Alternative strategies for economic development / Keith Griffin.

Format:

Book

Author/Creator:

Griffin, Keith B., 1938-

Language:

English

Subjects (All):

Developing countries--Economic policy.

Developing countries.

Economic policy.

Developing countries--Economic conditions.

Economic conditions.

Economic development.

Physical Description:

xxviii, 269 pages : illustrations ; 25 cm

Edition:

Second edition.

Place of Publication:

Houndsmills, Basingstoke, Hampshire, [England] : MacMillan Press ; New York : St. Martin's Press, in association with OECD Development Centre, 1999.

Summary:

Alternative strategies for economic development create great controversy and intense debate among practitioners and academics concerned with economic and social progress in the third world. The core of this book analyzes the six most widely adopted strategies of development, namely monetarism, the open economy, industrialization, the green revolution or agricultured development, redistributive strategies of development and socialist strategies. The strengths and weaknesses of each strategy are assessed and then compared. This second edition contains a new introduction in which the human development strategy, the transition strategies followed in the ex-socialist countries, and globalization and its effects on development are all discussed.

Contents:

Chapter 1. Development in Historical Context 1

Growth rates in the Third World, yesterday and today 3

A comparison with the rich countries 6

Social indicators of development 7

Poverty and inequality 10

The distribution of income 14

Building new nations 18

Chapter 2. Many Paths to Development 24

A classification of strategies 25

A few methodological issues 32

Chapter 3. Monetarism 37

Price formation and economic efficiency 42

Key prices and price distortions 44

The monetarist reforms in Chile 50

Monetarism in Argentina 59

Chapter 4. The Open Economy 68

Government intervention and endogenous distortions 70

Policy-imposed distortions 71

Exports and growth 72

Arithmetical implications of an open economy 75

Growth and change in the world economy 77

International capital movements 82

The international migration of labour 85

Evidence from some countries 89

Chapter 5. Industrialisation 100

Industry in the Third World 102

Third World manufacturing in a global context 104

Three approaches to industrialisation 109

Brazil: from import substitution to exports of manufactures 114

India: the State, capital goods and self-reliance 117

South Korea: planned exports of manufactures 121

Chapter 6. The Green Revolution Strategy 132

Poverty and prices 136

Productivity and the size of farm 141

The early green revolution 144

Agricultural growth and rural poverty in India 147

A complete strategy of agriculture-led development 151

Miracle rice in the Philippines 153

Recent policy reforms in Bangladesh 156

Chapter 7. Redistributive Strategies 164

Redistribution on the margin 168

Redistribution of productive assets 171

Alternative paths to satisfying basic needs 177

Redistributive strategies in practice 179

The flawed strategy in Sri Lanka 181

Chapter 8. Socialist Strategies of Development 194

Four strategies 201

The Chinese challenge to Soviet orthodoxy 205

The strategy of self-reliance: the case of North Korea 208

Investment and industrial production 210

Socialist agriculture in practice 212

Social services and the distribution of income 216

Chapter 9. The Strategies Compared 226

Resource utilisation and the level of income 228

Savings, investment and growth 230

Human capital formation 232

Poverty and inequality 234

The role of the state 236

Participation, democracy and freedom 240.

Notes:

Includes bibliographical references (pages 243-261) and index.

ISBN:

0312223390

0312223404

OCLC:

40715582