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DEVELOPMENT ECONOMICS
This four volume work provides a comprehensive and authoritative selection of articles in development economics. The first two volumes cover issues concerning growth, agriculture and human resources. The third and fourth volumes cover industrialization, foreign trade and foreign capital, stabilisation policies and the emerging new area of political economy. Taken together they provide the basis for a comprehensive course on development economics at the third year undergraduate or first year graduate level. They show why development economics is a subject marked both by its obvious practical relevance as well as the many theoretical insights it has provided for other branches of economics. There are detailed introductions by the editor – a leading development economist with wide experience in both the practice and the teaching of the subject. Besides containing detailed bibliographies, these introductions place the readings in the volumes into a coherent context which is suitable to structure a one year course on the subject. As such it should be of interest to students, teachers and researchers. As policy concerns have been kept clearly in mind in the selections, the readings should also be of use to policymakers in governments and international organizations, for whom debates on development are likely to be a central concern.
More Information
Critical Acclaim
Contributors
Contents
More Information
This four volume work provides a comprehensive and authoritative selection of articles in development economics. The first two volumes cover issues concerning growth, agriculture and human resources. The third and fourth volumes cover industrialization, foreign trade and foreign capital, stabilisation policies and the emerging new area of political economy. Taken together they provide the basis for a comprehensive course on development economics at the third year undergraduate or first year graduate level. They show why development economics is a subject marked both by its obvious practical relevance as well as the many theoretical insights it has provided for other branches of economics. There are detailed introductions by the editor – a leading development economist with wide experience in both the practice and the teaching of the subject. Besides containing detailed bibliographies, these introductions place the readings in the volumes into a coherent context which is suitable to structure a one year course on the subject. As such it should be of interest to students, teachers and researchers. As policy concerns have been kept clearly in mind in the selections, the readings should also be of use to policymakers in governments and international organizations, for whom debates on development are likely to be a central concern.
Critical Acclaim
‘This comprehensive, encyclopaedic, reference work edited by Professor Deepak Lal. . . is intended as a research tool for students, researchers and lecturers in economics.’
– International Review of Administrative Science
‘. . . this set represents one of the most comprehensive collections of critical writings on development economics. Essential for graduate collections.’
– Z. Suster, Choice
‘Lal has put together an impressive testimony of the advance in understanding of developing economies over the second half of the twentieth century.’
– Richard Pomfret, The Economic Record
– International Review of Administrative Science
‘. . . this set represents one of the most comprehensive collections of critical writings on development economics. Essential for graduate collections.’
– Z. Suster, Choice
‘Lal has put together an impressive testimony of the advance in understanding of developing economies over the second half of the twentieth century.’
– Richard Pomfret, The Economic Record
Contributors
Contributors: P. Bardhan, W.M. Corden, A.O. Krueger, M. Lipton, V.W. Ruttan, A. Sen, N. Stern, S. Wellisz
Contents
Volume I
Part I: Growth in Theory and Pratice
1. Lloyd G. Reynolds (1983), ""The Spread of Economic Growth to the Third World, 1850-1980".
2. Harry G. Johnson (1966), "The Neo-Classical One Sector Growth Model".
3. Nicholas Stern, (1991), "The Determinants of Growth".
4. Moshe Syrquin and Hollis Chenery (1989), "Three Decades of Industrialization".
Part II: The Development of A Dual Economy
5. W. Arthur Lewis (1954), "Economic Development with Unlimited Supplies of Labour".
6. Gustav Ranis and John C.H. Fei (1961), "A Theory of Economic Development".
7. H Myint (1985), "Organizational Dualism and Economic Development".
Part III: Migration and Labour
8. R. Albert Berry and Ronald Soligo (1968), "Rural-Urban Migration, Agricultural Output, and the Supply Price of Labour in a Labour- Surplus Economy".
9. W. M. Corden and R. Findlay (1975), "Urban Unemployment, Intersectoral Capital Mobility and Development Policy".
10. Gary S. Fields (1975), "Rural-Urban Migration, Uban Unemployment, and Underemployment, and Job Search Activity in LDC''s".
