Development Economics From the Poverty to the Wealth of Nations

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ISBN: 9780199272709 | 0199272700
Cover: Hardcover
Copyright: 4/7/2005

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It is 1868, and Carl Erik's family faces starvation in Sweden. As their hopes fade, they must endure a journey over land and sea to reach a better life in a new country thousands of miles away. Book jacket.

List of Figures

List of Tables

xvii

Introduction

(348)

Scope of development economics

(3)

Organization of the book

(4)

1. A Theoretical Framework for Economic Development

(22)

1.1 Development of the Social System

(7)

1.1.1 A model of dialectic social development

(3)

1.1.2 A historical example

(2)

1.1.3 Marx and new institutionalism

(2)

1.2 The Theory of Induced Innovation

(11)

1.2.1 Induced technological innovation

(4)

1.2.2 Induced institutional innovation

(1)

1.2.3 Logic of political market

(4)

1.2.4 Historical path dependency

(2)

1.3 Developing Economies in the Light of the Theoretical Framework

(4)

2. A Comparative Perspective on Developing Economies

(32)

2.1 Economic Growth and Structural Change

(10)

2.1.1 Per capita GDP and its growth

(5)

2.1.2 Changes in industrial structure

(5)

2.2 Sructure of Capital Accumulation

(7)

2.2.1 Capital formation and savings in economic growth

(2)

2.2.2 External debt and inflation

(4)

2.3 Accumulation of Human Capital

(5)

2.3.1 Measurement of human capital

(1)

2.3.2 Human capital investment and economic growth

(3)

2.4 Population, Natural Resources, and Foods

(9)

2.4.1 Population pressure on natural resources

(2)

2.4.2 Population growth vs. food supply

(7)

3. Population Growth and the Constraint of Natural Resources

(29)

3.1 Population Growth in Economic Development

(10)

3.1.1 Historical changes in world population

(3)

3.1.2 Demographic transition

(3)

3.1.3 The case of India

(3)

3.2 Economic Theories of Population Growth

(5)

3.2.1 The Malthus model

(1)

3.2.2 The household utility maximization model

(4)

3.3 Theories of Resource Constraint on Economic Growth

(14)

3.3.1 From Malthus to the Club of Rome

(2)

3.3.2 The Ricardo model

(5)

3.3.3 The dual economy model

(7)

4. Breaking the Natural Resource Constraint

(30)

4.1 Potential of Science-Based Agriculture

(4)

4.2 A Perspective on the Green Revolution

(11)

4.2.1 Development and diffusion of modern varieties

(2)

4.2.2 Conditions of technology transfer

(5)

4.2.3 External and internal land augmentation

104

(3)

4.3 Barriers to Induced Innovation

107

(8)

4.3.1 Problems in Africa

109

(2)

4.3.2 Whither the Green Revolution?

111

(4)

4.4 Development via Natural Resource Slack

115

(7)

4.4.1 Colonialism and the vent-for-surplus theory

116

(1)

4.4.2 The staple theory

117

(2)

4.4.3 The Dutch disease

119

(3)

5. Capital Accumulation in Economic Development

122

(39)

5.1 From Adam Smith to Marx

123

(10)

5.1.1 Capital in Adam Smith

123

(2)

5.1.2 Ricardo revisited

125

(1)

5.1.3 The Marx model of capitalist development"

126

(5)

5.1.4 The Marx model and the efficiency wage theory

131

(2)

5.2 Development Theories and Policies after World War II

133

(6)

5.2.1 The theory of balanced growth

134

(1)

5.2.2 Application of the Harrod-Domar model

135

(1)

5.2.3 The model of low-equilibrium trap

136

(2)

5.2.4 Development theories and policy choice

138

(1)

5.3 Neoclassical Production Function and Growth Model

139

(6)

5.3.1 Different assumptions of the production function

139

(2)

5.3.2 The Solow-Swan model

141

(4)

5.4 Growth Accounting Test

145

(6)

5.4.1 The growth-accounting equation

145

(3)

5.4.2 Sources of modern economic growth

148

(3)

5.5 Changes in the Pattern of Economic Growth

151

(10)

5.5.1 A historical extension of growth-accounting

152

(3)

5.5.2 A trap in the Marx-type growth

155

(6)

6. Patterns and Sources of Technological Progress

161

(30)

6.1 The Marx vs. the Kuznets Pattern of Economic Growth

161

(7)

6.1.1 Stylization of the two patterns

162

(2)

6.1.2 Trends in the rates of saving, interest, and wages

164

(4)

6.2 Technological Conditions of the Two Growth Patterns

168

(5)

6.2.1 The shift in the industrial technology regime

168

(1)

6.2.2 The shift in the demand structure

169

(2)

6.2.3 Borrowed technology and the Marx-type growth

171

(2)

6.3 Searching for the Sources of Technological Progress

173

(18)

6.3.1 Accounting for TFP growth

173

(3)

6.3.2 Schooling and economic growth

176

(5)

6.3.3 Increasing returns and the endogenous growth model"

181

(3)

6.3.4 Schumpeter and centrally planned economies

184

(4)

6.3.5 Institutional conditions of borrowing technology

188

(3)

