IDEAS home Printed from https://ideas.repec.org/p/ags/umaesp/13901.html
   My bibliography  Save this paper

Capitalism In Human Scale: Are There "Virtuous Circles" In Economic Growth And Human Development In Achieving A Newly Industrialized Country Status?

Author

Listed:
  • Mendis, Patrick

Abstract

The purpose of this paper is two-fold: the first part is to understand the "virtuous circles" of economic growth and human development; the second part is to review the development literature related to this discussion. For this, the evolving development strategies of Sri Lanka and South Korea and the seemingly convergent two schools of thinking are briefly outlined in Section II. Section III surveys the pace of economic and human progress to give a broad background of the debate. Section IV analyzes the economic growth and human development in selected Industrialized Countries, Newly Industrialized Countries (NICs), Emerging NICs, and Aspiring South Asian neighbors of Sri Lanka...In the second part of the paper, a discussion of economic development literature and the experience of NICs are reviewed to learn from their policies and strategies in Section V.

Suggested Citation

  • Mendis, Patrick, 1995. "Capitalism In Human Scale: Are There "Virtuous Circles" In Economic Growth And Human Development In Achieving A Newly Industrialized Country Status?," Staff Papers 13901, University of Minnesota, Department of Applied Economics.
    • Handle: RePEc:ags:umaesp:13901
    DOI: 10.22004/ag.econ.13901
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/13901/files/p95-09.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.13901?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Bhagwati, Jagdish N., 1988. "Poverty and public policy," World Development, Elsevier, vol. 16(5), pages 539-555, May.
    3. repec:bla:kyklos:v:42:y:1989:i:2:p:203-17 is not listed on IDEAS
    4. Ahluwalia, Montek S. & Carter, Nicholas G. & Chenery, Hollis B., 1979. "Growth and poverty in developing countries," Journal of Development Economics, Elsevier, vol. 6(3), pages 299-341, August.
    5. Mendis, Patrick, 1992. "The Political Economy Of Poverty Alleviation In Developing Countries: Is Sri Lanka Really An Exception?," Staff Papers 14052, University of Minnesota, Department of Applied Economics.
    6. Willis Peterson, 1994. "Overinvestment in Public Sector Capital," Cato Journal, Cato Journal, Cato Institute, vol. 14(1), pages 65-73, Spring/Su.
    7. Summers, Lawrence H & Thomas, Vinod, 1993. "Recent Lessons of Development," The World Bank Research Observer, World Bank, vol. 8(2), pages 241-254, July.
    8. Ruttan, Vernon W, 1988. "Cultural Endowments and Economic Development: What Can We Learn from Anthropology?," Economic Development and Cultural Change, University of Chicago Press, vol. 36(3), pages 247-271, Supplemen.
    9. Isenman, Paul, 1980. "Basic needs: The case of Sri Lanka," World Development, Elsevier, vol. 8(3), pages 237-258, March.
    10. Willis Peterson, 1989. "Rates of Return on Capital: An International Comparison," Kyklos, Wiley Blackwell, vol. 42(2), pages 203-217, August.
    11. Sen, Amartya, 1981. "Public Action and the Quality of Life in Developing Countries," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 43(4), pages 287-319, November.
    12. Ruttan, Vernon W., 1995. "Cultural endowments and economic development: Implications for the Chinese economies," China Economic Review, Elsevier, vol. 6(1), pages 91-104.
    13. Pack, Howard & Westphal, Larry E., 1986. "Industrial strategy and technological change : Theory versus reality," Journal of Development Economics, Elsevier, vol. 22(1), pages 87-128, June.
    14. Nanak Kakwani, 1986. "Income Inequality, Welfare and Poverty in a Developing Economy with Applications to Sri Lanka," WIDER Working Paper Series wp-1986-004, World Institute for Development Economic Research (UNU-WIDER).
    15. Caldwell, John & Gajanayake, Indra & Caldwell, Pat & Peiris, Indrani, 1989. "Sensitization to illness and the risk of death: An explanation for Sri Lanka's approach to good health for all," Social Science & Medicine, Elsevier, vol. 28(4), pages 365-379, January.
    16. Bhalla, Surjit S & Glewwe, Paul, 1986. "Growth and Equity in Developing Countries: A Reinterpretation of the Sri Lankan Experience," The World Bank Economic Review, World Bank, vol. 1(1), pages 35-63, September.
    17. Streeten, Paul & Burki, Shahid Javed, 1978. "Basic needs: Some issues," World Development, Elsevier, vol. 6(3), pages 411-421, March.
    18. Rajapatirana, Sarath, 1988. "Foreign trade and economic development: Sri Lanka's experience," World Development, Elsevier, vol. 16(10), pages 1143-1157, October.
    19. Ahluwalia, Montek S., 1976. "Inequality, poverty and development," Journal of Development Economics, Elsevier, vol. 3(4), pages 307-342, December.
