Development Economics and Re-construction of Developing Countries: Reflections and Insights

2020 ◽  
Author(s):  
Simant Shankar Bharti
Keyword(s):  
Developing Countries ◽  
Development Economics

The Importance of Being Defunct (Presidential Address)

1985 ◽  
Vol 24 (3-4) ◽  
pp. 211-234
Author(s):  
Syed Nawab Haider Naqvi
Keyword(s):  
Developing Countries ◽  
Development Economics ◽  
Developing World ◽  
Empirical Studies ◽  
Presidential Address ◽  
Great Expectations ◽  
Founding Fathers

For development economists these arc the days of great expectations. Development economics as a discipline, born only three decades ago, has come to stay, notwithstanding the threats to its existence issued openly by such friends as Schultz [63], Bauer [2], Little [44], and Lal [39]. New theoretical constructs have been devised and novel empirical studies done to comprehend better the forces of change in developing countries. While of late there may not have been great festivity in the realm of ideas, the force of circumstances has widened the problem canvas of development economics and has opened up new vistas for economists to explore- much beyond the expectations of its founding fathers. Also notwithstanding the great diversity in the experience of individual countries, development economists may legitimately draw some comfort from the thought that their ideas have changed the developing world for the better.

From Subsistence to Advanced Material Production

2015 ◽  
pp. 697-712
Author(s):  
G.P. Manish ◽  
Benjamin Powell
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Economic Development ◽  
Development Economics ◽  
Time Preference ◽  
Capital Formation ◽  
Central Planning ◽  
Economic Calculation ◽  
Advanced Material ◽  
Austrian Theory

This chapter provides a summary of the lessons that the Austrian theory of capital holds for the field of development economics. It provides an introduction to the concepts of the structure of production and time preference and a brief overview of how the rate of time preference limits both the available pool of savings and the extent of capital formation. The implications that this uniquely Austrian insight holds for the theory of economic growth are spelled out, in particular the fact that what constrains the growth of developing countries is not the availability of technology but the availability of savings to undertake investment. The chapter also provides a brief exposition of the concept of capital heterogeneity and its implications for the impossibility of economic calculation under a system of central planning. A critique of some popular models that advocate planning as a means of economic development is also provided.

scholarly journals Development Economics as Taught in Developing Countries

2015 ◽  
Author(s):  
David J. McKenzie ◽  
Anna Luisa Paffhausen
Keyword(s):  
Developing Countries ◽  
Development Economics

Did Keynes Go to Developing Countries?

2009 ◽  
pp. 31-52
Author(s):  
Claudia Sunna
Keyword(s):  
Developing Countries ◽  
Early Development ◽  
Development Economics

- This work examine the nature of the relation between Keynesianism and the theories of development economics, pinpointing the consistencies and differences existing between them. In this respect a Keynesian heritage is unquestionable and can even be discerned in the vicissitudes of many development economists' lives. At the same time, it must be acknowledged that some foundational concepts of the development debate cannot be ascribed to any Keynesian genealogy, and must rather be traced back to classical categories. The eclecticism of early development economics makes the so-called label of Keynesian consensus too narrow a concept.

scholarly journals Antidumping as a Development Issue

2011 ◽  
Vol 11 (3) ◽  
pp. 1850237 ◽  
Author(s):  
Robert M. Feinberg
Keyword(s):  
Developing Countries ◽  
Trade Policy ◽  
Development Economics ◽  
Developing Economies ◽  
Developed Economies ◽  
Development Issue ◽  
The Past ◽  
Economics Literature ◽  
Antidumping Policy

Antidumping policy was for many years an instrument employed almost exclusively by a small number of developed economies. Over the past 15 years, however, the use of this instrument of trade policy has spread to developing economies, and the overwhelming share of antidumping cases now involve developing countries either as petitioner or as target of these cases. This paper describes these trends in some detail and discusses some implications. A focus of the paper is the absence of discussion in the development economics literature on the topic despite the increasingly important role played by antidumping policy.

scholarly journals How Distortions Alter the Impacts of International Trade in Developing Countries

2020 ◽  
Vol 12 (1) ◽  
pp. 213-238
Author(s):  
David Atkin ◽  
Amit K. Khandelwal
Keyword(s):  
Developing Countries ◽  
International Trade ◽  
Development Economics ◽  
Recent Literature ◽  
Developed Countries ◽  
Market Failures ◽  
Trade Reforms ◽  
Weak Institutions

Substantial research in development economics has highlighted the presence of weak institutions, market failures, and distortions in developing countries. Yet much of the knowledge generated in international trade comes from workhorse models that abstract from these frictions. This review summarizes the recent literature that assesses how these characteristics interact (or may interact) with trade reforms, resulting in different impacts in developing countries relative to what we would expect in developed countries. We discuss understudied areas that warrant further research.

Truth is the Safest Lie

2019 ◽  
pp. 658-671
Author(s):  
Célestin Monga
Keyword(s):  
Developing Countries ◽  
Economic Development ◽  
Development Economics ◽  
Policy Making ◽  
Philosophical Perspective

This chapter examines some of the key elements of the knowledge accumulated in the field of development economics. It begins by challenging the dominant paradigms of development thinking, from a fundamental, philosophical perspective. To this end, the chapter uses the experiences of Ghana and other African and developing countries as examples to illustrate the analytical sins committed by development economists. It argues that the failures of those countries in terms of economic development is primarily due to the pervasiveness of bad ideas, which translate into bad advice by influential economists—those in the position to shape or influence policy making. Two major strategic mistakes of development economics are highlighted: first, the wrong model economy and reference and second, the wrong assumptions and preconditions. The chapter concludes with key recommendations for a more appropriate approach aimed at enriching and strengthening development thinking.

New structural economics: the third generation of development economics

2019 ◽  
Vol 9 (3) ◽  
pp. 279-286
Author(s):  
Justin Yifu Lin
Keyword(s):  
Developing Countries ◽  
Development Economics ◽  
Design Methodology ◽  
First Generation ◽  
Third Generation ◽  
Content Type ◽  
The Third ◽  
Two Generations ◽  
The Government ◽  
New Structural Economics

Purpose Development economics is a new sub-discipline in modern economics. The first generation of development economics is structuralism. The second generation of development economics is neoliberalism. Most developing countries followed the above two generations of development economics and failed to achieve industrialization and modernization. The purpose of this paper is to introduce the third generation of development economics, called new structural economics, which advises governments in developing countries to play a facilitating role in the development of industries in a market economy according to the country’s comparative advantages. The paper also discusses how the government may use industrial policies to play this facilitating role and some new theoretical insights from new structural economics. Design/methodology/approach The paper draws on the experiences of success and failure in developing countries to generate new understanding about the nature and causes of economic development in developing countries. Findings The structuralism failed because it ignored the endogeneity of economic structure in a country. The neoliberalism failed because it neglected the endogeneity of distortions in the transition economies. Originality/value The paper proposes new policy and theoretical framework for developing countries.

Sign in / Sign up

Export Citation Format

Share Document