Development Economics: From the Poverty to the Wealth of Nations

Paperback | February 15, 2005

byYujiro Hayami, Yoshihisa Godo

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This textbook provides a comprehensive, systematic treatise on development economics, combining classical political economy, modern institutional theory, and current development issues. Grown out of twenty years' experience of teaching in the United States and Japan, its treatment is global,although the organizing principle is the East Asian development experience. Taking a comparative institutional analysis approach, it also outlines quantitative characteristics of Third World development in terms of population growth, natural resource depletion, capital accumulation, andtechnological change.Development Economics addresses one major question: Why has a small set of countries achieved a high level of affluence while the majority remain poor and stagnant? One obvious factor is a the ability to adopt and develop advanced technology, due in large measure to the difficulty experienced bylow-income economies in preparing appropriate institutions for borrowing advanced technology given their social and cultural constraints. This volume explores the nature of these constraints, with the aim of identifying the means to remove them, and examines countries where the constraints have beensuccessfully lifted---most notably Japan and East Asian NIEs.This fully revised and updated third edition also incorporates analyses of several recent changes and newly emerged problems relevant to the global economy: recurrent economic crises in Latin America contrasted with the recovery of East Asia from the 1997-8 financial crisis; a paradigm change ininternational development assistance from 'the Washington Consensus' to the 'the Post-Washington Consensus', with a major shift in its focus from economic growth to poverty reduction as manifested in the United Nations' Millennium Development Goals; and the stalemate in international collaborationon the environment as represented by delays in the ratification of the Kyoto Protocol. In exploring these issues, Development Economics provides important lessons on what institutions can promote economic growth, reduce poverty, and conserve the environment through the borrowing of technology.

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This textbook provides a comprehensive, systematic treatise on development economics, combining classical political economy, modern institutional theory, and current development issues. Grown out of twenty years' experience of teaching in the United States and Japan, its treatment is global,although the organizing principle is the East...

Yujiro Hayami is Chairman of the Graduate Faculty at the Foundation for Advanced Studies on International Development and Professor at the National Graduate Institute of Policy Studies, Tokyo. Yoshihisa Godo is Associate Professor of Economics at Meijigakuin University and Visiting Associate Professor at the National Graduate Institut...

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Format:PaperbackDimensions:448 pages, 9.21 × 6.14 × 1.01 inPublished:February 15, 2005Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199272719

ISBN - 13:9780199272716

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Table of Contents

Introduction1. A Theoretical Framework for Economic Development2. A Comparative Perspective on Developing Economies3. Population Growth and the Constraint of Natural Resources4. Breaking the Resource Constraint5. Capital Accumulation and Economic Development6. Patterns and Sources of Technological Progress7. Income Distribution and Environmental Problems8. Market and State9. The Role of Community in Economic Development10. Tradition and Modernization: A Concluding RemarkBibliographyIndex

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`A comprehensive textbook on development economics.'Development Policy Review