This book makes the bold attempt at proposing a new general theory of economic development founded on the fact-based perspective of economic behaviour. The main premise is that economic institutions and policies must embody 'economic discrimination' if there is to be any chance of real economic development. By economic discrimination, the author means 'treating differences differently' by selecting and supporting economic entities and behaviour that contribute positively to the economy. By presenting a general theory that goes beyond mainstream and ad hoc economic theories, Sung-Hee Jwa provides a new way to look at capitalism beyond the Marxian interpretation, explaining why some economies develop and others don't. The book identifies markets, government and corporations as the 'holy trinity of economic development', that is, the three most important institutions that must work together via economic discrimination to steer the economy towards real transformative progress. It also warns against the current trend of economic egalitarianism or 'not treating differences differently' because it destroys economic incentives and results in an array of economic problems including growth stagnation and worsening income distribution. The theory presented in this book and its implications for development management will be an invaluable resource for development economists, scholars, instructors, researchers and policymakers.

This book surveys the current state of industry in sub-Saharan Africa and examines claims that Africa is de-industrialising. It focuses on the challenge for economic policy to find ways to reverse this trend. The contributors begin by analysing general issues relating to industrialisation in Africa, including the question of Africa's comparative advantage in industry, the role of small-scale enterprises and the scope for infant industry promotion. They then focus on issues such as: * evidence of de-industrialisation within Africa * comparative industrial performance between African countries and economies outside Africa * the role of regional trade integration * lessons to be learnt from industrialisation in East Asia * policies of major lending institutions towards industrial loans The authors then consider evidence from country studies including export performance in Nigeria, protection and transport costs in Uganda, public enterprises in Tanzania, enterprise reform in South Africa and the impact of free trade policies in Southern Africa. They find that the diversity of experience in the region and the complexity of the issues caution against accepting simple generalisations on African industrialisation. Industrial Development and Policy in Africa will be required reading for scholars of economic development and industrial economics.

Providing an exceptional overview and analysis of the global economy, from the origins of Homo sapiens to the present day, Colin White explores our past to help understand our economic future. He veers away from traditional Eurocentric approaches, providing a truly global scope for readers. A History of the Global Economy takes a holistic, interdisciplinary approach, beyond the narrow application of economic theory, to include the impact of climate change, genetics and culture. The main themes include the creative innovativeness of humans and how this generates economic progression, the common economic pathway trodden by all societies and the complementary relationship between government and the market. The book moves through the four key economic stages of human history - foraging, agriculture, industry and services - to finally examine where the direction of our future may lie. This comprehensive and ambitious book is a must-read for economists, particularly economic historians, as well as anthropology and political history scholars. It not only explores the history and origins of the global economy but also provides a valuable analysis of the current state of economic affairs, making it an ideal book for those wishing to understand more about our ever-evolving global society.

The relationship between public investment and regional economic development is of perennial interest and is particularly topical now as issues of infrastructure and innovation are high on policy agendas in many countries. Public investment is often viewed as a possible method for 'jump-starting' lagging regional economies and also as a requirement for the continued development of more prosperous regions. Public Investment and Regional Economic Development provides a systematic analysis of the complex relationship between public investment and regional economic development. The authors offer new insights into the key issues of regional growth, and present a broad variety of perspectives ranging from transport and housing infrastructure through to human capital and innovation. With contributions from leading regional scientists, and each themed section of the book prefaced with an editorial introduction to ensure coherence, this illuminating book is sure to offer policymakers new research insights into key issues of regional growth. Academics and researchers of urban and regional planning, geography and economic development will also find the book of great interest.

