This paper uses Polanyi's 1944 analysis of policy change—in which there are long-term swings from state regulation to markets and back again, as the consequences of one regime lead to political reactions that in turn reverse the policies. It shows how the Polanyi analysis continued to apply...

Summary This paper explores the two-way relationship between economic growth (EG) and human development (HD). We develop panel data strategies to estimate the strength of these relationships and find that HD plays an essential role in determining growth trajectories (our measure of sustained...

Globalization is widely regarded as a means not only of ensuring efficiency and growth, but also of achieving equity and development for those countries operating in the global economy. The book argues that this perception of globalization as the road to development has lost its lustre. The...

This book questions what enduring lessons have been learnt about the interdependence of international trade and economic development during the last 50 years. Since the end of the Cold War and the advent of the WTO, developing countries have been forced to face the choice of whether, and to what...

This two-volume original reference work provides a comprehensive overview of development economics and comprises contributions by some of the leading scholars working in the field. Authors are drawn from around the world and write on a wide range of topics.

The idea that measures of happiness, or subjective well-being, should be used as the sole (or dominant) measure of country progress has gained considerable support. This paper traces the origins of the approach in the works of eighteenth-century and nineteenth-century utilitarians, whose...

While there has been a considerable amount of analysis on the impact of structural adjustment policies on poverty and inequality among individuals (or what we define here as vertical inequality - VI), there has been almost none into the impact of structural adjustment on inequality between...

Civil wars not only cause huge amounts of human distress, but are also a major cause of low-incomes. Hence their prevention should be a central aspect of poverty reduction strategies. Since about half low-income countries have been affected by wars, and a much higher proportion of the very worst...