Koyi, G., (2008). “The Social Economic Impact of Asian FDI in Zambia”, Friedrich Ebert Stiftung, Lusaka.

Munemo, J., (2013). “Examining Imports of Capital Goods From China as a Channel for Technology Transfer and Growth in Sub-Saharan Africa”, Journal of African Business, 14(2), pp. 106-116.

Naudé, W., (2013). “Development Progress in Sub-Saharan Africa: Lessons from Botswana, Ghana, Mauritius and South Africa”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Ndjio, B., (2009). “ ‘Shanghai Beauties’ and African Desires: Migration, Trade and Chinese Prostitution in Cameroon”, European Journal of Development Research, 21(4), pp. 606-621.

Nijs, A., (2008, November). “Chinese model of development suits 21st century”, Xinhua News Agency (accessed on: 16/08/2012). http://www.china.org.cn/business/news/2008-11/07/content_16728807_2.htm

Norman, A., & Stiglitz, J., (2012). ‘African Development Prospects and Possibilities. In E. Aryeetey et al. (eds), The Oxford Companion to the Economics of Africa. Oxford: Oxford University Press.

North, D., (1990). Institutions, Institutional Change and Economic Performance. Cambridge and New York : Cambridge University Press.

Nyarko, Y., (2013). “The United Arab Emirates: Some Lessons in Economic Development”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Ortmann, S., (2012). “The ‘Beijing consensus’ and the ‘Singapore model’: unmasking the myth of an alternative authoritarian state-capitalist model”, Journal of Chinese Economic and Business Studies, 10(4), pp. 337-359.

Osei, B., & Mubiru, A. M., (2010, July). “Chinese Trade and Investment Activities in Africa”, African Development Bank’s Policy Brief, 1 (4), pp. 1-12.

Ovadia, J. S., (2013). “Accumulation with or without dispossession? A ‘both/and’ approach to China in Africa with reference to Angola”, Review of African Political Economy, 40(136), pp. 233-250.

Organisation of African Unity (OAU) (1980). Lagos Plan of Action for the Economic Development of Africa. Addis Ababa: OAU. OAU (2001). The New Partnership for African Development (NEPAD). Addis Ababa: OAU.

Piketty, T., (2014). “Capital in the Twenty First Century”, Harvard University Press.

Rodrik, D., (2008). One Economics, Many Recipes: Globalization, Institutions and Economic Growth. Princeton: Princeton University Press.

Sanfilippo, M., (2010). “Chinese FDI to Africa: What Is the Nexus with Foreign Economic Cooperation?”, African Development Review, 22(1), pp. 599-614.

Schiere, R., (2010). “Building Complementarities in African between Different Development Cooperation Modalities of Traditional Development Partners and China”, African Development Review, 22(1), pp. 615-628.

Schiere, R., & Walkenhorst, P., (2010). “Introduction: China’s Increasing Engagement in Africa: Towards Stronger Trade, Investment and Development Cooperation”, African Development Review, 22(1), pp. 559-561.

Sobukwe, R., (1959). “Robert Sobukwe Inugaural Speech, April 1959”, South African History Online. http://www.sahistory.org.za/archive/robert-sobukwe-inaugural-speech-april-1959 (Accessed: 07/08/2014).

Stiglitz, J., & Lin, J., (eds.), (2013). The Industrial Policy Revolution I: The Role of GovernmentBeyond Ideology. New York, Palgrave Macmillan.

Stiglitz, J., Lin, J., & Monga , C., (2013a). ‘The Rejuvenation of Industrial Policy’, Policy Research Working Paper 6628. Washington, DC: World Bank.

Stiglitz, J., Lin, J., Monga , C., & Patel, E., (2013b). “Industrial Policy in the African Context”. Policy Research Working Paper 6633. Washington, DC: World Bank.

Taylor, I., (2006). “China’s oil diplomacy in Africa”, International Affairs, 82(5), pp. 937-959.

Taylor, I., (2007). “Governance in Africa and Sino-Africa Relations: Contradictions or Confluence?”, Politics, 27(3), pp. 139-146.

Tull, D. M., (2006). “China’s engagement in Africa: scope, significance and consequences”, The Journal of Modern African Studies, 44(3), pp. 459-479.

Tuomi, K., (2011). “The Role of the Investment Climate and Tax Incentives in the Foreign DirectInvestment Decision: Evidence from South Africa”, Journal of African Business, 12(1),pp.133-147.

Power, R., (2008). “What Does the Rise of China Do for Industrialisation in Sub-Saharan Africa?”, Review of African Political Economy, 35(115), pp. 7-22.

