Important lessons for policy makers are provided here as
contributors evaluate the effectiveness of domestic economic
policies and the recommendations of international organizations
such as the World Bank regarding the economic development of
developing countries. Challenges posed by debt problems,
corruption, population dynamics, poverty, and the absence of
adequate human and physical capital are highlighted. Contributors
cast doubts on the conclusions of the prevailing theories of
economic development with patterns of economic change over the
course of the 20th century. Their findings point out the issue of
inadequate social capability as a critical factor in understanding
the lack of economic development in many developing countries. They
suggest that contemporary theorizing tends to pinpoint necessary
but insufficient conditions for the successful implementation of
development strategies in these countries.
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