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The Evolution of Development Thinking: Theory and Policy

Author

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  • Gustav Ranis

    () (Economic Growth Center, Yale University)

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.

Suggested Citation

  • Gustav Ranis, 2004. "The Evolution of Development Thinking: Theory and Policy," Working Papers 886, Economic Growth Center, Yale University.
  • Handle: RePEc:egc:wpaper:886
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    File URL: http://www.econ.yale.edu/growth_pdf/cdp886.pdf
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    References listed on IDEAS

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    1. Schultz, T. Paul, 2001. "School subsidies for the poor," FCND briefs 102, International Food Policy Research Institute (IFPRI).
    2. Townsend, Robert M, 1994. "Risk and Insurance in Village India," Econometrica, Econometric Society, vol. 62(3), pages 539-591, May.
    3. 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 223-244, April.
    4. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 70(1), pages 65-94.
    5. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
    6. Srinivasan, T N, 1994. "Human Development: A New Paradigm or Reinvention of the Wheel?," American Economic Review, American Economic Association, vol. 84(2), pages 238-243, May.
    7. Christopher Udry, 1994. "Risk and Insurance in a Rural Credit Market: An Empirical Investigation in Northern Nigeria," Review of Economic Studies, Oxford University Press, vol. 61(3), pages 495-526.
    8. Streeten, Paul, 1994. "Human Development: Means and Ends," American Economic Review, American Economic Association, vol. 84(2), pages 232-237, May.
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    Citations

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    Cited by:

    1. Michael R. Cabalfin & Josef T. Yap, 2008. "Sustainable Development Framework for Local Governance," Governance Working Papers 22619, East Asian Bureau of Economic Research.
    2. 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.
    3. E. Colombatto, 2006. "On economic growth and development," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 19(4), pages 243-260, December.
    4. Alessio Emanuele BIONDO, 2010. "A Growth Rate for a Sustainable Economy," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 5(2(12)/Sum), pages 7-20.
    5. McCullough, Ellen B., 2016. "Occupational Choice and Agricultural Labor Exits in Sub-Saharan Africa," 2016 AAAE Fifth International Conference, September 23-26, 2016, Addis Ababa, Ethiopia 249275, African Association of Agricultural Economists (AAAE).
    6. 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.

    More about this item

    Keywords

    Development Theory; Development Policy;

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General

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