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• Michael Reyes Cabalfin

Over the past sixty years, the concept of development has expanded from economic growth and investment, to poverty reduction, human development, sustainable development, and more recently to institutional development. There has also been a fresh look at industrial policy and the role of the nonfarm economy. These aspects of development are not only important in their own right but are very much interrelated. National development experience shows the importance of investment and infrastructure to growth; the significance of growth, infrastructure, and human development to poverty reduction; the contribution of growth and human development to sustainable development; the effect of nonfarm incomes to growth, poverty reduction, and inequality; and the importance of institutions to growth.

Local development experience also reveals the interrelatedness of the different development aspects: the importance of investment, infrastructure, and human capital to growth and poverty reduction; the role of health to human capital; the significance of human capital to poverty and inequality; the value of human development, institutions, and good governance to sustainable development; the importance of human capital to enterprise development; and in turn of enterprise development to investment and therefore growth as well as to poverty reduction; the contribution of nonfarm incomes to growth and poverty reduction; and the importance of governance to poverty reduction and human development.

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Paper provided by Philippine Institute for Development Studies in its series Discussion Papers with number DP 2008-33.

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Length: 84
Date of creation: 2008
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Handle: RePEc:phd:dpaper:dp_2008-33

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Keywords: economic growth; poverty; sustainable development; inequality; enterprise development; human development; local governance; regional development; nonfarm economy; industry clustering; institutional development;

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1. Magnoli Bocchi, Alessandro, 2008. "Rising growth, declining investment : the puzzle of the Philippines," Policy Research Working Paper Series 4472, The World Bank. [Downloadable!]
2. Acemoglu, Daron & Johnson, Simon & Robinson, James A, 2004. "Institutions as the Fundamental Cause of Long-Run Growth," CEPR Discussion Papers 4458, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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   • Daron Acemoglu & Simon Johnson & James Robinson, 2004. "Institutions As The Fundamental Cause Of Long-Run Growth," DOCUMENTOS CEDE 002889, UNIVERSIDAD DE LOS ANDES-CEDE. [Downloadable!]
   • Daron Acemoglu & Simon Johnson & James Robinson, 2004. "Institutions As The Fundamental Cause Of Long-Run Growth," DOCUMENTOS CEDE 002888, UNIVERSIDAD DE LOS ANDES-CEDE. [Downloadable!]
   • Daron Acemoglu & Simon Johnson & James Robinson, 2004. "Institutions as the Fundamental Cause of Long-Run Growth," NBER Working Papers 10481, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
3. Sen, Amartya, 1988. "The concept of development," Handbook of Development Economics, in: Hollis Chenery† & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 1, chapter 1, pages 9-26 Elsevier. [Downloadable!] (restricted)
4. Gustav Ranis, 2004. "The Evolution of Development Thinking: Theory and Policy," Working Papers 886, Economic Growth Center, Yale University. [Downloadable!]

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This page was last updated on 2009-12-11.