The Theory of Economic Growth compares the main theories of growth from Adam Smith to the present day in order to isolate their logical structures, theoretical domains and methodological underpinnings. The book provides original solutions to theoretical questions still debated in contemporary literature and points out new directions for further research.The authors carry out a 'vertical' or in-depth analysis of the three main schools of thought; classical, Keynesian and neo-classical. They perform a 'horizontal' analysis of a wide range of items connected with growth theory, such as competition, technical change, division of labour, business cycles, the impact on environment, and the financial intermediation. Attention is also given to the evolutionary approach to economic growth. This book will be of great interest to scholars of economic growth, macroeconomics, and historians of economic thought.

Since the late 1980s, economic growth has again become a central topic in economic theorising. Recent endogenous growth theory has greatly contributed to the development of the field. Old and New Growth Theories analyses the most recent developments in the theory of economic growth and compares these to earlier theories. The book's originality is due in part to the assembly of contributions from scholars of different persuasions - some within the mainstream and others from Keynesian, Kaleckian and Sraffian traditions. The authors deal with a comprehensive variety of research topics including the key elements necessary to generate growth, the mechanisms of endogeneity of growth and technical change, the role of aggregate demand and of investment in physical and human capital. Economic policy issues are also considered. The book will be appreciated by scholars of economic growth, macroeconomics, classical and Keynesian economics as well as historians of economic thought.

This book addresses the role of cooperation, networks and institutions in the context of regional innovation systems. It emphasises the importance of these factors in the emergence of local innovation systems, using detailed examples of clusters which have reached different stages of maturity. The authors address the topic from an empirical, theoretical and political perspective, and highlight the local mechanisms which are involved in the development of innovation systems. They offer a comprehensive overview of different approaches in the field and present numerous case studies which stress the influence of networks and local institutions. Significantly, they also introduce several new approaches to regional innovation systems, including contributions which explicitly discuss the design and potential of policy measures to promote regional development. The policy recommendations are based on sound theorising which, in turn, is based on extensive empirical research. This book is a valuable addition to a complex and growing literature which offers new perspectives and insights on cooperation, networks and institutions, and their role in the development of local systems of innovation. The combination of empirical, theoretical and policy-oriented approaches will ensure this book is essential reading for academics and policymakers in the fields of regional economics, innovation research and economic geography.

Lance Taylor is widely considered to be one of the pre-eminent development economists in the world and is known for his work on development planning, macroeconomics of development, stabilization policy, and the global economy. He has also been the major force behind structuralist economics, which is seen by many to be a major alternative to orthodox development economics and policy prescriptions. The essays in this volume, written by well-known scholars in their own right, make contributions to each of these areas while honoring the contributions made by Lance Taylor. Professional economists, researchers and policy makers interested in development economics, political economy, global political economy and viable alternatives to mainstream thought will find this collection a valuable addition to their libraries.

This book is the result of a comparative investigation that contrasts micro-systems of innovation in several regions of China and Australia - two vastly different countries in terms of traditions, industry structures, political systems and economic organisation. Six regional studies comprehensively document the experiences of firms engaged in product or process innovation. The book also examines the institutions that support research and development and the impact of government policies on innovation in each of the regions studied. The case-studies present original and informative insights into the different ways in which local, national and transnational interests interact and influence regional development. These findings support the view that local innovation systems are emerging with quite different structural characteristics. The authors conclude that local, national and transnational dimensions are continually redefining and aligning themselves in novel and interesting ways. They highlight the importance of identifying these structural relationships in order to encourage dynamic innovation to occur. This, they argue, has important implications for policymakers concerned with the promotion of innovation in regional areas. Innovation, Technology Policy and Regional Development will be of great interest to those involved in research and policy in the fields of economic growth and employment, industrial economics and innovation.

