The Process of Economic Development is a textbook with a story to tell. It discusses development from the colonial era to the present in Latin America, Asia and Africa. Encompassing a blend of classical development ideas and current theory, the book helps students gain the type of balanced picture disallowed them by other textbooks.
A close examination of recent events is integral to the book, with discussions ranging from the environment to the debt crisis, and from export-led industrialization to import substitution, endogenous growth theory and technological capability. Throughout, the authors focus on income distribution, poverty, and social issues and the book has an readable style and format.
Part 1: An Overview of Economic Development 1. The Development Imperative 2.Measuring Economic Growth and Development 3. Development in Historical Perspective Part 2: Theories of Development and Underdevelopment 4. Classical and Neoclassical Theories 5. Developmentalist Theories of Economic Development 6. Heterodox Theories of Economic Development Part 3: Structural Transformation 7. The State as a Potential Agent of Transformation 8. Endogenous Growth Theories and New Strategies for Development 9. The Initial Structural Transformation: the Industrialization Process 10. Strategy Switching and Industrial Transformation 11. Agriculture and Development 12. Population, Education and Human Capital 13. Technology and Development Part 4: Problems and Issues 14. Transnational Corporations and Economic Development 15. Macroeconomic Equilibrium: the Internal Balance 16. Macroeconomic Equilibrium: the External Balance 17. The Debt Problem and Development 18. International Institutional Linkages: the IMF, World Bank and Foreign Aid