Argues that strategies encouraging surplus extraction from agriculture, combined with stalled industrialisation constitute the root causes of persistent rural poverty. Suggests that an agriculture-first strategy is necessary not only for rural poverty alleviation, but also for successful...

Reviews the debate and the frameworks in terms of the concept of catching up, the policy issues raised, and the principles guiding the design of industrial policies. Provides a comparative analysis between the growth perspective and the institutional economics approach, draws lessons for the...