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The Evolution of Development Thinking: Theory and Policy

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  • Gustav Ranis

    ()
    (Economic Growth Center, Yale University)

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    Abstract

    This paper makes an effort to trace the course of development thinking and associated development policy over the past six decades. Section I focuses on the early Post-War Consensus, with theory focused on extensions of classical dualism theory and policy concentrating on creating the pre-conditions for development. Section II traces the increasing awareness of the role of prices, a diminishing reliance on the developmentalist state and an increased reliance on structural adjustment lending associated with IFI conditionality. Section III illuminates the search for "silver bullets" which can be identified as key to the achievement of success. Finally, Section IV presents the author's assessment of where we are now and where we will, or should be, heading in the effort to achieve the third world's basic development objectives.

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    Bibliographic Info

    Paper provided by Economic Growth Center, Yale University in its series Working Papers with number 886.

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    Length: 38 pages
    Date of creation: May 2004
    Date of revision:
    Handle: RePEc:egc:wpaper:886

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    Keywords: Development Theory; Development Policy;

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    1. Schultz, T. Paul, 2001. "School subsidies for the poor," FCND discussion papers 102, International Food Policy Research Institute (IFPRI).
    2. Srinivasan, T N, 1994. "Human Development: A New Paradigm or Reinvention of the Wheel?," American Economic Review, American Economic Association, vol. 84(2), pages 238-43, May.
    3. Townsend, R.M., 1991. "Risk and Insurance in Village India," University of Chicago - Economics Research Center 91-3, Chicago - Economics Research Center.
    4. Rosenzweig, Mark R & Wolpin, Kenneth I, 1993. "Credit Market Constraints, Consumption Smoothing, and the Accumulation of Durable Production Assets in Low-Income Countries: Investment in Bullocks in India," Journal of Political Economy, University of Chicago Press, vol. 101(2), pages 223-44, April.
    5. Streeten, Paul, 1994. "Human Development: Means and Ends," American Economic Review, American Economic Association, vol. 84(2), pages 232-37, May.
    6. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S71-102, October.
    7. Udry, Christopher, 1994. "Risk and Insurance in a Rural Credit Market: An Empirical Investigation in Northern Nigeria," Review of Economic Studies, Wiley Blackwell, vol. 61(3), pages 495-526, July.
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    Cited by:
    1. Nadeem Ul Haque, 2006. "Beyond Planning and Mercantilism: An Evaluation of Pakistan’s Growth Strategy," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 45(1), pages 3-48.
    2. E. Colombatto, 2006. "On economic growth and development," The Review of Austrian Economics, Springer, vol. 19(4), pages 243-260, December.
    3. Yap, Josef T. & Cabalfin, Michael R., 2008. "Sustainable Development Framework for Local Governance," Discussion Papers DP 2008-33, Philippine Institute for Development Studies.
    4. Maswana, Jean-Claude, 2006. "A New Framework for African Economic Development with a Focus on Technological Innovation," MPRA Paper 5550, University Library of Munich, Germany.

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