Since its birth in 1944, the World Bank has had a strong focus on development projects. Yet, it did not have a project evaluation unit until the early 1970s. An early attempt to conceptualize project appraisal had been made in the 1960s by Albert Hirschman, whose undertaking raised high...

The need to construct an effective strategy for industrial development in low-income countries has been largely ignored by development economists because industrial policies have failed in many developing countries. This does not imply, however, that industrial development cannot be promoted....

Prevailing economic ideas -- and fashions -- about development have influenced the International Development Association (IDA) since its creation in 1960. The creation of the organization itself is the result of two contemporaneous facts: an urgent need to channel development finance to...

The global financial crisis has not only dealt a major blow to the global economy, but also shaken confidence in economic management in the developed world and the economic models that guide it. The crisis has revealed major market failures, especially in the housing bubble and its transmission...

This study begins with an overview of the poverty situation in the Philippines. It then takes a brief look at the poor in the rural areas, followed with a discussion of the poor in the informal sector. It then, brings these two sectors together, with an examination of the poor and the...

It is a well known fact that economic development and distance to the equator are positively correlated variables in the world today. It is perhaps less well known that as recently as 1500 C.E. it was the other way around. The present paper provides a theory of why the "latitude gradient"...

This paper is a thought piece that accepts the thinking of Nobel laureate Amartya Sen on the subject of development, and asks what that new conception of development means for trade and sustainable development. That is, if we conceive of development as Sen does, how can this conception help us...

According to standard economic theory, capital should flow from rich to poor countries. However, a reverse pattern has prevailed in the world economy. This is the so-called Lucas paradox. In addition, it has been shown that, counterintuitively, there is a negative correlation between capital...

The present paper is a review of methodological advancements in human development literature starting from 1990 till date. While highlighting the contribution of UNDP to the concept of human development and construction of HDI it mentions that the introduced concept and method of measurement is...