[stop-imf] CEPR Releases New Scorecard on Development

[robert weissman]

CENTER FOR ECONOMIC AND POLICY RESEARCH

For Immediate
Release:
September 21, 2005

Economists Document Long-Term Growth Fall-Off for Developing Countries,

Suggest Topic for IMF/World Bank Fall Meetings

Progress in Health Outcomes, Education Also Reduced

Washington, DC: The last 25 years have seen sharply reduced economic
growth and reduced progress in health and education outcomes for low-
and middle-income countries in comparison with previous decades, as
documented in a new paper by the Center for Economic and Policy Research.

"The official data show a very different picture than most policy-makers
and the public have in mind," said economist Mark Weisbrot, Co-Director
of CEPR and co-author of the report.

"The number one question for the IMF and World Bank at their fall
meetings this weekend should be: what has gone wrong over the last 25
years in the vast majority of developing countries?

The paper, "The Scorecard on Development: 25 Years of Diminished Progress"
http://www.cepr.net/publications/development_2005_09.pdf

compares the last 25 years (1980-2005) with the prior two decades
(1960-1980) on:

- Growth (GDP per capita)

- Health outcomes  (life expectancy, mortality rates for adults,
children, and infants)

- Education (public spending on education, school enrollment rates,
literacy)

             The paper finds a sharp slowdown in growth of GDP per capita
and reduced progress for the vast majority of countries on almost all of
the social indicators. The paper also briefly addresses the possible
reasons for this economic failure, as well as the exceptional successes
of China and India over the last 25 years.

The Center for Economic and Policy Research (CEPR) is a non-partisan,
non-profit policy institute that was established to promote democratic
debate on the most important economic and social issues that affect
people's lives.

CEPR's Advisory Board of Economists includes Nobel Laureate Economists
Robert Solow and Joseph Stiglitz, and Richard Freeman, Professor of
Economics at Harvard University.

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