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Lance Taylor is widely considered to be one of the pre-eminent
development economists in the world and is known for his work on
development planning, macroeconomics of development, stabilization
policy, and the global economy. He has also been the major force
behind structuralist economics, which is seen by many to be a major
alternative to orthodox development economics and policy
prescriptions. The essays in this volume, written by well-known
scholars in their own right, make contributions to each of these
areas while honoring the contributions made by Lance Taylor.
Professional economists, researchers and policy makers interested
in development economics, political economy, global political
economy and viable alternatives to mainstream thought will find
this collection a valuable addition to their libraries.
This two-volume original reference work provides a comprehensive
overview of development economics and comprises contributions by
some of the leading scholars working in the field. Authors are
drawn from around the world and write on a wide range of topics.
After providing an introduction to the subject (by examining issues
like the meaning and measurement of development, historical and
interdisciplinary approaches, empirical regularities and data
problems), the contributors provide a wealth of perspectives on,
and analyses of, development economics. They discuss alternative
approaches to development, the macroeconomics of growth, factors
and sources of economic development (such as capital, labor,
entrepreneurship, resources and technology), major sectors of
concern (such as agriculture, industry, services and the informal
sector) and international issues (such as trade, capital and labor
flows and technology transfers). Income distribution and poverty,
the state and other institutions, and actual development
experiences are explored. The contributors provide analytical
contributions, as well as the relation between these contributions
and real world and policy issues from a variety of alternative
perspectives. Scholars, students, policymakers and other
development practitioners will all find this comprehensive
reference invaluable.
Latin America has been central to the main debates on development
economics, ranging from the relationships between income inequality
and economic growth, and the importance of geography versus
institutions in development, to debates on the effects of trade,
trade openness and protection on growth and income distribution.
Despite increasing interest in the region there are few English
language books on Latin American economics. This Handbook,
organized into five parts, aims to fill this significant gap.
Part I looks at long-term issues, including the institutional roots
of Latin America's underdevelopment, the political economy of
policy making, the rise, decline and re-emergence of alternative
paradigms, and the environmental sustainability of the development
pattern. Part II considers macroeconomic topics, including the
management of capital account booms and busts, the evolution and
performance of exchange rate regimes, the advances and challenges
of monetary policies and financial development, and the major
fiscal policy issues confronting the region, including a comparison
of Latin American fiscal accounts with those of the OECD. Part III
analyzes the region's economies in global context, particularly the
role of Latin America in the world trade system and the effects of
dependence on natural resources (characteristic of many countries
of the region) on growth and human development. It reviews the
trends of foreign direct investment, the opportunities and
challenges raised by the emergence of China as buyer of the
region's commodities and competitor in the world market, and the
transformation of the Latin America from a region of immigration to
one of massive emigration. Part IV deals with matters of productive
development. At the aggregate level it analyzes issues of
technological catching up and divergence as well as different
perspectives on the poor productivity and growth performance of the
region during recent decades. At the sectoral level, it looks at
agricultural policies and performance, the problems and prospects
of the energy sector, and the effects on growth of lagging
infrastructure development. Part V looks at the social dimensions
of development; it analyzes the evolution of income inequality,
poverty, and economic insecurity in the region, the evolution of
labor markets and the performance of the educational sector, as
well as the evolution of social assistance programs and social
security reforms in the region.
The contributors are leading researchers that belong to different
schools of economic thought and most come from countries throughout
Latin America, representing a range of views and recognising the
diversity of the region. This Handbook is a significant
contribution to the field, and will be of interest to academics,
graduate students and policy makers interested in economics,
political economy, and public policy in Latin America and other
developing economies.
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