For undergraduates studying economic development, combines a comprehensive coverage of the theories of economic development with a thorough treatment of the issues involved in the process of sustained economic growth and development. Assumes an intermediate course in economic theory or a very good c
Economic development has been for many years the dominant national policy objective of the countries in the Third World, but there has been little consensus on the goals and definitions of development. Focusing on the era since World War II, H. W. Arndt traces the history of thought about economic development to show readers, in nontechnical terms, what the development objective has meant to political and economic theorists, policymakers, and politicians from Adam Smith to Ayatollah Khomeini.
E. Wayne Nafziger analyzes the economic development of Asia, Africa, Latin America, and East-Central Europe. The book is suitable for those with a background in economics principles. Nafziger explains the reasons for the recent fast growth of India, Poland, Brazil, China, and other Pacific Rim countries, and the slow, yet essential, growth for a turnaround of sub-Saharan Africa. The fifth edition of the text, written by a scholar of developing countries, is replete with real-world examples and up-to-date information. Nafziger discusses poverty, income inequality, hunger, unemployment, the environment and carbon-dioxide emissions, and the widening gap between rich (including middle-income) and poor countries. Other new components include the rise and fall of models based on Russia, Japan, China/Taiwan/Korea, and North America; randomized experiments to assess aid; an exploration of whether information technology and mobile phones can provide poor countries with a shortcut to prosperity; and a discussion of how worldwide financial crises, debt, and trade and capital markets affect developing countries.
Consumer Services have been viewed as parasitic activities, dependent on other sectors of the economy for their viability and vitality. Yet local economic policy is now looking towards consumer services to solve severe economic problems. The rapid expansion of the service sector is now a principal feature of contemporary global economic restructuring. Consumer Services and Economic Development evaluates the contributions that consumer services can make to local economic development and revitalisation. A broad range of consumer service industries are examined in turn: tourism, sports, universities, retailing and cultural industries. Detailed local case studies illustrate the role, impact and effectiveness of consumer services in economic regeneration in a number of different contexts: the global city, contrsting urban areas and rural localities. With many localities in the advanced economies suffering from severe deindustrialisation and weak producer service growth, this book highlights the need for a fundamental rethink of both the function of services and of economic development theory and practice in general.
There is much discussion about global poverty and the billions of people living with almost nothing. Why is it that governments, development banks, think-tanks, academics, NGOs and many others can't just fix the problem? Why is it that seemingly obvious reforms never happen? Why are prosperity and equity so elusive? The revised second edition of Economic Development: What Everyone Needs to Know® brings readers right into the trenches of development policies to show what practitioners are actually doing and explains the issues, dilemmas, options, frustrations and opportunities they face, day in and day out. In straightforward language and a question-and-answer format, Marcelo M. Giugale outlines the frontier of the development practice or, as he puts it, "...the point at which knowledge stops and ignorance begins." He takes readers from why it is so difficult to get governments to function, to the basic policies that economies need to work well, the powerful new tools for social assistance, and the challenges of inclusion, education, health, infrastructure, technology, data, and foreign aid. Giugale gives no definitive, universal answers. They don't really exist. Rather, he highlights what works, what doesn't, and what's promising. Drawing from examples across the world, his overall message is clear: economic development, and the poverty reduction that goes with it, have never been more possible for more countries.
