Development Economics (4th Edition) (4th Edition)

Author: Giles
Publisher:
Publication Date: 1998-09-01
Features: Since its first publication in 1983, this book has gone through four editions. Its framework includes theoretical elaborations, policy research, case studies, and statistical data, covering the latest findings in economic research. In many universities in the United States and around the world, it is one of the most acclaimed textbooks on development economics, as well as a frequently referenced resource for policymakers in developing countries. Development Economics has five key characteristics: (1) It extensively uses classical and neoclassical theoretical tools, which are highly meaningful for understanding development; (2) It extensively cites the empirical research of economists and economic historians over the past decades, which reveals, explains, and at least narrows the scope of our ignorance about the structure of development; (3) It clearly and frankly discusses the political and institutional frameworks required for economic development; (4) It presents real-world case studies from many countries, using the collective experience of the authors (even to the extent that we find it hard to believe, the authors of this book have combined over 100 years of research on development issues) to illustrate key points; (5) It recognizes the diversity of development experiences reflected in these case studies and argues that theoretical and historical lessons can only be applied within specific institutional contexts and structural frameworks. The structure of this book is similar to previous editions. Part 1 outlines the concept and measurement of development, uses theories to explain it, and focuses on a series of data to analyze and define economic development. Part 2 examines various methods of development management, particularly planning and the corresponding market; it also discusses under what conditions and to what extent development can be sustainable, as well as how people can promote development and benefit from it. Part 3 discusses the role of human resources in development and the transformations in lives brought about by development. Part 4 introduces the other major material inputs for development—capital, covering topics such as domestic savings and investment, fiscal policy, financial policy...