 The Challenges of Measurement in Political EconomyKing Banaian, Marta Podemska and Bryan Roberts Chapter Chapter 1 in The Design and Use of Political Economy Indicators, 2008, pp 1-14 from Palgrave Macmillan Abstract: Abstract In March 2003, U.S. Treasury Undersecretary John Taylor went before the Senate Committee on Foreign Relations to testify for the Millennium Challenge Act (MCA) of 2003.1 MCA was a centerpiece of the Bush administration’s new vision for foreign aid. The vision was that there were three requirements to accelerate the growth of developing economies: there should be more aid; there should be incentives for better performance of these economies; and there had to be measurement of the results. Undersecretary Taylor proceeded to outline a series of measurements produced by governmental and nongovernmental agencies such as Freedom House, the World Bank Institute, the UN’s World Health Organization (WHO) and UNESCO, and the Heritage Foundation. Never before had foreign aid been driven by such measurements; the Bush administration promised $5 billion in new aid to be allocated according to these standards through a new private agency to be called the Millennium Challenge Corporation (MCC). The measure passed. Keywords: Political Economy; Monetary Policy; Trade Openness; Economic Freedom; Capital Flow (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-61662-2_1 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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