In this chapter we explore the popular but controversial idea that developing countries
benefit from abandoning policy neutrality vis-a-vis trade, FDI and resource allocation across …

This is an attempt to derive broad, strategic lessons from the diverse experience with
economic growth in last fifty years. The paper revolves around two key arguments. One is …

I document a significant deindustrialization trend in recent decades that goes considerably
beyond the advanced, post-industrial economies. The hump-shaped relationship between …

For most of the nineteenth and twentieth centuries,“industrialized” and “rich” were
synonymous. Hence it is no surprise that development economists have long theorized …

In One Economics, Many Recipes, leading economist Dani Rodrik argues that neither
globalizers nor antiglobalizers have got it right. While economic globalization can be a boon …

This paper explores how multinationals affect underdeveloped regions through the
generation of linkages. It is shown that the linkage effect of multinationals on the host country …

Growth policy Getting interventions right: how South Korea and Taiwan grew rich Most
explanations of Korea's and Taiwan's economic growth since the early 1960s place heavy …

This survey reviews models of self-reinforcing mechanisms that cause poverty to persist.
Some of them examine market failure in environments where the neoclassical assumptions …

What are the underlying rationales for industrial policy? Does empirical evidence support
the use of industrial policy for correcting market failures that plague the process of …

THE PAST 50 YEARS have seen marked changes in our understanding of development. We
know that development is possible, but not inevitable. We have had a wealth of experiments …