A Reaction Too Far: Economic Theory and the Role of the State in Developing CountriesRecent years have seen important changes in economic theory and economic policy and the increasing application of economic theory to developing countries, all set against the context of the policy of conditionality sought by the IMF and the World Bank. In this book the author provides a non-technical critique of contemporary economic theorizing about the role of the state and its application to developing countries. |
Contents
Rethinking the role of the state | 21 |
clarifications and complications | 27 |
The case for caution and modesty | 35 |
Copyright | |
2 other sections not shown
Common terms and phrases
adjustment applied argues argument assumptions behaviour Bhagwati caution and modesty Chenery comparative advantage conditionality consensus contestable markets costs developing countries development economics dirigisme discussion drawing attention DUPS earlier Eatwell economic agents economic policy economic theory economists effects equilibrium example Fischer framework free trade Friedman government actions government policies growth theory imperfections implications important incentives income industrial inflation influence interest international trade Keynesian Kierzkowski Killick labour market clears ldcs limitations literature macroeconomic mainstream economics mainstream theory market failure markets clear maximise micro theory monetarist monetary monopoly power natural rate normative normative economics Overseas Development Institute Oxford Pareto efficiency Pareto optimality particularly perfect competition policies in developing policy actions policy interventions policy recommendations policy-makers political economy private sector problems production public choice theory rational expectations recent relevance result role scale economies suggested summarised theoretical trade policy trade theory trends unemployment value biases welfare Willig