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The Evolution of Development Thinking: Theory and Policy

  • Gustav Ranis

    ()

    (Economic Growth Center, Yale University)

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    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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    File URL: http://www.econ.yale.edu/growth_pdf/cdp886.pdf
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    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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    1. Townsend, Robert M, 1994. "Risk and Insurance in Village India," Econometrica, Econometric Society, vol. 62(3), pages 539-91, May.
    2. Schultz, T. Paul, 2001. "School subsidies for the poor," FCND briefs 102, International Food Policy Research Institute (IFPRI).
    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 223-44, April.
    4. 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.
    5. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S71-102, October.
    6. 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.
    7. Streeten, Paul, 1994. "Human Development: Means and Ends," American Economic Review, American Economic Association, vol. 84(2), pages 232-37, May.
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