This book develops a theoretical framework unlike the conventional neoclassical paradigm for the analysis of growth and deploys analytical data to understand the main policy issues affecting developing countries, with particular attention to countries which, after having a spurt of growth, have been unable to maintain the momentum of their economies. One of the guiding ideas of the book is that each one of these countries has its own middle-income trap. The book focuses the discussion on growth and development around the specific characteristics of these countries and the constraints they face to achieve rapid growth. The book offers the building blocks for an integrated approach to development economics from the perspective of developing economies themselves. It looks at real-life constraints to growth and development, such as institutions, access to financing, macroeconomic policies, the role of foreign direct investment, the pros and cons of trade and financial opening to the rest of the world, education and health issues, sustainable development in a world experiencing global warming, productive development policies, income distribution, and poverty. Further, it offers simple growth models that go beyond the conventional neoclassical model to help the reader understand the unique challenges facing developing countries. While recognizing that growth is necessary to achieve development, the book argues that there are other variables that can be just as important to wellbeing and pays close attention to issues such as health, education, and political freedom. The book summarizes the issues that are crucial for countries to be able to accelerate their growth rates and to achieve development and makes a theoretical contribution to the study of economic development, particularly growth models appropriate to middle-income countries. Thus, it will be a useful guide for researchers and academics in the field of development economics and other social sciences dealing with developing countries.

In the past two decades many developing countries have embraced the challenge of globalization by rushing to dismantle trade barriers and to promote increasingly liberal market-oriented policies. However, a broader response to globalization is both necessary and possible if countries are to develop as quickly and as fully as possible. Exploring this complex interrelationship between globalization, liberalization, and human and social development, this innovative book undertakes a full analysis of development policy, strategy and practice in a variety of countries, with equal weight provided to Asia, Latin America and Africa. An internationally renowned team of contributors examines the complex network of connections and the implications for international development policy, strategy and practice. Advocating the inclusion of sustainable human development as a key element in countries' responses to globalization, key points highlighted include the need to nurture an enabling environment, and to promote education and R&D. These elements, coupled with sound macroeconomic management, are all required in equipping a country to integrate more effectively into the world economy. This innovative new approach to globalization and development set out in this volume will be essential reading for academics and practitioners alike.

In the past two decades many developing countries have embraced the challenge of globalization by rushing to dismantle trade barriers and promoting increasingly liberal market-oriented policies. However, a broader response to globalization is both necessary and possible if countries are to develop as quickly and as fully as possible.
An internationally renowned team of contributors examines the complex network of connections between globalization, liberalization and human and social development and the implications for international development policy, strategy and practice.
"Solving the Riddle of Globalization and Development" advocates the inclusion of sustainable human development as a key element in countries' responses to globalization and builds on many of the best responses to globalization that the programme has encountered: from governments, business and civil society. Key points include the need to nurture an enabling environment, promote education and R&D, expandeconomic choices for everyone and foster a policy-making process that connects all social groups to the economy. These elements, coupled with sound macroeconomics management, are all required in equipping a country to integrate more effectively into the world economy.
The innovative new approach to globalization and development set out in this volume will be essential reading for academics and practitioners alike.