Despite its heavy human, financial, and economic cost, the recent global recession provides a unique opportunity to reflect on the knowledge from several decades of growth research, draw policy lessons from the experience of successful countries, and explore new approaches going forward. In an...

Active economic policies by developing countries? governments to promote growth and industrialization have generally been viewed with suspicion by economists, and for good reasons: past experiences show that such policies have too often failed to achieve their stated objectives. But the...

How poor countries can ignite economic growth without waiting for global action or the creation of ideal local conditionsContrary to conventional wisdom, countries that ignite a process of rapid economic growth almost always do so while lacking what experts say are the essential preconditions...

Chapter 1 The Age of Drastic Changes -- Chapter 2 Transformation and Upgrading of Economic Structure is the Key to Development -- Chapter 3 Tracing the Trajectory of the Transformation and Upgrading of the World Economic Structure -- Chapter 4 Searching for Typical Examples of Economic...

As strategies for achieving sustainable growth in developing countries are re-examined in light of the financial crisis, it is critical to take into account structural change and its corollary, industrial upgrading. Economic literature has devoted a great deal of attention to the analysis of...

This paper explores endogenous institution formation under a catching-up strategy in developing countries. Since the catching-up strategy is normally against the comparative advantages of the developing countries, it can not be implemented through laissez-faire market mechanisms, and a...

How can developing countries grow their economies? Most answers to this question center on what the rich world should or shouldn't do for the poor world. In The Quest for Prosperity, Justin Yifu Lin-the first non-Westerner to be chief economist of the World Bank-focuses on what developing...