Summary Judgment

Summary Judgment Decades of experience in dozens of countries have led many development economists to the following summary view of the way government can best promote rapid economic development: The government has a vital role in establishing and maintaining a...

Growth and Openness

Growth and Openness A fundamental issue of economic development concerns a country’s stance toward international trade.Should developing countries attempt to be self sufficient, replacing most imports with domestic. production? (This is known as a strategy of...

State vs. Market

State vs. Market The cultures of nanny developing countries are hostile to the operation of markets. Often, competition among firms or profit-seeking behavior is Conrad to traditional practices, religious beliefs, or vested interests, Yet decades of experience suggest...

The Backwardness Hypothesis

The Backwardness Hypothesis One view emphasizes the international context of development. We saw above that poorer countries have important advantages that the first pioneers along • the path of industrialization did 1I0t. Developing “nations can now draw upon...