7. Income Distribution, Poverty, and Environmental Problems

191

(51)

7.1 Inequality and Poverty

191

(18)

7.1.1 Concepts and measurement of income distribution

191

(4)

7.1.2 Concepts and measurement of poverty

195

(3)

7.1.3 Patterns of changes in inequality and poverty

198

(11)

7.2 Causes of Inequality

209

(7)

7.2.1 Changes in factor shares

209

(1)

7.2.2 The dual economic structure

210

(1)

7.2.3 Agriculture-non-agriculture income differential

211

(2)

7.2.4 On the redistribution of incomes and assets

213

(3)

7.3 Economic Stagnation and Poverty

216

(7)

7.3.1 Income distribution effects of the Green Revolution

217

(3)

7:3.2 A comparison of two villages in Indonesia

220

(3)

7.4 Environmental Problems in Economic Development

223

(19)

7.4.1 The core of environmental problems

224

(2)

7.4.2 Rural poverty and environmental destruction

226

(2)

7.4.3 Industrialization and environmental pollution

228

(4)

7.4.4 Lowering the peak of the inverted-U-shape curve

232

(3)

7.4.5 Towards global coordination

235

(7)

8. Market and State

242

(68)

8.1 The Economic Functions of the Market and the State

242

(8)

8.1.1 Efficiency of the competitive market

244

(1)

8.1.2 Market failure

245

(2)

8.1.3 Government failure

247

(2)

8.1.4 On the choice of economic system

249

(1)

8.2 Around the Infant Industry Protection Argument

250

(7)

8.2.1 Market failure in dynamic economy

251

(1)

8.2.2 Ricardo vs. List

252

(1)

8.2.3 The Listian trap

253

(1)

8.2.4 The import-substitution industrialization policy

254

(3)

8.3 The Rise and Fall of Developmentalist Models

257

(11)

8.3.1 The limit of information and the role of ideology

258

(1)

8.3.2 Defeat of the old developmental market economies

259

(4)

8.3.3 Collapse of the centrally planned economies

263

(2)

8.3.4 Trap of populism

265

(3)

8.4 Success and Failure of the New Developmental Market Economies

268

(12)

8.4.1 The system of new developmental market economies

268

(2)

8.4.2 The source of success

270

(7)

8.4.3 Beyond achieving the catch-up goal

277

(3)

8.5 Resurgence of Market Liberalism and its Consequences

280

(15)

8.5.1 The structural adjustment policy of the IMF and the World Bank

280

(2)

8.5.2 Recurrent crises in Latin America

282

(6)

8.5.3 Financial crisis in East Asia

288

(7)

8.6 From the Washington Consensus to the Post-Washington Consensus

295

(15)

8.6.1 Criticisms of the Washington Consensus

295

(3)

8.6.2 Poverty reduction as an immediate objective

298

(5)

8.6.3 The post-Washington Consensus prospect

303

(7)

9. The Role of Community in Economic Development

310

(39)

9.1 The Economic Functions of Community

311

(6)

9.1.1 Prisoner's dilemma

312

(1)

9.1.2 Trust as a social capital

313

(3)

9.1.3 Supply of local public goods

316

(1)

9.2 Rural Organization in Developing Economies

317

(11)

9.2.1 Dominance of peasants

317

(4)

9.2.2 Management of common-property resources

321

(3)

9.2.3 Landlord-tenant relations

324

(4)

9.3 Economic Rationality in Community: A Perspective from Philippine Villages

328

(11)

9.3.1 Labour hiring by peasants

329

(2)

9.3.2 Income and work-sharing

331

(1)

9.3.3 Changes in the sharing system

332

(3)

9.3.4 The role of community norm

335

(3)

9.3.5 Egoism and altruism

338

(1)

9.4 The Community in Market Development

339

(7)

9.4.1 Ethnic networks and guilds

340

(1)

9.4.2 From the putting-out to the modern subcontracting system

341

(2)

9.4.3 Overcoming the community failure

343

(3)

9.5 Towards an Optimal Combination of the Community, the Market, and the State

346

(3)

10. Tradition and Modernization: A Concluding Remark

349

(13)

10.1 Institutional Innovation for Technology Borrowing

349

(2)

10.2 The Experience of Japan

351

(4)

10.3 Multiple Paths to Economic Modernization

355

(7)

Appendix A: Theoretical Supplements to Technological Progress

362

(12)

A.1 Increases in the capital-labour ratio and shifts in production function

362

(1)

A.2 The classification of technological change

363

(4)

A.3 Changes in the trends of factor prices and factor shares

367

(1)

A.4 Possibilities for induced innovation

368

(2)

A.5 Interpretation by the meta-production function

370

(2)

A.6 Mathematical analysis of changes in factor shares

372

(2)

Appendix B: The Pigou Theorem on Equivalence between Tax and Subsidy in Removing Externality

374

(4)

Appendix C: Theories on the Choice of Land Tenure System

378

(5)

Bibliography

383

(32)

Index of Names

415

(6)

Index of Subjects

421

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Development Economics From the Poverty to the Wealth of Nations

Summary

Author Biography

Table of Contents

Supplemental Materials