11. Joseph E.Stiglitz (1974), "Alternative Theories of Wage Determination and Unemployment in LDC''s: The Labor Turnover Model".
12. Paul Collier and Deepak Lal (1984), "Why Poor People get Rich: Kenya (1960-79)".
Part IV: The Shadow Wage Rate, Choice of Techniques and the Employment Problem
13. Amartya Sen (1975), "Employment, Institutions and Technology: Some Policy Issues".
14. Christopher J. Heady (1981), "Shadow Wages and Induced Migration".
15. Deepak Lal (1978), "Shadow Pricing and Wage and Employment Issues in National Economic Planning".
16. Howard Pack (1981), "Appropriate Industrial Technology: Benefits and Obstacles".
Part IV: The Role of Agriculture in Economic Development
17. Bruce F. Johnston (1970), "Agriculture and Structural Transformation in Developing Countries: A Survey of Research".
18. Michael Lipton (1968), "The Theory of the Optimising Peasant".
19. Frederic L. Pryor and Stephen B. Maurer (1982), "On Induced Economic Change in Precapitalist Societies".
20. Robert E. Evenson (1981), "Benefits and Obstacles to Appropriate Agricultural Technology".
21. Vernon Ruttan (1977), "The Green Revolution: Seven Generalizations".
22. Vernon Ruttan (1984), "Integrated Rural Development Programmes: A Historical Perspective".
VOLUME II
Part I: Rural Factor Market and Institutions
1. Hans P. Binswanger and Mark R. Rosenzweig (1986), "Behavioral and Material Determinants of Production Relations in Agriculture".
2. Surjit S. Bhalla and Prannoy Roy (1988), "Mis-Specification in Farm Productivity Analysis: The Role of Land Quality".
3. Pranab K. Bardhan (1980), "Interlocking Factor Markets and Agrarian Development: A Review of Issues".
4. Kaushik Basu (1983), "The Emergence of Isolation and Interlinkage in Rural Markets".
5. Amartya Sen (1990), "Public Action to Remedy Hunger".
Part II: Agricultural Incentives
6. Anne O. Krueger, Maurice Schiff and A Valdés (1988) , "Agricultural Incentives in Developing Countries: Measuring the Effect of Sectoral and Economywide Policies".
7. Inderjit Singh, Lyn Squire and JohnStrauss (1986), " A Survey of Agricultural Household Models: Recent Findings and Policy Implications".
8. D. L. Bevan, A. Bigsten, P. Collier and J. W. Gunning (1987), "Peasant Supply Response in Rationed Economies".
Part III: Poverty, Inequality and Human Capital
A Distribution
9. Simon Kuznets (1955), "Economic Growth and Income Inequality".
10. Deepak Lal (1976), "Distribution and Development: A Review Article".
B Basic Needs and Poverty Redressal
11. Paul Streeten and Shahid Javed Burki (1978), "Basic Needs: Some Issues".
12. T. N. Srinivasan (1979), "Development, Poverty and Basic Human Needs: Some Issues".
13. Amartya Sen (1981), "Public Action and the Quality of Life in Developing Countries".
14. Surjit Bhalla and Paul Glewe (1986), "Growth and Equity in Developing Countries: A Reinterpretation of the Sri Lankan Experience".
15. Jagdish N. Bhagwati (1988), "Poverty and Public Policy"J Bhagwati (1988), "Poverty and Public Policy".
C Human Resources
16. Theodore W. Schultz (1980), "Nobel Lecture: The Economics of Being Poor".
17. George Psacharopoulos (1988), "Education and Development: A Review".
18. Nancy Birdsall (1989), "Economic Analysis of Rapid Population Growth".
VOLUME III
Part I: Trade and Growth
1. M.A.M. Smith (1977), "Capital Accumulation in the Open Two-Sector Economy".
2. Alan V. Deardoff (1984), "An Exposition of Krueger''s Trade Model".
3. H. Myint (1958), "The "Classical Theory" of International Trade in Underdeveloped Countries".
4. Irving B. Kravis (1970), "Trade as a Handmaiden of Growth-Similarities Between the Nineteenth and Twentieth Centuries".
