Publisher's Synopsis
Written in exceptionally clear language, this comprehensive introduction to development economics features an abundance of real-world examples. It focuses on real problems of developing countries and their people.* NEW - Features a new chapter on natural resources and the environment. * NEW - Provides a more detailed and balanced discussion of the economic adjustment to reduce the external deficit while accelerating economic growth, decreasing unemployment, and attaining price stability in developing countries - making the transition to a market economy. * Analyzes and assesses the roles of rich nations, the International Monetary Fund (IMF), and the World Bank * Examines the lessons learned during the reforms of the 1980s and 1990s. * NEW - Adds discussion of the South Korean and Taiwanese development approaches and whether there has been an "Asian miracle," to previous material on why economic growth originated in the West; the Japanese growth model; and explanations of different growth rates among developing countries.;* NEW - Reorganizes the chapters on factors of growth to accommodate instructors who integrate the discussion of population with basic concepts of economic development and income distribution. * NEW - Considers the effect of productivity growth in the last 150 years on the living standards in the United States, Canada, and other developed countries. * NEW - Expands coverage of rural and urban poverty, and income distribution. * NEW - Integrates the perspectives of Ronald Coase and Oliver Williamson that the choice between organization within the firms or by the market depends on the transactions costs of using the price system. * Offers an even-handed and objective approach - with critical discussion of neoclassical/ institutional and dependency analyses. * Focuses clearly on real problems of developing countries - rather than on esoteric models of aggregate economic growth. * Emphasizes poverty, inequality, unemployment, and deficiencies in food, clothing, housing, education, and health of the people. * Integrates case studies into the discussion of major concepts.;* Contains a review of terms, discussion questions, and a high quality of citations and suggested readings for each chapter.
