Economic Development: A Regional, Institutional, and Historical ApproachM.E. Sharpe, 2013 - 296 pages The second edition of this innovative and affordable book integrates environmental and financial sustainability into its distinctive regional approach. By focusing on political economy in its cultural, religious and historical roots, as well as leadership decisions, it spurs critical thinking. Working through the unique development paths of individual countries, the authors foster integrative thinking and a strong sense of realism about both the prospects and challenges of economic development in the rapidly evolving global economy. The book is exceptional in both its theoretical nuance and accessible writing. An Instructors Manual with discussion questions, a test bank, and PowerPoint slides is available online to professors who adopt the text. |
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Page 12
... accumulates, where gold represented money. For a society that lacked gold, such as England, trade could be regulated so as to promote exports (via subsidy) ... accumulation, specialization and division of labor, and 12 ECONOMIC DEVELOPMENT.
... accumulates, where gold represented money. For a society that lacked gold, such as England, trade could be regulated so as to promote exports (via subsidy) ... accumulation, specialization and division of labor, and 12 ECONOMIC DEVELOPMENT.
Page 13
... accumulation of tools (capital). But this must occur within a competitive market system in which specialization and division of labor accompany capital accumulation. T.R. Malthus (1766–1834) focused his attention on an issue that ...
... accumulation of tools (capital). But this must occur within a competitive market system in which specialization and division of labor accompany capital accumulation. T.R. Malthus (1766–1834) focused his attention on an issue that ...
Page 14
... accumulation drive the growth process, and this, in the short run, drives up the cost of labor (wages). The rise in the wage rate, the standard of living, results in more rapid population growth. If the amount of fertile land is fixed ...
... accumulation drive the growth process, and this, in the short run, drives up the cost of labor (wages). The rise in the wage rate, the standard of living, results in more rapid population growth. If the amount of fertile land is fixed ...
Page 15
... accumulation, and makes decisions based on profit maximization. The traditional sector uses labor and land, and no saving or capital accumulation occurs. Surplus labor exists, and decision making is traditional in nature. Traditional ...
... accumulation, and makes decisions based on profit maximization. The traditional sector uses labor and land, and no saving or capital accumulation occurs. Surplus labor exists, and decision making is traditional in nature. Traditional ...
Page 18
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Contents
3 | |
2 European Emergence | 29 |
3 East Asian Experience | 59 |
Socialist to Market | 97 |
5 SubSaharan Africa | 133 |
6 South Asia | 169 |
7 Latin America | 199 |
8 The Middle East and North Africa | 225 |
What Have We Learned? | 247 |
Index | 257 |
About the Authors | 277 |
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Common terms and phrases
accumulation agricultural productivity agricultural sector areas argued Botswana capital accumulation China Chinese colonial commitment problem costs created decline demographic dividend dependency theorists dependent developing countries diminishing returns discussed domestic dramatically economic development economic growth efflorescence England environment environmental Europe European expansion experience exports extract factors firms GDP per capita growth rate impact important incentive increased India Industrial Revolution industrialization inputs institutional structure investment involved Japan Japanese Kuznets Curve labor land Latin America law of diminishing lineage groups manufacturing MENA modern sector occur output patron-client per-capita GDP per-capita income percent period periphery policies political population growth poverty predatory profit property rights protoindustrial reduce reform region relatively rent seeking result revenue role ruling elite rural significant Smithian growth social society South Asia South Korea Soviet Union sub-Saharan Africa Taiwan theory tion trade transition urban wealth workers