Decision-makers increasingly seek to design environmental and development policies that will support sustainable development. Thus, practical tools to help formulate sustainable development policies and clear methods to assess their acceptability and effectiveness are urgently needed. This book contributes to meeting these needs by presenting both analytical and empirical aspects of decision-making processes. The authors explore the methods for integrating environmental and social sciences to support participatory policy design, implementation and assessment of sustainable development policies. These methods are applied, richly illustrated and discussed with reference to several case studies from various regions of the world. Although each chapter has a distinct focus, they all contribute to a clearer understanding of how sustainable development is perceived and assessed by society. The book is interdisciplinary, emphasising how the integration of a wide set of disciplines and stakeholder perspectives into the policy-making process can help to improve the perception of sustainable development policies. The authors argue that there should be greater transparency in the processes of modelling and integrated assessment in order to increase the meaningful participation of all stakeholders involved in the decision-making process. By deliberately avoiding technical jargon, this book will appeal to a broad audience including environmental, resource and development economists. It will also be of interest to anyone with a scientific or policy perspective in the measurement and assessment of sustainable development.

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 interdisciplinary study looks for ways of constructing effective market-enhancing governance structures that provide appropriate incentive systems to cope with such failures. No blueprint is offered, but the book provides a conceptual governance framework that can be applied in a comparative way to analyze economic, political, and social obstacles to policy and institutional reform. The concept is not only used to analyze the politico-institutional foundation of policy reform in East Asia and Eastern Europe, but it also allows to elaborate country specific strategies to craft institutional safeguards that help overcome impediments to development and transition. This innovative book, which overcomes the conventional perspective of a government-market dichotomy, will be of interest to researchers, students, policymakers and all those concerned with the impact of the dialectic interaction between political and economic forces on economic development.

Visions of Development is a path-breaking and original volume, examining concepts and perceptions of human development through a unique synthesis of empirical and philosophical work. The author builds on the foundations of Sen and Nussbaum's capability approach, now at the forefront of development studies. The book aims to identify and clarify academic concepts of development, to consider how poor people themselves perceive 'development' and confronts abstract concepts of development with the views of ordinary people. It represents the first systematic attempt to construct a development ethic (list of valuable capabilities) that is based directly on the values and experiences of the poor. David Clark considers the case for viewing development in terms of the expansion of human capabilities instead of some narrow conception of utility or opulence; and develops a non-paternalistic methodology for forging a development ethic that can respect the values of all people. He then proceeds to develop an account of human development based on the perceptions of people living in both rural and urban locations in South Africa - Murraysburg and Wallacedene respectively. A multidisciplinary and accessible text, this challenging book will appeal not only to scholars and researchers in development economics but also economic geographers, social scientists and political economists. It will also be of great interest to policymakers and practitioners.

The past two decades have seen a process of almost continuous reform in public management in developed countries and a renegotiation of traditional relationships between state, economy and society. These changes have been expressed through privatization, civil service reductions and restructuring, the introduction of market-type mechanisms to improve the delivery of public services, the construction of new forms of partnership between state and non-state organizations, and new types of regulation and accountability. In turn, these public management reforms have, in a variety of ways, been transferred to the state systems of developing and transitional economies. The Internationalization of Public Management constitutes one of the first attempts to examine the conceptual and practical problems which attend such policy transfers, and to make preliminary judgements about the successes and failures of public management reform in developing countries. The distinguished group of contributors offers instructive insights into the complex reality of the development state. Both academics and postgraduate students within the areas of politics and governance, public sector management and development studies will find this book essential reading. Practitioners in these fields, especially within aid agencies and research institutions, will also find the book contains valuable lessons and conclusions.

"The Moral Economy of the State" examines state formation in Zimbabwe from the colonial period through the first decade of independence. Drawing on the works of Gramsci, E. P. Thompson, and James Scott, William Munro develops a theory of "moral economy" that explores negotiations between rural citizens and state agents over legitimate state incursions in social life. This analysis demonstrates how states try to shape the meanings of citizenship for agrarian populations by redefining conceptions of the public good, property rights, and community membership.
The book's focus on the moral economy of the state offers a refreshing perspective on the difficulties experienced by postcolonial African states in building stronger state and rural institutions.

