Developing countries have for decades been trying to catch up with
the industrialized high-income countries, but only a few have
succeeded. Historically, structural transformation has been a
powerful engine of growth and job creation. Traditional development
aid is inadequate to address the bottlenecks for structural
transformation, and is hence ineffective. In this book, Justin Yifu
Lin and Yan Wang use the theoretical foundations of New Structural
Economics to examine South-South development aid and cooperation
from the angle of structural transformation. By studying the
successful economic transformation of countries such as China and
South Korea through 'multiple win' solutions based on comparative
advantages and economy of scale, and by presenting new ideas and
different perspectives from emerging market economies such as
Brazil, India and other BRICS countries, they bring a new narrative
to broaden the ongoing discussions of post-2015 development aid and
cooperation as well as the definitions of aid and cooperation.
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