IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-3-030-50888-3_21.html
   My bibliography  Save this book chapter

Economic Development, Transition, and New Structural Economics

In: The Palgrave Handbook of Comparative Economics

Author

Listed:
  • Justin Yifu Lin

    (Peking University)

Abstract

Development economics is a new sub-discipline in modern economics. Its first generation, the Structuralism, focused on market failures and advised the government to adopt import-substitution strategy to develop modern industries. Its second generation, the Neoliberalism, focused on government failures and advised the government to implement Washington Consensus reform with a shock therapy to transit to a well-functioning market system. Developing countries, following the Structuralism and Neoliberalism, failed to achieve development and transition successfully. This chapter introduces the third generation of development economics, the New Structural Economics, which emphasizes the endogeneity of structure for countries at different levels of development and provides pragmatic guide to formulate industrial policy for accelerating economic development. This chapter calls for a structural revolution in modern economics.

Suggested Citation

  • Justin Yifu Lin, 2021. "Economic Development, Transition, and New Structural Economics," Springer Books, in: Elodie Douarin & Oleh Havrylyshyn (ed.), The Palgrave Handbook of Comparative Economics, edition 1, chapter 21, pages 545-560, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-50888-3_21
    DOI: 10.1007/978-3-030-50888-3_21
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-3-030-50888-3_21. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.