This paper uses a Kaldorian framework to examine the evidence of deindustrialization in developing countries at low levels of income, the jobless growth in these economies and the fast expansion of the informal sector. The questions are specifically examined for the Indian economy, using state level data but the analysis has a wider application for economic policy in developing countries.
Topic:
Development, Economics, Industrial Policy, and Third World
A striking feature of the world economy during the last decade has been the collapse of economic growth in Latin America whilst industrialization and development have proceeded apace in the Asian countries. This paper first assesses alternative explanations of the Asian economic success and the Latin American failure during the 1980s. Secondly, it examines the related question of the long-term development strategies followed by the outstandingly successful East Asian economies. The paper arrives at rather different analyses and policy conclusions on these issues from those of the international financial institutions and the mainstream economists.
Topic:
Economic Growth, Economic Development, and Financial Institutions
As Mr. Barber Conable observes in his Foreword, the World Development Report 1991 "synthesises and interprets the lessons of forty years of development experience" (p. iii). In view of the World Bank's leading role in development financing for poor countries around the globe over much of this period, this is clearly an important document. The Report is necessarily being taken very seriously in policy making circles throughout the developing world. It is therefore essential that there should be a full analysis of its intellectual approach and the evidence underlying its conclusions.
Topic:
Development, Industrial Policy, Markets, and World Bank