This is an attempt to derive broad, strategic lessons from the diverse experience with economic growth in last fifty years. The paper revolves around two key arguments. One is that neoclassical economic analysis is a lot more flexible than its practitioners in the policy domain have generally...

Global outlook : a fragile recovery -- Special focus 1 : Debt dynamics in emerging market and developing economies : time to act? -- Special focus 2 : Arm's-length trade : a source of post-crisis trade weakness -- Regional outlooks.

Developing countries made considerable gains during the first decade of the 21st century. Their economies grew at unprecedented rates, resulting in large reduction in extreme poverty and a significant expansion of the middle class. But more recently that progress has slowed with an economic...

Anyone who undertakes to produce a volume of surveys in economic development must confront the question: Does the world really need another one? The field changes over time and, one hopes, knowledge accumulates. So, one motive is the desire to cover the more recent advances. And indeed, economic...