New Structural Economics : A Framework for Rethinking Development and Policy

Lin, Justin Yifu

ISBN 10: 0821389556 / ISBN 13: 9780821389553

Published by World Bank Publications, 2012

Former library book; may include library markings. Used book that is in excellent condition. May show signs of wear or have minor defects. Seller Inventory # 16494111-6

Synopsis:

Economic development is a process of continuous technological innovation and structural transformation. Development thinking is inherently tied to the quest for sustainable growth strategies. This book provides a neoclassical approach for studying the determinants of economic structure and its transformation and draws new insights for development policy. The market is the basic mechanism for effective resource allocation at each level of development. However, economic development as a dynamic process entails structural changes, including industrial upgrading and diversification and corresponding improvements in hard and soft infrastructure. Such upgrading and improvements require coordination and go hand in hand with large externalities to firms' transaction costs and returns to capital investment. Thus, in addition to an effective market mechanism, the government should play an active role in facilitating structural changes. The book provides empirical evidence in support of this framework as well as concrete advice to development practitioners.

Bibliographic Details

Title: New Structural Economics : A Framework for ...
Publisher: World Bank Publications
Publication Date: 2012
Binding: Soft cover
Condition: Very Good
Edition: 1st Edition.