5. W. Arthur Lewis (1980), "The Slowing Down of the Engine of Growth".
6. James Reidel (1984), "Trade as the Engine of Growth in Developing Countries Revisited".
Part II: The Terms of Trade
7. M. June Flanders (1964), "Prebish on Protectionism: An Evaluation".
8. Enzo R. Grilli and Maw Cheng Yang (1988), "Primary Commodity Prices, Manufactured Goods Prices, and the Terms of Trade of Developing Countries: What the Long Run Shows".
Part III: Foreign Exchange Constraints
9. Deepak Lal (1972), "The Foreign-Exchange Bottleneck Revisited: A Geometric Note".
10. M Bronfenbrenner (1960), "A Simplified Mahalanobis Development Model".
Part IV: Theory and Pratice of Protection
11. Jagdish Bhagwati and V. K. Ramasurami (1963), "Domestic Distortions and the Theory of Optimum Subsidy".
12. I M D Little (1971), "Trade and Public Finance".
13. W. M. Corden (1966), "The Structure of a Tariff System and the Effective Protective Rate".
Part V: Import Substituting Industrialization
14. Robert E. Baldwin (1969), "The Case Against Infant-Industry Protection".
15. Howard Pack and Larry E. Westphal (1986), "Industrial Strategy and Technological Change: Theory Versus Reality".
16. Anne O. Krueger and Baran Tuncer (1982), "An Empirical Test of the Infant Industry Argument".
17. T. N. Srinivasan (1989), "Recent Theories of Imperfect Competition and International Trade: Any Implication for Development Strategy ?".
18. Jagdish N. Bhagwati and Anne O. Krueger (1973), "Exchange Control Liberalization and Economic Development".
19. Anne O. Krueger (1978), "Alternative Trade Strategies and Employment in LDC''s".
20. Anne O. Krueger (1974), "The Political Economy of the Rent-Seeking Society".
21. Jagdish N. Bhagwati, Richard A. Brecher and T. N. Srinivasan (1984), "DUP Activities and Economic Theory".
22. Deepak Lal and Sarath Rajapatirana (1987), "Foreign Trade Regimes and Economic Growth in Developing Countries".
Volume IV
Part I: Stabilization in an Open Economy
A The Real Exchange Rate, the Balance of Payments and the Dutch Disease
1. W.E.G. Salter (1959), "Internal and External Balance: the Role of Price and Expenditure Effects".
2. Deepak Lal (1989), "A Simple Framework for Analysing Various Real Aspects of Stabilisation and Structural Adjustment Policies".
3. Sebastian Edwards (1988), "Real and Monetary Determinants of Real Exchange Rate Behavior".
4. W. M. Corden (1984), "Booming Sector and Dutch Disease Economics: A Survey & Consolidation".
B Inflation, Stabilization and Liberalization
5. A Harberger (1978), "A Primer on Inflation".
6. Julio H.G. Olivera (1964), "On Structural Inflation and Latin American ''Structuralism''".
7. Vittorio Corbo and Jaime de Melo (1987), "Lessons from the Southern Cone Policy Reforms".
8. Deepak Lal (1987), "The Political Economy of Economic Liberalization".
C Commodity Instability
9. Peter Brundell, Henrik Horn and Peter Svedberg (1981), "On the Causes of Instability in Export Earnings".
10. D.M. G. Newbery and J.E. Stiglitz (1979), "The Theory of Commodity Price Stabilisation Rules: Welfare Impacts and Supply Responses".
