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Books > Business & Economics > Economics > Development economics
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Diversity in Economic Growth - Global Insights and Explanations (Hardcover)
Loot Price: R4,334
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Diversity in Economic Growth - Global Insights and Explanations (Hardcover)
Series: Global Development Network series
Expected to ship within 10 - 15 working days
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Economists have long relied on cross-country regression analysis to
identify the determinants of continued growth, but with only
limited success. This book demonstrates the value of a different
approach. The editors isolate three attributes that appear to be
associated with long-term growth. First, whatever the form of the
decision-making authority, all are ultimately subject to an element
of political constraint: the population at large must eventually
experience the benefits of growth if the authority is to remain in
power. Broad-based growth is therefore required for growth to be
sustained. Second, given the complexity and dynamism of the world,
and our imperfect understanding of how it works, ideological
rigidity will inevitably prove disastrous, whereas pragmatism and
responsiveness to changing conditions and to ineffective policy
initiatives are more likely to prolong growth. Third,
unconventional substitutes can fill critical gaps while more formal
institutions are being developed, thus hastening the growth process
in the short run. Drawing on the knowledge and understanding of
local circumstances of researchers from the case-study countries,
this book will appeal to post-graduate students studying
development; particularly poverty, trade, investment and migration.
Development practitioners concerned with the impact of
developed-country policies on poverty in the developing world will
also find this a captivating read.
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