The article attempts to locate the lack of macroeconomic stability and hence the problem of low economic growth in developing economies in the absence of appropriate institutions. Paradoxically, government can fail in both authoritarian and democratic systems and accentuate market failures which...

1 Introduction -- 2 Africa's Least Developed Countries: Missed opportunities -- 3 Asia's Least Developed Countries: Policy Lessons -- 4 Central Asia: Three decades after the economic transition -- 5 The Pacific: Development challenges of small island states -- 6 Path dependence and policy as...

This book offers a critical appraisal of the conventional measures and analysis of poverty as well as of poverty reduction policies. Despite greater efforts in reducing poverty since the early 1980s, poverty remains stubbornly high in many parts of the world. This publication argues that the...