Leading Issues in Economic Development

By Gerald M. Meier; James E. Rauch | Go to book overview

CHAPTER II
Historical Perspective

Overview: The Division of the World

SELECTION II.1. THE SPREAD OF ECONOMIC GROWTH TO THE THIRD
WORLD

Comment II.1. State-owned Enterprises and Privatization

SELECTION II.2. THE DIVISION OF THE WORLD AND THE FACTORAL
TERMS OF TRADE

Note II.1. Why Not Export First?

Note II.2. The Lewis Model of the World Economy

SELECTION II.3. AGRICULTURAL PRODUCTIVITY, COMPARATIVE
ADVANTAGE, AND ECONOMIC GROWTH

Comment II.2. Income Elasticity of Demand for Food in the Matsuyama
Model

SELECTION II.4. INCOME DISTRIBUTION, MARKET SIZE, AND
INDUSTRIALIZATION

Comment II.3. Minimum Market Size in the Murphy–Shleifer–Vishny Model

SELECTION II.5. FACTOR ENDOWMENTS, INEQUALITY, AND PATHS OF
DEVELOPMENT AMONG NEW WORLD ECONOMIES

SELECTION II.6. DIVERGENCE, BIG TIME

Comment II.4. Will the Poor Countries Catch Up?


Overview: The Division of the World

In order to analyze the problems of contemporary poor countries it is essential to understand how they became “less developed” than today's rich countries and how they have attempted to catch up. The main focus of this chapter is on the division of the world into agricultural and industrialized countries, with the latter located until recently entirely outside the tropics.

The first selection, by Lloyd Reynolds, examines economic growth of large countries (1980 population at least 10 million) in Asia, Latin America, North Africa and the Middle East, and sub-Saharan Africa during the period 1850–1980. Reynolds begins by noting that prior to this period many countries in these regions had for a century or more been experiencing what he calls “extensive growth,” meaning growth in output that is absorbed by growth in population, leaving per capita income unchanged. He argues that developments during the period of extensive growth provided “important conditioning factors” such as nation-building for later growth in per capita income. When this “intensive growth” began in many countries during the “world economic boom” from 1850–1914, it was invariably led by exports of primary products to Europe and North America. This was by no means inevitable, since many countries in Western (but not Central) Europe responded to the industrial revolution that began in Britain

-81-

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Leading Issues in Economic Development
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Exhibits xiii
  • Preface xv
  • Using This Book xvii
  • Chapter I - Introduction 1
  • Chapter II - Historical Perspective 81
  • Chapter III - International Trade and Technology Transfer 133
  • Chapter IV - Human Resources 183
  • Chapter V - Investment and Finance 293
  • Chapter VI - Urbanization and the Informal Sector 331
  • Chapter VII - Agriculture 381
  • Chapter VIII - Income Distribution 433
  • Chapter IX - Political Economy 489
  • Chapter X - Development and the Environment 581
  • Appendix - How to Read a Regression Table 633
  • Index of Selection Authors 639
  • Index 641
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