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Economic growth and development a comparative introduction

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Описание

Contents

List of Illustrative Material x

List of Abbreviations xii

Acknowledgements xiv

Introduction 1

The central fact in our economic world: global inequality 1

The five key concerns of this book 4

An example of a debate about growth: the British Industrial

Revolution 13

Part I The Proximate Sources of Growth in the Modern

World Economy since 1950 21

1 Thinking about Growth 23

What is growth? 23

Ways of thinking about growth 26

Economic growth and human development 40

Key points 42

2 Growth in the Modern World Economy since 1950 43

Growth in the world economy since 1950 44

Introduction to the proximate causes of economic growth 49

Key points / 60

3 Domestic and Foreign Direct Investment 61

Investment and economic growth 62

Investment: the basic concepts 64

Robust empirical results and an elusive quest 64

Policy and investment 68

Foreign direct investment 75

Key points 78

4 Population and Economic Growth/Development 79

Population and economic growth 80

Population: the basic concepts 81

The demographic transition 85

Demography and government policy 91

The phenomenon of missing women 92

Key points 97

5 Technology and Economie Growth 98

Technology and economie growth 98

Technology: the basic concepts 98

Technological change in economic theory 103

Case studies of technological change 105

A paradox of appropriate technological change: preventative

interventions and a vaccine for malaria 109

MNCs and technology transfer 113

Key points 116

6 Education and Health 117

Education and health in developing countries 118

Education, health and economic growth 120

From growth to education and health 121

From education to economic growth 122

Education policy 125

Health and economic growth 131

Key points 144

Part II Patterns of Long-term Economic Growth and the

Deeper Determinants of Economic Growth 145

7 The Great Divergence since 1750 147

Europe in 1750: stagnation or growth? 147

Comparative incomes in 1500 156

The origins of the Western lead 159

Key points 165

8 Economic Growth and Economic Structure since 1750 166

Conceptualizing structural change: the Lewis model and inequality 166

The role of agriculture in structural change 168

The role of industry in structural change 172

The role of services in structural change 175

A policy case study: structuralism 176

Key points - 181

9 Colonialism * 183

Colonialism and economic growth 183

The diversity of colonialism 183

From Marx to neo-colonialism: a changing debate 194

Colonialism and development: the debate 198

Key points 204

10 Institutions 205

Institutions and economic growth 205

What are institutions? 205

Democracy and dictatorship as institutions 207

Property rights as institutions 212

The WTO and the intellectual property rights debate 220

Policy towards institutions 222

Key points 229

11 Geography and Economic Resources 231

Geography and economic growth 231

Geography: definitions 232

The statistics of geography: income and growth 233

Geography and economic growth: investigating the link 235

Geography: impact and policy agenda 246

Key points 248

12 Culture 250

Culture and economic growth 250

What is culture? 252

Culture changes 253

Weber and the spirit of capitalism 255

Ethnicity 259

Networks 264

Key points 267

13 International Trade, Openness and Integration 268

Openness and economic growth 268

The basic trade model 269

Patterns of openness 270

Trade liberalization: the debate 275

Openness and the bigger picture: power, ideas and consumption 283 Key points 289

Conclusion : Eight Principles for Policy-Makers 290

Prioritize reform 290

Be careful with lessons and history 293

Distinguish policy goals and policy means 294

Reform must be compatible with Political Economy 295

Don’t forget government capacity 297

The deep determinants can be modified 298

Think about demand as well as supply 299

Don’t get too hung up on democracy 300

List of Illustrative Material

Tables

1.1 Total GDP in 2012 (current US$) 24

1.2 GDP per capita and GDP adjusted for PPP 25

1.3 Life expectancy, 1000-1999 (years at birth for both sexes

combined) 29

1.4 Malnutrition, low height for age 35

1.5 Malnutrition, low weight for age 35

2.1 GDP in ten large economies, 1950 and 2010 44

2.2 Growth rates of real GDP per capita (average annual

percentage changes) 45

2.3 Hours worked in now-developed countries 1870-1998 56

2.4 Labour productivity in now-developed countries, 1870-1998 57

2.5 Growth-accounting breakdown of sources of growth (average

annual percentage changes) 57

2.6 Sources of growth in developing countries, 1960-94 (average

annual percentage changes) 58

2.7 Sources of growth: China, India, and East Asia, 1978-2004

(percentage average annual GDP increase) 58

6.1 Adult and youth literacy rates 118

6.2 Health indicators in developed and developing countries, 2011 119

f7.1 Per capita GDP levels, 1500 and 1820 155

8.1 Agriculture’s share of GDP in selected Asian, African and

Latin American countries, 1960,1980, 2000 and 2010 169

8.2 Industry’s share of GDP in selected Asian, African and Latin

American countries, 1960, 1980, 2000 and 2010 173

8.3 Services’ share of GDP in selected Asian, African and Latin

American countries, 1960, 1980, 2000 and 2010 175

13.1 Regional percentage shares of world exports, 1870-1998 1 271

Figures

i.i Deeper and proximate determinants of growth 7

3.1 Investment and economic growth 62

3.2 Diminishing returns to investment 67

4.1 Population growth as a proximate determinant of economic

growth 81

5.1 Technology and economic growth 99

5.2 Technological change 100

5.3 Technological change: the green revolution 100

5.4 Technological change: industrialization 101

6.1 Education, health and economic growth 120

9.1 Colonialism as a deeper determinant of economic growth 185

10.1 Institutions as a deeper determinant of economic growth 206

11.1 Geography as a deeper determinant of economic growth 232

12.1 Culture as a deeper determinant of economic growth 251

13.1 Openness as a deeper determinant of economic growth 269

Boxes

l.i Historical calculations of HDI 30

1.2 The Millennium Development Goals 34

2.1 The revival of Zambia? 48

3.1 Karl Marx and the crucial importance of investment 63

3.2 John Maynard Keynes, growth and investment 72

4.1 Malthus and population catastrophe 80

4.2 Potatoes: the first wonder food 88

5.1 Spectacular spillovers: textiles in Bangladesh 115

6.1 Universal primary education in Tanzania 126

6.2 Community health care in Ceara, Brazil 139

6.3 Barefoot doctors in China 140

6.4 Community health care insurance in Senegal 143

7.1 How do we imagine a giraffe? 163

8.1 Agriculture and Japanese economic growth after 1858 171

8.2 From socialist industrialization to socialist deindustrialization 174

8.3 ‘The China effect’ 178

9.1 The complex nature of colonialism 184

10.1 The cost of democracy: US aid in Iraq 209

10.2 Collective property rights 215

10.3 The evolution of legal rights in Britain 218

11.1 The reversal of fortune hypothesis 235

11.2 Troublesome trains in Uganda 237

12.1 The ‘vampire state’ in Ghana 261

12.2 The Congress Party in India 263

12.3 The National Revolutionary Party (PRI) in Mexico 263