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The Political Economy of Comparative Development into the 21st Century

Essays in Memory of John C.H. Fei, Volume 1

9781858988788 Edward Elgar Publishing

Edited by the late Gustav Ranis, formerly Frank Altschul Professor of International Economics and Director, Yale Center for International and Area Studies, Yale University, US, the late Sheng-Cheng Hu, formerly Minister without Portfolio, Executive Yuan, Academia Sinica, Taiwan and Professor of Economics (Joint Appointment), National Taiwan University, Taiwan, and Yun-Peng Chu, Professor of Economics and Director, Research Center for Taiwan Economic Development, National Central University, Taiwan

Publication Date: 1999 ISBN: 978 1 85898 878 8 Extent: 416 pp

This important book uses the most recent advancements in growth theory and case studies to examine the status of economic and political development at the turn of the 20th century.

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This important book uses the most recent advancements in growth theory and case studies to examine the status of economic and political development at the turn of the 20th century.

The book first provides an overview of the process of economic development in light of endogenous growth theory. The authors then explore the sources of economic development in East Asian countries, including the role of capital accumulation, international trade, pre-takeoff conditions and intersectoral relations. Pre war Japan is used as a case study to examine the role of industrial structure in accelerating economic development. The contributors then discuss the implications of economic development for income distribution in labor-absorbing economies and newly industrialized countries as well as examining household income distribution in Taiwan. Inequality is analyzed in the context of a developing country experiencing hyper-inflation. The influence of institutions, such as the Bretton Woods system, on developing countries’ growth potential is also examined and case studies of Kenya, Uganda, and Sri Lanka are used to explore the role of politics and conflict in the process of economic development.

The Political Economy of Comparative Development into the 21st Century will be essential reading for scholars of the economics and politics of development.

Critical Acclaim

‘I warmly recommend The Political Economy of Comparative Development into the 21st Century to everybody interested in the nature of economic development. The essays are thought provoking and intellectually challenging.’
– Tanel Tang, Acta Oeconomica

Contributors

Contributors: I. Adelman, A.M. Balisacan, C.-N. Chen, Y.-P. Chu, J.P. Formby, J. Kaliyati, A.Y.C. Koo, A.O. Krueger, L.J. Lau, H.-Y. Lee, K.S. Lin, K. Otsuka, T. Sonobe, T.N. Srinivasan, F. Stewart, M. O’Sullivan, E. Thorbecke, P.A. Yotopoulos

Contents

Contents: Preface Part I: Overview 1. As the Century Turns: Analytics, Empirics and Politics of Development Part II: Sources of Development 2. The Sources of East Asian Economic Growth 3. Can Capital Fundamentalism be Revived? A General Equilibrium Approach to Growth Accounting 4. Incomplete Currency Markets and Growth: Some Evidence from Southeast Asia and the Lessons from Japan and Taiwan 5. Initial Pre-takeoff Conditions and Stages of Growth 6. A Dual-Dual Framework to Analyze Intersectoral Relationships throughout the Development Process 7. Changing Industrial Structure and Economic Development: Prewar Japan Revisited Part III: Income Distribution and Development 8. Growth and Changes in Inequality in Labor-absorbing Economies 9. Income Distribution and Development in Newly Industrialized Countries 10. Changes in Inequality and Welfare in a Developing Country Experiencing Hyperinflation Part IV: Institution and Development 11. Growth, Poverty and Inequality in the Philippines 12. The Founding of the Bretton Woods Institutions: A View from the 1990s 13. Democracy, Conflict and Development – Three Cases Index