The costs of import substitution (IS) as a strategy for industrialization, which was deemed synonymous with economic development by many development economists of the fifties and sixties, were shown to be substantial in the influential and nuanced studies of the seventies and eighties under the...

The paper celebrates John Fei's life and contributions to economics by viewing them in the context of recent theoretical and empirical literature on the economics and politics of growth. It summarizes the lessons from the literature and development experience since the end of the second world...