Keith Griffin

Studies in Development Strategy and Systemic Transformation examines many of the leading issues in economic development. In Part I, Professor Griffin analyses strategic visions: the role of culture in long-term economic growth; globalization and its implications for the territorial state and global governance; the human development strategy; and the effects of the distribution of productive assets on the pace of development. Part II is concerned with systemic transformation and macroeconomic reform. Alternative reform strategies are analysed for countries trying to effect a transition from centrally-planned to market-oriented economies. Shock therapy is severely criticized. An alternative approach to macroeconomic reform also is presented for sub-Saharan Africa, in which emphasis is placed on an investment-led strategy of structural development. A separate chapter is devoted to how an investment-led strategy could be financed with domestic resources alone. Part III contains three case studies of low-income transition economies, two of which are examples of success (Vietnam and China) and one an example of failure (Kazakhstan).

The question of alternative strategies for economic development is the subject of great controversy and intense debate amongst practitioners and academics concerned with economic and social progress in the Third World. The core of this book is an analysis of the six most widely adopted strategies of development namely monetarism, the open economy, industrialisation, the green revolution or agriculture-led development, redistributive strategies of development and socialist strategies.

The question of alternative strategies for economic development is the subject of great controversy and intense debate amongst practitioners and academics concerned with economic and social progress in the Third World. The core of this book is an analysis of the six most widely adopted strategies of development namely monetarism, the open economy, industrialisation, the green revolution or agriculture-led development, redistributive strategies of development and socialist strategies.

'Readers will find in these pages a very lucid, creative, and highly readable version of many of the ideas that have taken shape through the medium of the Human Development Reports during the last four years. Busy policy makers all over the world will find this an indispensable primer.' - Mahbub ul Haq, from the preface. This book introduces the basic concepts of human development and presents policy guidelines for implementing a human development strategy in developing countries. Human development is seen both as an end in itself and as a means to increase the capabilities of people. The role of the state, the market and of people's participation in such a strategy are described. Specific chapters discuss the structure of incentives, allocation of public sector resources, structural reforms, the relationship of human development to environmental issues and finance and administration.