Studies in Development Strategy and Systemic Transformation
examines many of the leading issues in economic development. In
Part I, Professor Griffin analyses strategic visions: the role of
culture in long-term economic growth; globalization and its
implications for the territorial state and global governance; the
human development strategy; and the effects of the distribution of
productive assets on the pace of development. Part II is concerned
with systemic transformation and macroeconomic reform. Alternative
reform strategies are analysed for countries trying to effect a
transition from centrally-planned to market-oriented economies.
Shock therapy is severely criticized. An alternative approach to
macroeconomic reform also is presented for sub-Saharan Africa, in
which emphasis is placed on an investment-led strategy of
structural development. A separate chapter is devoted to how an
investment-led strategy could be financed with domestic resources
alone. Part III contains three case studies of low-income
transition economies, two of which are examples of success (Vietnam
and China) and one an example of failure (Kazakhstan).
General
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