The highest rates of growth of labor productivity in the Soviet Union were observed not in the 1930s (3% annually), but in the 1950s (6%). The TFP growth rates by decades increased from 0.6% annually in the 1930s to 2.8% in the 1950s and then fell monotonously becoming negative in the 1980s. The...

This chapter is an attempt to interpret recent rapid Chinese growth in a longer term perspective. First, it is argued that recent economic liberalization produced spectacular results (1979-onwards) because reform strategy was very different from the Washington consensus package (gradual rather...

Strict protection of IPR can have a negative effect on economic development. Regression of economic growth on these indices produces conventional results (positive effect of stricter protection of IPR on growth) only if indices of institutional capacity (government effectiveness, control over...

If there is a negative terms of trade or financial shock leading to the deterioration in the balance of payments, there are two basic options for a country that has limited foreign exchange reserves. First, a country can maintain a fixed exchange rate (or even a currency board) and wait until...

This paper examines the impact that development theories have had on development policies, and the inverse impact of actual successes and failures in the global South on development thinking. It is argued that development thinking is at the cross-roads. Development theories in postwar period...