Cost-benefit analysis is a key component in the evaluation of economic development strategies. In this new, updated version of his earlier book, Project Appraisal for Developing Countries, Robert Brent provides a comprehensive and accessible introduction to recent developments in project appraisal. Cost-Benefit Analysis for Developing Countries interprets, expands and evaluates the principles of project appraisal using the approach recommended by the World Bank. Robert Brent challenges a number of their findings, particularly through the inclusion of the 'numbers effect', the number of people affected by a development project, as a separate social objective. The book is based on a combination of sound economic theory and extensive empirical research, and case studies are used throughout to illustrate the theory. The author analyses, from an applied perspective, the most recent developments in project appraisal. He discusses key issues such as: structural adjustment lending investment criteria the basic needs approach shadow and market prices the social discount rate risk analysis. Cost-Benefit Analysis for Developing Countries will be essential reading for students with an interest in development economics, development studies, public policy and comparative economic systems as well as policymakers and practitioners in international organisations and developing countries.

In less than three decades, China has emerged as the world's largest exporting nation with more than $2 trillion exports annually. China's quick rise as a leading exporter in the world is an unprecedented miracle. There are many theories explaining this miracle. This book adopts the global value chain (GVC) approach to analyze the Chinese export miracle over the last four decades. It focuses on the tasks rather than the gross export value and emphasizes the organizations of modern trade rather than the national comparative advantage. The GVC approach systematically explains how, in less than four decades China has evolved from a closed economy to the world's No. 1 exporting nation; why China, a developing country, has exported more high-technology products than labor-intensive products to the US; and why almost half of the US trade deficit has originated from China.The book identifies three spillover effects of GVCs that originated from brands, technology and product innovation, and distribution and retail networks of GVCs lead firms. It argues that China's deep integration with GVCs has been a decisive factor for China's emergence as the world's No.1 exporting nation and the champion of high-technology exports. In addition, this book uses iPhone trade and the operation of Apple, the largest factory-less American manufacturer, to explain how current trade statistics exaggerate China's exports to and its trade surplus with the US on the one hand, and underestimate US exports on the other hand.By using the experience of the Chinese mobile phone industry, the book argues that the GVC strategy can be a short-cut for developing countries to achieve industrialization and enable firms of developing countries to enter high-technology sectors despite their intrinsic disadvantages. At this end, the book also discusses the future trajectory of China-centered GVCs under the shadow of the US-China trade war and the COVID-19 pandemic.

This concise book, by one of the leading scholars in development economics, has been developed from a series of lectures given to masters students and will serve as an excellent introduction to the principles of growth and development theory. The author presents conventional wisdom with a critical eye and charts development economics as it has evolved from Adam Smith to 'new' or endogenous growth theory. Thirlwall is critical of the latter, and its predecessor neo-classical growth theory, and tries to put back demand as a driving force in growth theory. He argues that in an open developing economy one of the major constraints is the availability of foreign exchange to pay for imports, so that export growth which relaxes a balance of payments constraint on demand becomes a crucial determinant of overall growth performance. Demand creating its own supply in a growth context, rather than the pre-Keynesian view of supply creating its own demand, provides an alternative framework to the neo-classical one for understanding the differential growth performance of nations. This highly original book will be essential reading for all students and scholars of development and growth economics.

The book Contemporary Perspectives in Corporate Social Performance and Policy - The Middle Eastern Perspective is our endeavor to deepen the current discussion about business and institutional activity in Middle Eastern countries and disseminate the new perspective of the scientific inquiry in the responsibility of various organization operating in this part of the world. The book is divided into four parts: "Introduction", "Reality and Challenges of Corporate Social Performance - The Middle Eastern Perspective", "Corporate Social Responsibility in Middle Eastern countries", "Corporate Social Performance -specific problems". There were included some theoretical and practical contributions into the topic of corporate social responsibility and corporate social performance based on experiences from different countries (such as Israel, Turkey, United Arab Emirates). We hope that this volume will help to understand better this specific region and its business activities.

