Modern development strategy relies heavily on uncompromising orthodox economic theory and a dogmatic faith in market efficiency. In contrast the essays in this volume aim to emphasize the importance of historic experiences to evolve a more realistic and dynamic view of how such development could be formalized. The volume goes on to evaluate financial reform in emerging economies and the importance of financial regulation in market-based economies.
Introduction - Nicholas Perdikis and Kobil Ruziev Part I: Some Pertinent Issues in Development Economics 1 Theories of Economic Development in the Scottish Enlightenment - Sheila Dow and Alexander Dow 2 Adam Smith on Productive and Unproductive Labour: An Interpretation - Roy Grieve 3 Keynes and Commodity Control - Victoria Chick 4 Cost-determined and Demand-determined Prices: Lessons for the Globalised World from Development Economics - Dipak Ghosh and Kobil Ruziev 5 The Responsibility of Economics in Ethical Issues on Development: A Reappraisal for Discussion - David Vazquez-Guzman 6 Kalecki and the Saving Constraint in Developing Countries - Jan Toporowski Part II: Financial Sector Reforms in Transition and Developing Countries 7 Banking Sector Reforms in Transition Economies: Intentions and Unintended Consequences - Kobil Ruziev, Dipak Ghosh and Sheila Dow 8 Transforming Socialism: The Changing Relationship between Production and Finance - Dana Gabor 9 Financial Reforms in Kazakhstan and Uzbekistan: An Evaluation of Different Approached in Light of the Global Financial Crisis - Alexandr Akimov 10 The Road to Liberalisation: Regulation in the Chinese and Indian Stock Markets - Chaoyan Wang and Malay Dey 11 Microcredit, micro-enterprises, and Self-employment of Women: Experience from the Grameen Bank in Bangladesh - M Jahangir Alam Chowdhury 12 The State of Economic Research on the Financial Sector Fragility in Africa - Radha Upadhyaya Conclusion
