Development accounting literature usually attributes the observed cross-country variation in per capita income to differences in countries' factor endowments and total factor productivity (the Solow residual). While the former can be relatively straightforward interpreted and measured, the...

I discuss the role of economic theory in empirical work in development economics with special emphasis on general equilibrium and political economy considerations. I argue that economic theory plays (should play) a central role in formulating models, estimates of which can be used for...

This review essay critically interrogates the discourse and practice of development. It is argued that models of alternative development remain imprisoned in the ontological categories of the development project, an ideological and institutional devise to consolidate the hegemony of the West...

Much of development policy has been based on the search for a short to do list that would get countries moving. In this paper I argue that economic activity requires a large and highly interacting set of public policies and services, which constitute inputs into the production process. This is...

Development economics emerged as a new theoretical approach that focuses on the re-construction of developing countries as the study focus on improving fiscal, economic and social conditioning. Development economics also do an analysis of developing countries from critical assessment, which...

During the last few years, the newly coined term middle-income trap has been widely used by policymakers to refer to the middle-income economies that seem to be stuck in the middle-income range. However, there is no accepted definition of the term in the literature. In this paper, we study...

This study is a review of the recent trends in development economics research. The focus is on the development in the recent decades as a result of increased globalization of knowledge, technologies and economies. In particular I look at the development in a number area where similar trends are...

A Schumpeterian theory of development and underdevelopment in an open global economy with technology transfer, trade and investment is presented. Free trade provides a powerful force for convergence. However, foreign direct investment (FDI), which consolidated during the 19th Century and has...

Development economics has been quot;reloadedquot; in the last decade using an old argument in new clothes. The central pillar of this trend is the idea that market imperfections make private and social returns to diverge and can lead to poverty traps. Escaping quot;poverty trapsquot; requires a...

In recent years, a growing body of economic literature has focused on the phenomenon of the so-called middle-income trap (MIT). The term usually refers to countries that have experienced rapid growth and thus quickly reached middle-income status, but then failed to overcome that income range to...