Development Policy and Economic Theory

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This book of essays, by some of the leading economists in the field, captures the changing face of development economics and draws out its implications for policy-making. It addresses afresh several key issues, such as the significance of market dualism, the relation between the terms of trade and inflation, the role of multinationals in development, and the management of administered prices and quantity controls; in doing so, it uses state-of-the-art tools of economic theory and econometrics. The book begins ...
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Overview

This book of essays, by some of the leading economists in the field, captures the changing face of development economics and draws out its implications for policy-making. It addresses afresh several key issues, such as the significance of market dualism, the relation between the terms of trade and inflation, the role of multinationals in development, and the management of administered prices and quantity controls; in doing so, it uses state-of-the-art tools of economic theory and econometrics. The book begins with a survey of Indian economic thought and its impact on Indian development planning, and goes on to discuss some 'new generation' views of the problems and prospects of development in the Third World, especially as these pertain to India. The fourteen essays which comprise this volume fall into five parts. The first sets the agenda with a piece on the historical background. It draws attention to some of the larger concerns of development, including the interface between economic needs and the fundamental rights of human beings. The second presents the theoretical basis of some of the central concerns of development economics. Part III is an empirical econometric study of some aspects of the Indian economy. This is followed by two essays on the international sector; these address matters of contemporary interest such as direct foreign investment and foreign borrowing. The final part is on macroeconomic policy and discusses, in particular, fiscal policy, inflation, and growth.

Seminar papers; in the Indian context.

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Product Details

  • ISBN-13: 9780195627640
  • Publisher: Oxford University Press, USA
  • Publication date: 5/13/1993
  • Pages: 336
  • Product dimensions: 5.75 (w) x 8.75 (h) x 0.99 (d)

Table of Contents

Introduction
Pt. I Perspectives
Development Economics and the Indian Experience 1
Food and Freedom 14
Pt. II Theoretical Issues
Why Might Poverty be Impervious to Industrial Progress? 40
Some Reflections on the Use of the Concept of Power in Economics 64
On the Economic Theory of Quantity Controls 78
Theories of Interlinkage in Agrarian Markets
A Critical Appraisal 96
Pt. III Experience
Measurement of Income Mobility: An Application to India 111
Optimal Commodity Taxes and Consumer Behaviour in India: Theory and Empirical Evidence 145
The Politics and Economics of Drought in India 179
Pt. IV Open Economy Issues
Multinationals, Technology and Government Policy 199
Modernization, Employment and Foreign Borrowing 239
Pt. V Macroeconomic Policy
Terms of Trade and the Rate of Inflation 256
Administered Prices and Deficit Financing: A Macro View 275
Growth, Inflation and Excess Capacity in a Dual Economy 293
Index 317
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