    20. Sen, Amartya, 1983. "Development: Which Way Now?," Economic Journal, Royal Economic Society, vol. 93(372), pages 742-762, December.
    21. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mendis, Patrick, 1997. "Impact Of Globalization: The Incidence Of Poverty And Food Security Policies In Sri Lanka," Staff Papers 14180, University of Minnesota, Department of Applied Economics.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mendis, Patrick, 1992. "The Political Economy Of Poverty Alleviation In Developing Countries: Is Sri Lanka Really An Exception?," Staff Papers 14052, University of Minnesota, Department of Applied Economics.
    2. Indrani Chakraborty, 2010. "Living Standard and Economic Growth: A Fresh Look at the Relationship Through The Nonparametric Approach," Working Papers id:3161, eSocialSciences.
    3. repec:ilo:ilowps:265729 is not listed on IDEAS
    4. Ruttan, Vernon W., 1998. "Growth Economics And Development Economics: What Should Development Economists Learn (If Anything) From The New Growth Theory?," Bulletins 12972, University of Minnesota, Economic Development Center.
    5. Saith A., 1989. "Development strategies and the rural poor," ILO Working Papers 992657293402676, International Labour Organization.
    6. Ganegodage, K. Renuka & Rambaldi, Alicia N., 2011. "The impact of education investment on Sri Lankan economic growth," Economics of Education Review, Elsevier, vol. 30(6), pages 1491-1502.
    7. Partha Dasgupta, 1989. "Well-Being: Foundations, and the Extent of its Realization in Poor Countries," WIDER Working Paper Series wp-1989-080, World Institute for Development Economic Research (UNU-WIDER).
    8. Kholeka Mdingi & Sin-Yu Ho, 2023. "Income inequality and economic growth: An empirical investigation in South Africa," Cogent Economics & Finance, Taylor & Francis Journals, vol. 11(2), pages 2230027-223, June.
    9. Nguyen, Cuong, 2003. "A Review of the Relation between Economic Growth, Inequality and Poverty," MPRA Paper 85705, University Library of Munich, Germany.
    10. Carlo Pietrobelli, 1994. "Technological Capabilities at the National Level: An International Comparison of Manufacturing Export Performance," Development Policy Review, Overseas Development Institute, vol. 12(2), pages 115-148, June.
    11. Akhand Akhtar Hossain, 2009. "Central Banking and Monetary Policy in the Asia-Pacific," Books, Edward Elgar Publishing, number 12777.
    12. Gene M. Grossman & Elhanan Helpman, 1994. "Endogenous Innovation in the Theory of Growth," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 23-44, Winter.
    13. Cook, Paul & Uchida, Yuichiro, 2008. "Structural change, competition and income distribution," The Quarterly Review of Economics and Finance, Elsevier, vol. 48(2), pages 274-286, May.
    14. Pau Insa-Sánchez, 2021. "Inequality of Opportunity in Access to Secondary Education in 19th Century," Documentos de Trabajo (DT-AEHE) 2106, Asociación Española de Historia Económica.
    15. Alejandro Diaz Bautista & Mauro Diaz Dominguez, 2004. "Capital Humano y Crecimiento Económico en México (1970-2000). Human Capital and Economic Growth in Mexico," Urban/Regional 0405008, University Library of Munich, Germany.
    16. Kanbur, Ravi, 2000. "Income distribution and development," Handbook of Income Distribution, in: A.B. Atkinson & F. Bourguignon (ed.), Handbook of Income Distribution, edition 1, volume 1, chapter 13, pages 791-841, Elsevier.
    17. Ahmed, Sadiq & Ranjan, Priya, 1995. "Promoting growth in Sri Lanka : lessons from East Asia," Policy Research Working Paper Series 1478, The World Bank.
    18. Muhammad Ali & Abiodun Egbetokun & Manzoor Hussain Memon, 2018. "Human Capital, Social Capabilities and Economic Growth," Economies, MDPI, vol. 6(1), pages 1-18, January.
    19. Ha-Joon Chang & Ali Cheema & L. Mises, 2002. "Conditions For Successful Technology Policy In Developing Countries—Learning Rents, State Structures, And Institutions," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 11(4-5), pages 369-398.
    20. Bhalla, Surjit S. & Leiserson, Mark, 1982. "Issues in the Measurement and Analysis of Income Distribution in Developing Countries: Some Comparative Perspectives," 1982 Conference, August 24-September 2, 1982, Jakarta, Indonesia 182444, International Association of Agricultural Economists.
    21. Datt, Gaurav & Gunewardena, Dileni, 1997. "Some aspects of poverty in Sri Lanka : 1985-90," Policy Research Working Paper Series 1738, The World Bank.

    More about this item

    Keywords

    International Development;

    Statistics

    Access and download statistics

    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:ags:umaesp:13901. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/daumnus.html .

    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.