Part II: Foreign Capital
A Commercial Flows
11. Deepak Lal (1978), "The Evaluation of Capital Inflows".
12. Jonathan Eaton, Mark Gersovitz and Joseph E. Stiglitz (1986), "The Pure Theory of Country Risk".
B Concessional Flows
13. Anne O. Krueger (1986), "Aid in the Development Process".
14. Peter Bauer and Basil Yamey (1982), "Foerign Aid: What is at Stake?".
15. Paul Mosley, John Hudson and Sara Horrell (1987), "Aid, the Public Sector and the Market in Less Developed Countries".
Part III: Developing Countries in the World Economy
16. P. D. Henderson (1980), "Survival, Development and the Report of the Brandt Commission".
17. G Ranis (1985), Can the East Asian Model of Development be Generalized ? A Comment".
18. Deepak Lal and Sweder van Wijnbergen (1985), "Government Deficits, the Real Interest Rate and LDC Debt: On Global Crowding Out".
Part IV: Development Planning
19. Alan S. Manne (1974), " Multi-Sector Models for Development Planning: A Survey".
20. T. N. Srinivasan and Jagdish N. Bhagwati (1978), "Shadow Prices for Project Selection in the Presence of Distortions: Effective Rates of protection and Domestic Resource Costs".
21. Stanislaw Wellisz (1971), "Lessons of Twenty Years of Planning in Developing Countries".
Part V: Political Economy and Institutions
22. Ronald Findlay (1990), "The New Political Economy: Its Explanatory Power for LDC''s".
23. Douglass C. North (1989), "Institutions and Economic Growth: An Historical Introduction".
24. P Bardhan (1989), "The New Institutional Economy and Development Theory: A Brief Critical Assessment".
Part I: Growth in Theory and Pratice
1. Lloyd G. Reynolds (1983), ""The Spread of Economic Growth to the Third World, 1850-1980".
2. Harry G. Johnson (1966), "The Neo-Classical One Sector Growth Model".
3. Nicholas Stern, (1991), "The Determinants of Growth".
4. Moshe Syrquin and Hollis Chenery (1989), "Three Decades of Industrialization".
Part II: The Development of A Dual Economy
5. W. Arthur Lewis (1954), "Economic Development with Unlimited Supplies of Labour".
6. Gustav Ranis and John C.H. Fei (1961), "A Theory of Economic Development".
7. H Myint (1985), "Organizational Dualism and Economic Development".
Part III: Migration and Labour
8. R. Albert Berry and Ronald Soligo (1968), "Rural-Urban Migration, Agricultural Output, and the Supply Price of Labour in a Labour- Surplus Economy".
9. W. M. Corden and R. Findlay (1975), "Urban Unemployment, Intersectoral Capital Mobility and Development Policy".
10. Gary S. Fields (1975), "Rural-Urban Migration, Uban Unemployment, and Underemployment, and Job Search Activity in LDC''s".
11. Joseph E.Stiglitz (1974), "Alternative Theories of Wage Determination and Unemployment in LDC''s: The Labor Turnover Model".
12. Paul Collier and Deepak Lal (1984), "Why Poor People get Rich: Kenya (1960-79)".
Part IV: The Shadow Wage Rate, Choice of Techniques and the Employment Problem
13. Amartya Sen (1975), "Employment, Institutions and Technology: Some Policy Issues".
14. Christopher J. Heady (1981), "Shadow Wages and Induced Migration".
15. Deepak Lal (1978), "Shadow Pricing and Wage and Employment Issues in National Economic Planning".
16. Howard Pack (1981), "Appropriate Industrial Technology: Benefits and Obstacles".
Part IV: The Role of Agriculture in Economic Development
17. Bruce F. Johnston (1970), "Agriculture and Structural Transformation in Developing Countries: A Survey of Research".
18. Michael Lipton (1968), "The Theory of the Optimising Peasant".
19. Frederic L. Pryor and Stephen B. Maurer (1982), "On Induced Economic Change in Precapitalist Societies".
20. Robert E. Evenson (1981), "Benefits and Obstacles to Appropriate Agricultural Technology".
21. Vernon Ruttan (1977), "The Green Revolution: Seven Generalizations".
22. Vernon Ruttan (1984), "Integrated Rural Development Programmes: A Historical Perspective".
VOLUME II
Part I: Rural Factor Market and Institutions
1. Hans P. Binswanger and Mark R. Rosenzweig (1986), "Behavioral and Material Determinants of Production Relations in Agriculture".