Power, M., & Mohan, G., (2010). “Towards a Critical Geopolitics of China's Engagement with African Development”, Geopolitics and Development, 15(3), pp. 462-495.

Pozo, S., Sanchez-Fung, J., & Santos-Paulino, A. U., (2013). “Economic Development Strategies in the Dominican Republic”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Renard, M. F., (2011, May), “China’s trade and FDI in Africa”, African Development Bank Working Paper No. 126.

Robinson, D. A., (2009). “Hearts, Minds and Wallets: Lessons from China’s Growing Relationship with Africa”, Journal of Alternative Perspectives in the Social Sciences, 1(3), pp. 861-869.

Robinson, J., (2013). “Botswana as a Role Model for Country Success”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Santos-Paulino, A. U., (2013). “Country Role Model of Development Success: Lessons from China and India ”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Singh, N., (2013). “Democracy, Diversity and Development: India’s Strategy and Outcomes”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Solimano, A., (2013). “Three Decades of Neoliberal Economics in Chile: Achievements, Failures and Dilemmas”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Subramanian, A., (2013). “The Mauritian Success Story and Its Lessons”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Taylor, I., (2006). “China’s oil diplomacy in Africa”, International Affairs, 82(5), pp. 937-959.

Taylor, I., (2007). “Governance in Africa and Sino-Africa Relations: Contradictions or Confluence?”, Politics, 27(3), pp. 139-146.

Thoburn, J., (2013). “Vietnam as a Role Model for Development”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Trejos, A., (2013). “Country Role Models for Development Success: The Case of Costa Rica”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Tull, D. M., (2006). “China’s engagement in Africa: scope, significance and consequences”, The Journal of Modern African Studies, 44(3), pp. 459-479.

United Nations (2010, January). “Foreign land purchases for agriculture: what impact on sustainable development?”, Sustainable Development and Innovation Briefs Issue No. 8.

UNCTAD (2005). Economic Development in Africa. Rethinking the Role of Foreign Direct Investment, Geneva.

Villoria, N., (2009). “China's Growth and the Agricultural Exports of Sub-Saharan Southern Africa”, European Journal of Development Research, 21(4), pp. 531-550.

Wang, L., & Zheng, J., (2010). “China and the changing landscape of the world economy”, Journal of Chinese Economic and Business Studies, 8(3), pp. 203-214.

Wang, L., & Zheng, J., (2012). “China’s rise as a new paradigm in the world economy: preliminaries”, Journal of Chinese Economic and Business Studies, 10(4), pp. 301-312.

Warr, P., (2013). “Thailand’s Development Strategy and Growth Performance”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Wei, P., (2007, October). “The Chinese Model of Development”, Center for Chinese and Global Affairs, Peking University.

Wei, W. X., (2013). “Special Issue: Chinese Trade and Investment in Africa”, Journal of African Business, 14(2), pp. 72-74.

Wei, Y., & Wang, C., (2009), “Understanding China’s international economic integration”, Journal of Chinese Economic and Business Studies,7(4), pp. 401-408.

Wissenbach, U., (2009). “The EU’s Response to China’s Africa Safari: Can Triangular Co-operation Match Needs?”, European Journal of Development Research, 21(4), pp. 21(4), pp. 662-674.

World Bank (2011). “Improving the Odds of Achieving the MDGs: Heterogeneity, Gaps and Challenges”. Global Monitoring Report 2011. Washington, DC: World Bank.

Wouterse, F., Deininger, K., Selod, H., Badiane, O., Swinnen, J., Von Braun, J., & Zilberman, D., (2011). “Foreign Direct Investment in Land in West Africa: The Status Quo, Lessons from Other Regions, Implications for Research”, West & Central Africa Office Thematic Research Note 1.

Wu, Z., & Cheng, E., (2010). “Poverty Alleviation in the People’s Republic of China: The Implications for Sino-African Cooperation in Poverty Reduction”, African Development Review, 22(1), pp. 629-643.

Yao, Y. E., (2013). “The Disinterested Government: An Interpretation of China’s Economic Success in the Reform Era ”, In Achieving Development Success: Strategies and Lessons from the Developing World, ed. Fosu, A., Oxford University Press.

Zhang J., Wei, W. X., & Liu, Z., (2013), “Strategic Entry and Determinants of Chinese Private Sector Enterprises in Africa”, Journal of African Business, 14(2), pp. 96-105.

Zhou, Q., (2005). “Conflicts over Human Rights Between China and the US”, Human Rights Quarterly, 27(1), pp. 105-124.

Zhu, Y., (2010). “Trade, capital flows and external balance: is China unique in two hundred years of globalization?”, Journal of Chinese Economic and Business Studies,8(1), pp. 1-22.