This paper sketches a picture, with broad strokes on a wide canvas, of thinking about, and outcomes in, development during the second half of the 20th Century, to stress the importance of learning and “unlearning” from experience. In doing so, it questions the caricature distinctions between...

This paper analyses the rapid expansion in outflows of foreign direct investment from India and the spurt in foreign acquisitions by Indian firms, during the past decade, situated in the wider context of international investment from developing countries. Much of the investment was in...

The global economic crisis has led to a sharp slowdown in growth and an even greater slowdown in employment creation. The resulting deterioration in the quality of employment has exacerbated the longer-term trend of rising inequality. Jobless growth has dampened output growth through a worsening...

Catch Up analyzes the evolution of developing countries in the world economy from a long-term historical perspective, from the onset of the second millennium but with a focus on the second half of the twentieth century and the first decade of the twenty-first century. It is perhaps among the...

Until the Industrial Revolution in Britain, Europe and Asia were largely similar in levels of economic development. Beginning around 1820, however, Western Europe and the United States shot ahead, while Asia experienced a rapid decline. Since 1980, poorer countries have been catching up again...

This book questions what enduring lessons have been learnt about the interdependence of international trade and economic development during the last 50 years. Since the end of the Cold War and the advent of the WTO, developing countries have been forced to face the choice of whether, and to what...

Lance Taylor is widely considered to be one of the pre-eminent development economists in the world and is known for his work on development planning, macroeconomics of development, stabilization policy, and the global economy. He has also been the major force behind structuralist economics,...

This essay analyzes the differences between the economies of industrialized countriesand developing countries, which have important implications for macroeconomics in terms of theory and policy. It considers the differences in macroeconomic objectives and examines why the reach of macroeconomic...