2. Surjit S. Bhalla and Prannoy Roy (1988), "Mis-Specification in Farm Productivity Analysis: The Role of Land Quality".
3. Pranab K. Bardhan (1980), "Interlocking Factor Markets and Agrarian Development: A Review of Issues".
4. Kaushik Basu (1983), "The Emergence of Isolation and Interlinkage in Rural Markets".
5. Amartya Sen (1990), "Public Action to Remedy Hunger".
Part II: Agricultural Incentives
6. Anne O. Krueger, Maurice Schiff and A Valdés (1988) , "Agricultural Incentives in Developing Countries: Measuring the Effect of Sectoral and Economywide Policies".
7. Inderjit Singh, Lyn Squire and JohnStrauss (1986), " A Survey of Agricultural Household Models: Recent Findings and Policy Implications".
8. D. L. Bevan, A. Bigsten, P. Collier and J. W. Gunning (1987), "Peasant Supply Response in Rationed Economies".
Part III: Poverty, Inequality and Human Capital
A Distribution
9. Simon Kuznets (1955), "Economic Growth and Income Inequality".
10. Deepak Lal (1976), "Distribution and Development: A Review Article".
B Basic Needs and Poverty Redressal
11. Paul Streeten and Shahid Javed Burki (1978), "Basic Needs: Some Issues".
12. T. N. Srinivasan (1979), "Development, Poverty and Basic Human Needs: Some Issues".
13. Amartya Sen (1981), "Public Action and the Quality of Life in Developing Countries".
14. Surjit Bhalla and Paul Glewe (1986), "Growth and Equity in Developing Countries: A Reinterpretation of the Sri Lankan Experience".
15. Jagdish N. Bhagwati (1988), "Poverty and Public Policy"J Bhagwati (1988), "Poverty and Public Policy".
C Human Resources
16. Theodore W. Schultz (1980), "Nobel Lecture: The Economics of Being Poor".
17. George Psacharopoulos (1988), "Education and Development: A Review".
18. Nancy Birdsall (1989), "Economic Analysis of Rapid Population Growth".
VOLUME III
Part I: Trade and Growth
1. M.A.M. Smith (1977), "Capital Accumulation in the Open Two-Sector Economy".
2. Alan V. Deardoff (1984), "An Exposition of Krueger''s Trade Model".
3. H. Myint (1958), "The "Classical Theory" of International Trade in Underdeveloped Countries".
4. Irving B. Kravis (1970), "Trade as a Handmaiden of Growth-Similarities Between the Nineteenth and Twentieth Centuries".
5. W. Arthur Lewis (1980), "The Slowing Down of the Engine of Growth".
6. James Reidel (1984), "Trade as the Engine of Growth in Developing Countries Revisited".
Part II: The Terms of Trade
7. M. June Flanders (1964), "Prebish on Protectionism: An Evaluation".
8. Enzo R. Grilli and Maw Cheng Yang (1988), "Primary Commodity Prices, Manufactured Goods Prices, and the Terms of Trade of Developing Countries: What the Long Run Shows".
Part III: Foreign Exchange Constraints
9. Deepak Lal (1972), "The Foreign-Exchange Bottleneck Revisited: A Geometric Note".
10. M Bronfenbrenner (1960), "A Simplified Mahalanobis Development Model".
Part IV: Theory and Pratice of Protection
11. Jagdish Bhagwati and V. K. Ramasurami (1963), "Domestic Distortions and the Theory of Optimum Subsidy".
12. I M D Little (1971), "Trade and Public Finance".
13. W. M. Corden (1966), "The Structure of a Tariff System and the Effective Protective Rate".
Part V: Import Substituting Industrialization
14. Robert E. Baldwin (1969), "The Case Against Infant-Industry Protection".
15. Howard Pack and Larry E. Westphal (1986), "Industrial Strategy and Technological Change: Theory Versus Reality".
16. Anne O. Krueger and Baran Tuncer (1982), "An Empirical Test of the Infant Industry Argument".
17. T. N. Srinivasan (1989), "Recent Theories of Imperfect Competition and International Trade: Any Implication for Development Strategy ?".
