© 2017

Aid, Trade and Development

50 Years of Globalization


  • Analyses trade and aid policies over the last 50 years, coinciding with the beginning of the author's professional career and involvement in policy development, to the end point of the UN Millennium Development Goals

  • Draws from personal papers, memos and official documents

  • Of importance to students, researchers and development practitioners throughout the world


Table of contents

  1. Front Matter
    Pages i-xvii
  2. Constantine Michalopoulos
    Pages 1-7
  3. Constantine Michalopoulos
    Pages 9-33
  4. Constantine Michalopoulos
    Pages 35-52
  5. Constantine Michalopoulos
    Pages 53-89
  6. Constantine Michalopoulos
    Pages 91-125
  7. Constantine Michalopoulos
    Pages 127-163
  8. Constantine Michalopoulos
    Pages 165-205
  9. Constantine Michalopoulos
    Pages 207-237
  10. Constantine Michalopoulos
    Pages 239-281
  11. Constantine Michalopoulos
    Pages 283-313
  12. Constantine Michalopoulos
    Pages 315-335
  13. Back Matter
    Pages 337-353

About this book


“This is a very well written book, technically sound, and a great source of material for anyone who wants to understand the factors that have shaped much of international economics for the past half a century.”

—K.Y. Amoako, President of the African Center for Economic Transformation, Ghana 

“Thoroughly documented, insightful, interesting, lucid, Aid, Trade and Development is a major contribution to the debate on the great and delicate issues facing the world economy in the years to come.”

 —Salvatore Schiavo-Campo, former Senior Adviser at the Asian Development Bank, the Philippines 

“This book makes a unique contribution in documenting an important chapter of the history of development cooperation.”

 —Heidemarie Wieczorek-Zeul, former Federal Minister of Economic Cooperation and Development, Germany 

"In a broad sweep of the modern economic history underpinning aid, trade, and development, Michalopoulos manages to capture the most salient trends and does so in a thorough, perceptive and compelling fashion."

— Danny Leipziger, George Washington University, USA 

“Michalopoulos’ chapter on the Greek crisis is very elegant and well written, covering the ground comprehensively and fairly.”

 —George Papaconstantinou, former Greek Finance Minister 

“I highly recommend this book for anyone who wishes to understand the many stages of global development we have experienced in recent decades and how they may shape the future.”

—Alexander Shakow, former Senior Official at USAID and Deputy Secretary of the World Bank, USA 

This enlightening book offers a comprehensive historical analysis of the main development challenges of the last half century and the international community’s response through aid and trade. With 50 years of professional experience in the World Bank, the WTO and bilateral aid agencies, Michalopoulos brings an insider’s perspective on the workings of these institutions and what needs to be done to make them more effective and responsive to changing global needs. 

Constantine Michalopoulos has been a Visiting Scholar and Adjunct Professor of Economics at the Johns Hopkins University, USA, since 2012. Following his retirement from the World Bank he has served as advisor to governments and international organizations including the IMF, the World Bank, UNCTAD and the EU Commission.


Imports and exports Trade policy Commodity Trade Agreements Debt Relief The Washington Consensus World Trade System Central Planning Russia, Eastern Europe and the Balkans Commonwealth of Independent States (CIS) the Monterrey Conference The Doha Round Preferential Trade Agreements Millennium Development Goals Development Economics Poverty, Aid and Development Globalization World Bank World Trade Organization (WTO) Bilateral aid agencies Global poverty

Authors and affiliations

  1. 1.School of Advanced International StudiesJohns Hopkins UniversityWashington DCUSA

About the authors

Constantine Michalopoulos has been a Visiting Scholar and Adjunct Professor of Economics at the Johns Hopkins University, USA, since 2012. Michalopoulos was for many years an official of the World Bank holding a number of senior positions including Director for Economic Policy and Senior Advisor for Europe and Central Asia. He has also been Chief Economist of the US Agency for International Development, Special Advisor to the World Trade Organization and taught economics at several US universities. Following his retirement from the World Bank he has served as advisor to governments and international organizations including the IMF, the World Bank, UNCTAD, the EU Commission, GTZ and the UK DFID on trade, finance and development. He has written several books and over 100 articles and monographs on these subjects.

Bibliographic information

Industry Sectors
Finance, Business & Banking


“Michalopoulos’ book represents a thorough and thoughtful account of the myriad policy and analytical issues which lie at the crossroads of trade, aid and the development process. Its breadth of coverage and extensive bibliography after each chapter make it an important reference for students and practitioners of these matters, as well as for policymakers grappling with such issues.” (George Papaconstantinou, Southeast European and Black Sea Studies, November 11, 2018)