The study of development in low-income countries is attracting more
attention around the world than ever before. Yet until now there has
been no comprehensive text that incorporates the huge strides made in
the subject over the past decade. Development Economics does precisely
that in a clear, rigorous, and elegant fashion. Debraj Ray, one of the
most accomplished theorists in development economics today, presents
in this book a synthesis of recent and older literature in the field
and raises important questions that will help to set the agenda for
future research. He covers such vital subjects as theories of economic
growth, economic inequality, poverty and undernutrition, population
growth, trade policy, and the markets for land, labor, and credit. A
common point of view underlies the treatment of these subjects: that
much of the development process can be understood by studying factors
that impede the efficient and equitable functioning of markets.
Diverse topics such as the new growth theory, moral hazard in land
contracts, information-based theories of credit markets, and the
macroeconomic implications of economic inequality come under this
common methodological umbrella. The book takes the position that there
is no single cause for economic progress, but that a combination of
factors--among them the improvement of physical and human capital, the
reduction of inequality, and institutions that enable the background
flow of information essential to market performance--consistently
favor development. Ray supports his arguments throughout with examples
from around the world. The book assumes a knowledge of only
introductory economics and explains sophisticated concepts in simple,
direct language, keeping the use of mathematics to a minimum.
Development Economics will be the definitive textbook in this subject
for years to come. It will prove useful to researchers by showing
intriguing connections among a wide variety of subjects that are
rarely discussed together in the same book. And it will be an
important resource for policy-makers, who increasingly find themselves
dealing with complex issues of growth, inequality, poverty, and social
welfare.
Les mer
Produktdetaljer
ISBN
9781400835898
Publisert
2013
Utgiver
Vendor
Princeton University Press
Språk
Product language
Engelsk
Format
Product format
Digital bok
Forfatter