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Book Cover
Author Lin, Justin Yifu, 1952-

Title New structural economics : a framework for rethinking development and policy / Justin Yifu Lin
Published Washington, D.C. : World Bank, 2012


Description 1 online resource (xi, 371 pages)
Contents New Structural Economics: A Framework for Rethinking Development -- Comments -- Rejoinder: Development Thinking 3.0: The Road Ahead -- The Growth Report and New Structural Economics -- Debate: Should Industrial Policy in Developing Countries Conform to Comparative Advantage or Defy It? -- Growth Identification and Facilitation: The Role of the State in the Dynamics of Structural Change -- Comments and Rejoinder -- Applying the Growth Identification and Facilitation Framework: The Case of Nigeria -- Financial Structure and Economic Development -- Development Strategy, Institutions, and Economic Performance -- The Path to a Golden Age of Industrialization in the Developing World
Summary "Economic development is a process of continuous technological innovation and structural transformation. Development thinking is inherently tied to the quest for sustainable growth strategies. This book provides a neoclassical approach for studying the determinants of economic structure and its transformation and draws new insights for development policy. The market is the basic mechanism for effective resource allocation at each level of development. However, economic development as a dynamic process entails structural changes, including industrial upgrading and diversification and corresponding improvements in hard and soft infrastructure. Such upgrading and improvements require coordination and go hand in hand with large externalities to firms' transaction costs and returns to capital investment. Thus, in addition to an effective market mechanism, the government should play an active role in facilitating structural changes. The book provides empirical evidence in support of this framework as well as concrete advice to development practitioners"--Publisher's description
Bibliography Includes bibliographical references and index
Notes English
Subject Economic development.
Neoclassical school of economics.
economic development.
BUSINESS & ECONOMICS -- Development -- Business Development.
BUSINESS & ECONOMICS -- Development -- Economic Development.
BUSINESS & ECONOMICS -- Development -- General.
BUSINESS & ECONOMICS -- Government & Business.
BUSINESS & ECONOMICS -- Structural Adjustment.
POLITICAL SCIENCE -- Public Policy -- Economic Policy.
Economic development
Neoclassical school of economics
Form Electronic book
LC no. 2011050744
ISBN 9780821389577