Tony Thirlwall's bestselling 'Economics of Development' (formerly 'Growth and Development') provides a clear, comprehensive and analytically rigorous introduction to development for students of economics. For the Ninth Edition, the contents have been revised comprehensively and reorganized to reflect the evolving field. Highlights of the revision include substantial new material covering: a- institutions and development - a new chapter a- failed states a- the Stern Review and the impact of climate change on the poor a- financial development and economic development a- the macroeconomic impact of aid, and aid's critics a- growth accelerations, growth diagnostics and binding constraints on growth a- the theory and practice of trade liberalization a- recent research into global and international income distribution a- the technological divide a- how markets function in the rural agricultural sector a- brief biographical sketches of some famous growth and development economists.
Part I DEVELOPMENT AND UNDERDEVELOPMENT 1 The study of economic development 2 The development gap and the measurement of poverty 3 The characteristics of underdevelopment and structural change 4 The role of institutions in economic development 5 Theories of economic growth: why growth rates differ between countries Part II FACTORS IN THE DEVELOPMENT PROCESS 6 The role of agriculture and surplus labour for industrialization 7 Capital accumulation, technical progress and techniques of production Part III THE PERPETUATION OF UNDERDEVELOPMENT 8 Dualism, centre-periphery models and the process of cumulative causation 9 Population and development Part IV THE ROLE OF THE STATE, THE ALLOCATION OF RESOURCES, AND SUSTAINABLE DEVELOPMENT 10 Resource allocation in developing countries, and sustainable development 11 Project appraisal, social cost-benefit analysis and shadow wages 12 Development and the environment Part V FINANCING ECONOMIC DEVELOPMENT 13 Financing development from domestic resources 14 Foreign assistance, aid, debt and development Part VI INTERNATIONAL TRADE, THE BALANCE OF PAYMENTS AND DEVELOPMENT 15 Trade theory, trade policy and economic development 16 The balance of payments, international monetary assistance and development