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Economic development is a process of continuous industrial and technological upgrading in which any country, regardless of its level of development, can succeed if it develops industries that are consistent with its comparative advantage, determined by its endowment structure. The secret winning...
Persistent link: https://www.econbiz.de/10009143719
Despite its heavy human, financial, and economic cost, the recent global recession provides a unique opportunity to reflect on the knowledge from several decades of growth research, draw policy lessons from the experience of successful countries, and explore new approaches going forward. In an...
Persistent link: https://www.econbiz.de/10008508339
This paper provides an historical overview of both the evolution of the economic performance of the developing world and the evolution of economic thought on development policy. The 20th century was broadly characterized by divergence between high-income countries and the developing world, with...
Persistent link: https://www.econbiz.de/10010829498
economic growth, and create the basis for further sustained reduction in unemployment, poverty and income inequality. Failure …
Persistent link: https://www.econbiz.de/10010829732
Modern economic development is accompanied by the structural transformation from an agrarian to an industrial economy and occurs through a process of continuous industrial and technological upgrading. Since the 18th century, all countries that industrialized successfully in Europe, North America...
Persistent link: https://www.econbiz.de/10010535185
The authors develop an endogenous growth model that combines structural change with repeated product improvement. That is, the technologies in one sector of the model become not only increasingly capital-intensive, but also progressively productive over time. Application of the basic model to...
Persistent link: https://www.econbiz.de/10005116604
Persistent link: https://www.econbiz.de/10004987192
economy, as well as in higher quality and better targeted social services, will be crucial for improving income inequality and …
Persistent link: https://www.econbiz.de/10010829610
This paper presents a three-sector static model to explore the rationale for a series of institutional distortions in developing countries. The authors argue that, after World War II, motivated by a belief in the development of state-of-the-art industries as a means for nation building, the...
Persistent link: https://www.econbiz.de/10005106912
This paper analyzes the historical evolution of the international monetary system in the context of the rising role of developing countries in the world economy and the emerging multi-polar growth setting. It evaluates the stability of the current"non-system"and how the global economic context...
Persistent link: https://www.econbiz.de/10010548494