Since the 1960s the per capita incomes of the resource-poor countries have grown significantly faster than those of the resource-abundant countries. In fact, in recent years economic growth has been inversely proportional to the share of natural resource rents in GDP, so that the small mineral-driven economies have performed least well and the oil-driven economies worst of all. Yet the mineral-driven resource-rich economies have high growth potential because the mineral exports boost their capacity to invest and to import. "Resource Abundance and Economic Development" explains the disappointing performance of resource-abundant countries by extending the growth accounting framework to include natural and social capital. The resulting synthesis identifies two contrasting development trajectories: the competitive industrialization of the resource-poor countries and the staple trap of many resource-abundant countries. The resource-poor countries are less prone to policy failure than the resource-abundant countries because social pressures force the political state to align its interests with the majority poor and follow relatively prudent policies. Resource-abundant countries are more likely to engender political states in which vested interests vie to capture resource surpluses (rents) at the expense of policy coherence. A longer dependence on primary product exports also delays industrialization, heightens income inequality, and retards skill accumulation. Fears of 'Dutch disease' encourage efforts to force industrialization through trade policy to protect infant industry. The resulting slow-maturing manufacturing sector demands transfers from the primary sector that outstrip the natural resource rents and sap the competitiveness of the economy. The chapters in this collection draw upon historical analysis and models to show that a growth collapse is not the inevitable outcome of resource abundance and that policy counts. Malaysia, a rare example of successful resource-abundant development, is contrasted with Ghana, Bolivia, Saudi Arabia, Mexico, and Argentina, which all experienced a growth collapse. The book also explores policies for reviving collapsed economies with reference to Costa Rica, South Africa, Russia and Central Asia. It demonstrates the importance of initial conditions to successful economic reform.
This classic text by Ester Boserup was the first investigation ever undertaken into what happens to women in the process of economic and social growth throughout the developing world, thereby serving as an international benchmark. In the context of the ongoing struggle for women's rights, massive urbanization and international efforts to reduce poverty, this book continues to be a vital text for economists, sociologists, development workers, activists and all those who take an active interest in women's social and economic circumstances and problems throughout the world.
This books presents a theory of economic development very different from the "stages of growth" hypothesis or strategies emphasizing foreign aid, trade, or regional association. Leaving these aside, the author breaks new ground by focusing on the use of domestic capital markets to stimulate economic performance. He suggests a "bootstrap" approach in which successful development would depend largely on policy choices made by national authorities in the developing countries themselves. Central to his theory is the freeing of domestic financial markets to allow interest rates to reflect the true scarcity of capital in a developing economy. His analysis leads to a critique of prevailing monetary theory and to a new view of the relation between money and physical capital—a view with policy implications for governments striving to overcome the vicious circle of inflation and stagnation. Examining the performance of South Korea, Taiwan, Brazil, and other countries, the author suggests that their success or failure has depended primarily on steps taken in the monetary sector. He concludes that monetary reform should take precedence over other development measures, such as tariff and tax reform or the encouragement of foreign capital investment. In addition to challenging much of the conventional wisdom of development, the author's revision of accepted monetary theory may be relevant for mature economies that face monetary problems.
An invaluable survey of the literature on growth. Colin White argues persuasively and expertly that any attempt to solve the profound mystery of economic growth at the large scales of world history must move beyond the limited vision of neo-classical economic theory, and incorporate the narrative methods and perspectives of history as well. This is a superb overview and critique of contemporary attempts to explain economic growth, and a perceptive re-examination of the whole issue of growth in human history. David Christian, Macquarie University, Australia Colin White transcends a number of false dichotomies in this work. He shows that we need both theory and history in order to comprehend the transition to modern economic growth. He appreciates that this transition was neither inevitable as many theorists argue nor entirely contingent as historical treatments often suggest. He argues that advice to present-day less developed countries should combine a general understanding of the process of transition with detailed analysis of the history and conditions of the country in question. He appreciates that it makes sense to speak of an Industrial Revolution while also recognizing that this was a gradual process that in turn built upon even more gradual changes in earlier centuries in the British economy. Less obviously but importantly he realizes that we can best understand economic growth if we recognize the limitations of each scholarly approach in order to integrate the best of these. Rick Szostak, University of Alberta, Canada This fascinating book considers one of the most important problems in economics: the inception of modern economic development. There is at present no satisfactory explanation of the inception of modern economic development; an excessive focus on either pure theory or on unique histories limits the explanatory power. This book realises the need to integrate the two approaches, moving beyond the proximate causes of economic theory to review the role in an analytic narrative of significant ultimate causes geography, risk environments, human capital, and institutions. Colin White distils the conclusions of a vast literature, drawing from economics, economic history and business and management, exploring economic theory, demonstrating limitations and highlighting alternative approaches. Particular attention is paid to the appropriate role of innovative entrepreneurs and of government, and three case studies illustrate how to build an analytic narrative. Showing how far we can generalise about the determinants of economic development and in particular how to understand the specific determinants in individual countries, this book will prove a stimulating and thought provoking read to academics, students and researchers with an interest in economics and economic development.
