The paper asks a basic question: Is there any room for more growth on the globalising world that takes into account the budget constraints of ecosystems and the planet's scarce resources? Economists tend to be very complacent about sustainability issues on the planet because they have been a...

Water resources development plays a central role in reducing poverty and achieving sustainable economic growth in Laos. The development of irrigation is vital for the rural population dependent on agricultural production, but irrigation projects have suffered from low levels of maintenance, as...

Economists have recently emphasized the role which institutional change plays in the process of economic growth and development. Focusing on the behavior of the state, effective constraints on the ruling elite are seen as a necessary precursor to successful economic growth. However, it is argued...

Land and agrarian reforms were main promises of the ANC during its ascension to power: the objective was to redistribute 30% of the land within 5 years after the end of apartheid and, through this redistribution, restructure the agricultural sector. Nevertheless, presently, more than 10 years...

Why did inflation fall so dramatically after the establishment of a currency board in Bulgaria in 1997? The establishment of the currency board was the response to a very severe financial crisis where inflation reached hyperinflationary levels. After the currency board was introduced, inflation...

This paper builds a system‐dynamics model of the Mexican economy and tests several propositions regarding policy and income inequality. It concludes, among other things, that one of the most significant developments over the past twenty years has been the declining wage paid to those in the...

Development runs on a continuum, having traditional, transitional and desired (relative) development stages. Rather than moving on, the continent of Africa has remained perpetually transitional due to its inability to strategically position itself globally, and its attendant international...

This paper reviews the theoretical case for industrial policy (coordination) provided by theories of multiple equilibria. It is argued that for most less developed countries the case for industrial policy (government coordination) is best made with respect to agriculture. Those states that have...

Past decades have witnessed significant contributions to theories of the firm, innovation and economic growth from two closely related paradigms, namely, the Capabilities School and National Innovation Systems Approach. Unlike the neoclassical models of the firm and growth, these two paradigms...

The prevalent approach to providing the Internet in rural areas of developing countries takes the form of ‘telecentres’, where, it is assumed that ‘access to’ this technology will confer benefits on the target groups. The purpose of this paper is to show that this approach diverts...