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Swings of the Pendulum: A Review of Theory and Practice in Development Economics

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  • A.J. Kondonassis
  • A.G. Malliaris
  • T.O. Okediji

Abstract

The first purpose of this paper is to reveal some insights offered by our experiences in theorizing about development economics and in doing so to shed some light on the current state of economic development. The second purpose of this paper is to review some practices of economic development planning. These practices have initially followed swings in antithetical positions. Yet, it will be argued that eventually development practices have followed a synthetic or evolutionary process. Some of the findings of the paper include that theories and policies have a time and place; that development planning strategies must recognize both the economic and non economic characteristics of less developed countries; that development planning strategies should be country specific.

Suggested Citation

  • A.J. Kondonassis & A.G. Malliaris & T.O. Okediji, 2000. "Swings of the Pendulum: A Review of Theory and Practice in Development Economics," The American Economist, Sage Publications, vol. 44(1), pages 17-23, March.
    • Handle: RePEc:sae:amerec:v:44:y:2000:i:1:p:17-23
    DOI: 10.1177/056943450004400103
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    References listed on IDEAS

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    1. Theodore W. Schultz, 1962. "Reflections on Investment in Man," NBER Chapters, in: Investment in Human Beings, pages 1-8, National Bureau of Economic Research, Inc.
    2. Irma Adelman, 1995. "Institutions and Development Strategies," Books, Edward Elgar Publishing, number 2.
    3. Maro, Paul S., 1990. "The impact of decentralization on spatial equity and rural development in Tanzania," World Development, Elsevier, vol. 18(5), pages 673-693, May.
    4. Joel Samoff, 1990. "Decentralization: The Politics of Interventionism," Development and Change, International Institute of Social Studies, vol. 21(3), pages 513-530, July.
    5. Michael P. Todaro, 1995. "Reflections On Economic Development," Books, Edward Elgar Publishing, number 431.
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    1. José Luis Ruiz-Real & Juan Uribe-Toril & Jaime De Pablo Valenciano & José Ramos Pires Manso, 2019. "Ibero-American Research on Local Development. An Analysis of Its Evolution and New Trends," Resources, MDPI, vol. 8(3), pages 1-16, July.
    2. Łukasz Jabłoński, 2008. "Ewolucja poglądów na temat konwergencji w ekonomii rozwoju," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 5-6, pages 25-46.
    3. David Asmat-Campos & Ángel Carreño-Ortega & Manuel Díaz-Pérez, 2019. "Recovering-Innovation-Exportation Triangle as an Instrument for Sustainable Development: Proposal for Peruvian Agro-Export Development," Sustainability, MDPI, vol. 11(4), pages 1-14, February.

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