In his new book, 'Gambling on Development,' economist Stefan Dercon argues that the key to a low-resource country's success is not what you might think.
Blavatnik School of Government, University of OxfordThe harder thing is to get a coalition of forces in your country to make a shared commitment to actually do those things.
Bangladesh, for example, is a highly corrupt country. It has a weak state, and the politics are very unstable. But I think Bangladesh, while still in its early days of growth and development, has done remarkably well, especially for a country that was written off as a"basket case" by [former U.S. Secretary of State] Henry Kissinger in 1972.
The one that I know best is Ethiopia, where the bold move [of a development bargain] was made, but by a coalition of elite players who were dominated by one very small ethnic group. Between 2005 and 2020, Ethiopia tried really hard, and its economic ambitions and developmental ambitions were actually very good — so much so, that lots of countries, including the U.S., really liked dealing with Ethiopia.
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