The global financial and economic crisis starting in 2007 has provoked the exploration of alternatives to neo-liberalism. Although neo-liberalism has been critiqued from various perspectives, these critiques have not coalesced into a concrete alternative in development economics literature. The main objective of this book is to name and formulate this alternative, identify what is new about this viewpoint, and project it on to the academic landscape.
This book includes contributions from many prominent development economists who are unified by a form of "developmental pragmatism". Their concern is with the problems of development that preoccupied the pioneers of economic development in the mid-twentieth century, known as the developmentalists. Like the developmentalists, the contributors to Towards New Developmentalism are policy-oriented and supportive of institutional development and engagement with economic globalization. This collection has an over-arching concern with promoting social justice, and holds the general view of the market as the means to affecting an alternative program of development rather than as a master whose dictates are to be obeyed without question.
This important collection sets the agenda for new developmentalism, drawing on issues such as industrial policy, technology, competition, growth and poverty. In broad terms, the economic development debate is cast in terms of whether the market is the master, an ideological neo-liberal perspective, or the means to affect change as suggested by the pragmatic perspective that is being termed neo-developmentalism. This book will be valuable reading to postgraduates and researchers specialising in the area of development studies including within economics, international relations, political science and sociology.
Part 1: Introduction 1. Exploring and naming an economic development alternative Shahrukh Rafi KhanPart 2: Conceptual issues and a new developmentalist agenda 2. The market as means rather than master: The crisis of development and the future role of the state Robert Wade 3. Hamlet without the Prince of Denmark: How development has disappeared from today’s ‘development’ discourse Ha-Joon Chang 4. The economics of failed, failing, and fragile states: productive structure as the missing link Erik S. Reinert, Yves Ekoué Amaïzo, and Rainer Kattel Part 3: Neo-liberal constraints on the policy agenda 5. The pernicious legacy of the rent-seeking paradigm Helen Shapiro 6. Cementing neo-liberalism in the developing world: Ideational and institutional constraints on policy space Ilene Grabel 7. Domestic resource mobilization for a new-developmentalist strategy in the age of globalization: The fiscal space dilemma in Latin America Luis Abugattas and Eva Paus 8. Investment treaties as a constraining framework Gus Van Harten Part 4: Case studies in pro-active government 9. Government reform and industrial development in China and Mexico Kevin P. Gallagher and M. Shafaeddin 10. Growth and development in Africa: Challenges and opportunities Leonce Ndikumana Part 5: Conclusion: moving to alternatives 11. Climate-resilient industrial development paths: design principles and alternative models Lyuba Zarsky 12. Towards new developmentalism: context, program and constraints Shahrukh Rafi Khan