A major concern of all decision makers has been to ensure that there are clear benefits from transport investment proposals. The travel time savings are clear, but the wider economic developments have presented enormous difficulty in terms of both theoretical arguments and empirical evidence. This book reviews the history of the debate and argues that the agenda has changed. These issues are presented together with a major analytical investigation of macroeconomic models, evaluation in transport and microeconomic approaches. The final part of the book presents a series of case studies for road, rail and airport investment schemes, particularly focusing on the economic development aspects.
"Economic Development presents theory in the context of policy debates, so you see how theory and applied studies relate to the problems and prospects of developing countries. In the Tenth Edition, the authors integrate new discussions of recent thinking in areas such as environmental resources, gender, governance, inequality and poverty, and microfinance." -- Back cover.
An assessment of incentives and policy instruments available within Europe to encourage good practice, and a discussion of how to achieve environmental gain in regional economic programmes. The book describes appropriate methodology for securing improved environmental benefit.
In April 1992, the world witnessed a renewal in South Central Los Angeles of the urban violence that exploded over a quarter of a century earlier. As in 1965, the spark that ignited the firestorm was Black rage over police brutality. But in both eras the tinder was prepared by decades of social neglect and political disenfranchisement that have left the predominantly non-white urban poor trapped and virtually without hope. Race, Politics, and Economic Development strips away the veneer of mass-media images to examine the underlying causes of Black urban poverty and to recommend means to escape the seemingly endless cycle of retributive violence that it spawns. The book brings together Black activists and scholars, including two former mayors of American cities, to analyse the theoretical and practical problems currently facing the Black community in the United States. The essays collected here are dominated by three key themes: that political influence, power, and wealth are major factors in determining social welfare policies directed at Blacks, the poor and the working class; that both liberal and conservative policies over the last fifty years are no longer effective in alleviating a growing human service crisis among Blacks; and that the political mobilization of impoverished sectors of the Black community is absolutely critical in resolving the problem of poverty in urban America. Drawing on new work in the social sciences, political theory, and economics, and also on the contributors' activist experiences, these essays represent a pathbreaking new agenda for the participation of grassroots Black leaders in developing and implementing urban policy. Contributors: Jeremiah Cotton, Julianne Malveaux, Mack H. Jones, Charles P. Henry, Walter Stafford, William Fletcher Jr., Eugene Newport, Sheila Ards, Jacqueline Pope, Keith Jennings, Lloyd Hogan, Richard Hatcher.
'. . . this volume is an excellent resource for those interested in the analysis of institutions' design and economic development. . .' - Oscar Alfranca, Progress in Development Studies The main theme of this study is the political economy of policy reform in less developed countries and post-socialist countries. Given the complexity of economic development and transition, Joachim Ahrens views failures in policy reform, poor public sector management, rent-seeking, corruption, and over-centralization as systematic, though not exclusive, instances of institutional failure.
This is an introductory survey of the history and recent development of Latin American economy and society from colonial times to the establishment of the military regime in Chile. In the second edition the historical perspective has been enlarged and important events since the Cuban Revolution, such as the agrarian reforms of Peru and Chile, the difficulties of the Central America Common Market and LAFTA, the acceleration of industrialisation in Brazil and the consolidation of the Cuban economy, are discussed. The statistical information has been extended to the early 1970s and the demographic data to 1975.