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. |
From inside the book
Results 1-5 of 77
Page 7
... labor, unemployment rate) as a proxy for development. Some research institutions have recently developed indexes to serve as more inclusive measures of development. The World Bank introduced the idea of “redistribution with growth” (RWG) ...
... labor, unemployment rate) as a proxy for development. Some research institutions have recently developed indexes to serve as more inclusive measures of development. The World Bank introduced the idea of “redistribution with growth” (RWG) ...
Page 12
... labor must be divided into groups, each of which would specialize in a particular task. This process of specialization and division of labor would lead to productivity growth because specialized labor would become increasingly ...
... labor must be divided into groups, each of which would specialize in a particular task. This process of specialization and division of labor would lead to productivity growth because specialized labor would become increasingly ...
Page 13
... labor, and operating in competitive markets makes everyone better off, as if an invisible hand were guiding economic activities for the benefit of all. In this context “laissez faire” should characterize the government's relation to ...
... labor, and operating in competitive markets makes everyone better off, as if an invisible hand were guiding economic activities for the benefit of all. In this context “laissez faire” should characterize the government's relation to ...
Page 14
... Labor Land Total output MPL APL 1 1 30 30 2 1 45 15 22-1/2 3 1 55 10 18-1/3 4 1 60 5 15 MPL= marginal product of labor; APL = average product of labor. unskilled labor rather than skilled labor via the apprenticeship system. Factory ...
... Labor Land Total output MPL APL 1 1 30 30 2 1 45 15 22-1/2 3 1 55 10 18-1/3 4 1 60 5 15 MPL= marginal product of labor; APL = average product of labor. unskilled labor rather than skilled labor via the apprenticeship system. Factory ...
Page 15
... labor is labor that makes little or no contribution to the level of output, thus its marginal product (in the extreme case) is zero. Labor has increased relative to a fixed amount of land such that the law of diminishing returns has ...
... labor is labor that makes little or no contribution to the level of output, thus its marginal product (in the extreme case) is zero. Labor has increased relative to a fixed amount of land such that the law of diminishing returns has ...
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