This book comprehensively examines the performance of Bangladeshi agriculture in light of the most recent thinking on economic development and the environment. It both analyses the experience during the last five decades and discusses the major issues and challenges with special emphasis on the prospects for sustainable agricultural development in the future. The authors emphasise the importance of distributional aspects of environmental change and development in relation to employment and poverty and also focus on gender issues - often ignored in traditional theory. Many of the issues that arise in Bangladesh in connection with the agricultural-development nexus are not unique to the country. Parallels exist elsewhere in the developing world and as such Bangladesh is useful as an example from which to draw conclusions about much of the developing world. Environment and Agriculture in a Developing Economy will therefore be of particular interest to developmental and environmental economists as well as international organisations and NGOs committed to environment and development issues.

The evergreen debate over government's involvement in business continues in earnest. Participants straddle all stakeholder groups, from the state itself to the private sector to the public at large. Add to that debate increasing globalisation, and now de-globalisation, and the advent of technological advances. Criticism is often levelled at a government that is slow to act or one that belatedly introduces damning regulations. Many governments are already saddled with demands spanning mega infrastructural development to bulging fiscal deficits to evening out growth across the population. The politics of the day are however synonymous with short-termism. The Covid-19 pandemic has increased the bailout burden even more. The author attempts to provide a fair assessment of the potentially complementary roles that the public and private sectors can play in a fast-changing global economy, amidst the shifting expectations of society.Related Link(s)

The evergreen debate over government's involvement in business continues in earnest. Participants straddle all stakeholder groups, from the state itself to the private sector to the public at large. Add to that debate increasing globalisation, and now de-globalisation, and the advent of technological advances. Criticism is often levelled at a government that is slow to act or one that belatedly introduces damning regulations. Many governments are already saddled with demands spanning mega infrastructural development to bulging fiscal deficits to evening out growth across the population. The politics of the day are however synonymous with short-termism. The Covid-19 pandemic has increased the bailout burden even more. The author attempts to provide a fair assessment of the potentially complementary roles that the public and private sectors can play in a fast-changing global economy, amidst the shifting expectations of society.Related Link(s)

The timeliness of this book is beyond question. Since the crisis erupted in Thailand in mid-1997 and spread, with varying degrees of severity, to the rest of Asia, the export-led industrialization strategy that has driven economic growth in East and Southeast Asia over the last 50 years has come into question. Is this model still applicable to latecomers such as Vietnam? The Asian financial crisis has highlighted the dangers of implementing export-oriented industrialization through government subsidies and protection. This book finds that the strategy followed by the Asian economies in the last half-decade remains a valid model for Vietnam. In order to avoid grave damage to its financial institutions, the strategy needs to be implemented in conjunction with the development of a sound financial system and a robust private sector. Based on a detailed analysis of the causes and nature of the Asian financial crisis as well as the Vietnamese economy, this book concludes that it is unlikely that Vietnam will face a banking and currency crisis in the short term, but Vietnam could be plagued by balance of payments difficulties for some time to come unless major structural reforms are undertaken soon. This timely book will be of great use to Asian studies scholars and those interested in the role of the financial sector in economic management and development.

Privatization investment funds are the key feature of mass privatization programmes in transitional economies. This book offers a thorough survey of mass privatization programmes in the Czech Republic, Poland and Slovenia, supported with extensive empirical analysis. The study of 'top-down' privatization funds in Poland and 'bottom-up' funds in the Czech Republic and Slovenia offers different solutions to the problem of how to improve the governance of privatization funds. The authors argue that the institutional structure of closed-end investment companies and open-end mutual funds has not provided the right incentives to maximize the value for the shareholders. In addition too many regulations are in place in underdeveloped markets to protect new shareholders unaccustomed to exercising their ownership rights. Instead, the authors argue that they need to promote adjustment in fund portfolios and ownership structures in order to spur the development of capital markets and effective mechanisms of corporate governance.