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...

It is sometimes claimed that free trade agreements (FTAs) between large countries and smaller developing countries serve as "policy anchors" by acting as a mechanism for the smaller developing country to make credible commitments to policy reform which they might not otherwise make. Such policy...