Economic Development

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This best-selling text offers a unique policy-oriented approach that uses models and concepts to illustrate real-world development problems. Retaining its hallmark accessibility throughout, the Eighth Edition uses the most current data, offering full coverage of recent advances in the field, and featuring a balanced presentation of opposing viewpoints on todays major policy debates. The authors have streamlined this edition and have included coverage of new and critical topics. The text includes extensive country-specific examples, updated Country Case Studies, and Comparative Case Studies that allow students to apply concepts to specific developing nations. Features Coverage of recent debates on globalization and its meaning for developing countries. Updated material on urban policy and the emerging role of cities in development. Coverage of current micro policies, including microcredit; incentives for child schooling; and integrated health, education, and income generation programs. Inclusion of new thinking on finance and development, such as recent debates on the role of stock markets. Section on the political economy of development policymaking and the state, including issues in governance and civil service reform. Coverage of Sen's 'capabilities` approach to poverty and the meaning of development. Section on development participation and strategies for making it work better in the field. Development insights from the economics of imperfect information and the new institutional economics. Coverage of transition countries that are now classified as developing and their unique development problems. Thoroughly updated country and comparative case studies.Table Of Contents PRINCIPLES AND CONCEPTS. Economics, Institutions, and Development: A Global Perspective. Diverse Structures and Common Characteristics of Developing Nations. Historic Growth and Contemporary Development: Lessons and Controversies. Classic Theories of Economic Development. Contemporary Models of Development and Underdevelopment. PROBLEMS AND POLICIES: DOMESTIC. Poverty, Inequality, and Development. Population Growth and Economic Development: Causes, Consequences, Controversies. Urbanization and Rural-Urban Migration: Theory and Policy. Human Capital: Health and Education in Economic Development. Agricultural Transformation and Rural Development. The Environment and Development. PROBLEMS AND POLICIES: INTERNATIONAL. Trade Theory and Development Experience. The Trade Policy Debate: Export Promotion, Import Substitution, and Economic Integration. Balance of Payments, Developing Country Debt, and Issues in Macroeconomic Stabilization. Foreign Finance, Investment, and Aid: Controversies and Opportunities. POSSIBILITIES AND PROSPECTS. Political Economy and the Role of Government in Development. Financial Reform and Fiscal Policy. Critical Issues for the Twenty-First Century: Globalization, the Environment, Africa, and International Economic Reform.