This paper explores the question of structural transformation and income distribution through the eyes of the pioneer in such analysis, Simon Kuznets. It argues that his 1955 paper stands the test of time in providing insights which are relevant to understanding current phenomena like the...

Economic growth leads, according to Kuznets, at first to glaring income disparities and only when a certain state of development has been reached to a levelling of incomes. Translating this thesis to the developing countries, one would have to assume that there exists a constant conflict of...

Recent years have seen a significant focus in the literature on growth and development on the idea that legal and political institutions are the key determinant of economic development. The main finding of this paper is that the focus on the primacy of legal and political institutions may be...

The fact that increasing importance is being attached to foreign trade under the new Chinese leadership must not be mistaken for automatic expansion of the importation of foreign goods. Foreign trade will, as before, have only a complementary function in the economic development of China. For...

The island's rapid industrialisation over the past decade and its development as the main trade and financial centre of South-East Asia, supported by a phenomenal growth in tourism, constitute yet another Asian economic miracle.

The 2009 global recession demonstrated, once again, the importance of crisis prevention as well as the critical need for preserving policy room so that emerging market and developing economies (EMDEs) can act when their economies are hit by shocks. And now, with the global growth outlook still...