18. Jagdish N. Bhagwati and Anne O. Krueger (1973), "Exchange Control Liberalization and Economic Development".
19. Anne O. Krueger (1978), "Alternative Trade Strategies and Employment in LDC''s".
20. Anne O. Krueger (1974), "The Political Economy of the Rent-Seeking Society".
21. Jagdish N. Bhagwati, Richard A. Brecher and T. N. Srinivasan (1984), "DUP Activities and Economic Theory".
22. Deepak Lal and Sarath Rajapatirana (1987), "Foreign Trade Regimes and Economic Growth in Developing Countries".
Volume IV
Part I: Stabilization in an Open Economy
A The Real Exchange Rate, the Balance of Payments and the Dutch Disease
1. W.E.G. Salter (1959), "Internal and External Balance: the Role of Price and Expenditure Effects".
2. Deepak Lal (1989), "A Simple Framework for Analysing Various Real Aspects of Stabilisation and Structural Adjustment Policies".
3. Sebastian Edwards (1988), "Real and Monetary Determinants of Real Exchange Rate Behavior".
4. W. M. Corden (1984), "Booming Sector and Dutch Disease Economics: A Survey & Consolidation".
B Inflation, Stabilization and Liberalization
5. A Harberger (1978), "A Primer on Inflation".
6. Julio H.G. Olivera (1964), "On Structural Inflation and Latin American ''Structuralism''".
7. Vittorio Corbo and Jaime de Melo (1987), "Lessons from the Southern Cone Policy Reforms".
8. Deepak Lal (1987), "The Political Economy of Economic Liberalization".
C Commodity Instability
9. Peter Brundell, Henrik Horn and Peter Svedberg (1981), "On the Causes of Instability in Export Earnings".
10. D.M. G. Newbery and J.E. Stiglitz (1979), "The Theory of Commodity Price Stabilisation Rules: Welfare Impacts and Supply Responses".
Part II: Foreign Capital
A Commercial Flows
11. Deepak Lal (1978), "The Evaluation of Capital Inflows".
12. Jonathan Eaton, Mark Gersovitz and Joseph E. Stiglitz (1986), "The Pure Theory of Country Risk".
B Concessional Flows
13. Anne O. Krueger (1986), "Aid in the Development Process".
14. Peter Bauer and Basil Yamey (1982), "Foerign Aid: What is at Stake?".
15. Paul Mosley, John Hudson and Sara Horrell (1987), "Aid, the Public Sector and the Market in Less Developed Countries".
Part III: Developing Countries in the World Economy
16. P. D. Henderson (1980), "Survival, Development and the Report of the Brandt Commission".
17. G Ranis (1985), Can the East Asian Model of Development be Generalized ? A Comment".
18. Deepak Lal and Sweder van Wijnbergen (1985), "Government Deficits, the Real Interest Rate and LDC Debt: On Global Crowding Out".
Part IV: Development Planning
19. Alan S. Manne (1974), " Multi-Sector Models for Development Planning: A Survey".
20. T. N. Srinivasan and Jagdish N. Bhagwati (1978), "Shadow Prices for Project Selection in the Presence of Distortions: Effective Rates of protection and Domestic Resource Costs".
21. Stanislaw Wellisz (1971), "Lessons of Twenty Years of Planning in Developing Countries".
Part V: Political Economy and Institutions
22. Ronald Findlay (1990), "The New Political Economy: Its Explanatory Power for LDC''s".
23. Douglass C. North (1989), "Institutions and Economic Growth: An Historical Introduction".
24. P Bardhan (1989), "The New Institutional Economy and Development Theory: A Brief Critical Assessment".
