The paper celebrates John Fei's life and contributions to economics by viewing them in the context of recent theoretical and empirical literature on the economics and politics of growth. It summarizes the lessons from the literature and development experience since the end of the second world...

While economic growth raises income and wealth and promotes financial intermediation, financial intermediation facilitates economic growth, since it raises the returns to investment. In this article we study the development of an important informal financial intermediary in Japan, the rotating...

The costs of import substitution (IS) as a strategy for industrialization, which was deemed synonymous with economic development by many development economists of the fifties and sixties, were shown to be substantial in the influential and nuanced studies of the seventies and eighties under the...

The paper celebrates John Fei's life and contributions to economics by viewing them in the context of recent theoretical and empirical literature on the economics and politics of growth. It summarizes the lessons from the literature and development experience since the end of the second world...

This paper raises the question whether the current wave of macro-economic and structural reforms in Latin America should be viewed as a decisive change in the Continent's long-term development strategy or as part of but another stop-go cycle for which the Continent has been known in the past.

The variance in the logarithms of per capita GDP in purchasing power-parity prices increased in the world form 1960 to 1968 and decreased since the mid 170s. In the later period the convergence in intercountry incomes more than offset any increase in within country inequality. Approximately...