Economic development is a process of continuous technological
innovation and structural transformation. Development thinking is
inherently tied to the quest for sustainable growth strategies.
This book provides a neoclassical approach for studying the
determinants of economic structure and its transformation and draws
new insights for development policy. The market is the basic
mechanism for effective resource allocation at each level of
development. However, economic development as a dynamic process
entails structural changes, including industrial upgrading and
diversification and corresponding improvements in hard and soft
infrastructure. Such upgrading and improvements require
co-ordination and go hand in hand with large externalities to
firms' transaction costs and returns to capital investment. Thus,
in addition to an effective market mechanism, the government should
play an active role in facilitating structural changes. The book
provides empirical evidence in support of this framework as well as
concrete advice to development practitioners.
General
Imprint: |
World Bank Publications
|
Country of origin: |
United States |
Release date: |
2012 |
First published: |
2012 |
Authors: |
Justin Yifu Lin
|
Dimensions: |
229 x 154 x 21mm (L x W x T) |
Format: |
Paperback
|
Pages: |
384 |
Edition: |
New |
ISBN-13: |
978-0-8213-8955-3 |
Categories: |
Books >
Business & Economics >
Economics >
Development economics
|
LSN: |
0-8213-8955-6 |
Barcode: |
9780821389553 |
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