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"Economic Development, Twelfth Edition, presents the latest thinking in economic development with the clear and comprehensive approach that has been so well received in both the developed and developing worlds. The pace and scope of economic development continues its rapid, uneven, and sometimes unexpected evolution. This text explains the unprecedented progress that has been made in many parts of the developing world but fully confronts the enormous problems and challenges that remain to be addressed in the years ahead. The text shows the wide diversity across the developing world and the differing positions in the global economy that are held by developing countries. The principles of development economics are key to understanding how we got to where we are, how great progress has been made in recent years, and why many development problems remain so difficult to solve. The principles of development economics are also key to the design of successful economic development policy and programs as we look ahead. The field of economic development is versatile and has much to contribute regarding these differing scenarios. Thus, the text also underlines common features that are exhibited by a majority of developing nations, using the insights of the study of economic development. The few countries that have essentially completed the transformation to become developed economies, such as South Korea, are also examined as potential models for other developing countries to follow. Both theory and empirical analysis in development economics have made major strides, and the Twelfth Edition brings these ideas and findings to students. Legitimate controversies are actively debated in development economics, and so the text presents contending theories and interpretations of evidence, with three goals. The first goal is to ensure that students understand real conditions and institutions across the developing world. The second is to help students develop analytic skills while broadening their perspectives of the wide scope of the field. The third is to provide students with the resources to draw independent conclusions as they confront development problems, their sometimes ambiguous evidence, and real-life development policy choices-ultimately, to play an informed role in the struggle for economic development and ending extreme poverty."

Economic Development, the leading textbook in this field, provides your students with a complete and balanced introduction to the requisite theory, driving policy issues, and latest research. Todaro and Smith take a policy-oriented approach, presenting economic theory in the context of critical policy debates and country-specific case studies, to show how theory relates to the problems and prospects of developing countries. The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you will receive via email the code and instructions on how to access this product. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed.

Cover -- Half Title -- Title Page -- Copyright Page -- Dedication -- Table of Contents -- List of Illustrations -- List of Tables -- List of Boxes -- Acknowledgments -- Introduction: Africa in Changing Perspective -- Part I Analyzing the African Experience -- 1 Dimensions of Development: Geography, Ecology, History -- 2 Concepts of African Economic Development: Growth, Structural Change, Poverty and Gender -- 3 Development Theories, Political Economy and Governance -- 4 Economic Institutions and Planning for Development -- Part II Human Resources in Africa -- 5 Demography -- 6 Income Distribution and Human Needs -- 7 Human Development: Education and Health -- 8 Labor and Livelihoods: Formal and Informal -- 9 Urbanization, Migration and Regional Development -- Part III Sustaining African Economic Development -- 10 Environment and Climate Change -- 11 Agriculture and Rural Development -- 12 Natural Resources -- 13 The Industrial Sector -- 14 Infrastructure, Communications, Services and Tourism -- 15 Macroeconomic Management, Debt and Structural Adjustment Plans -- Part IV Africa and the International Economy -- 16 Trade and Economic Development -- 17 Multinational Corporations and Foreign Direct Investment in Africa -- 18 Development Assistance: The African Record -- 19 The Changing Role of China in Africa -- 20 International Migration -- Index of Names -- Subject Index

"The purpose of this book is to provide a systematic and policy-focused analysis of Korea's development performance from a historical perspective. The book begins with post-war reconstruction efforts and extends to recent developments in the Korean economy. Through a comprehensive analysis of Korea's development performance over the last six decades, the book examines in detail how development strategies and policies evolved over time, what were their consequences and underlying factors, and what lessons can be drawn from the Korean experience. A wide range of issues are discussed, including the role of government, capital accumulation, growth and structural change, industrial development and concentration, economic liberalization, human resource and technology development, social development and income distribution. The important features of the Korean development model are highlighted to draw lessons from the Korean experience."--

AbstractI provide a summary, reflection and assessment of the current state of economic development in both the policy and academic worlds. In terms of development policy, currently, the primary focus is on policy interventions, namely, foreign aid, aimed at fixing the "deficiencies" of developing countries. Academic research also has a similar focus, except with an emphasis in rigorous evaluation of interventions to estimate causal effects. A standard set of versatile quantitative tools is used, e.g., experimental and quasi‐experimental methods, which can be easily applied in a range of settings to estimate the causal effects of policies, which are typically presumed to be similar across contexts. In this article, I take a step back and ask whether the current practices are the best that we can do. Are foreign aid and policy interventions the best options we have for poverty alleviation? What else can be done? Is our current research strategy, characterized by rigorous but a lack of context‐specific analysis, the best method of analysis? Is there a role for other research methods, for a deeper understanding of the local context and for more collaboration with local scholars?

AbstractThis chapter surveys the implications of some studies in network economics research for economic development. We focus on information flow and risk-sharing—two topics where work in theory, empirics, and policy analysis have been especially intensive and complementary. In analysing information, we distinguish models of information diffusion and aggregation, highlight how different models imply very different guidance regarding the right way to seed information. In discussing risk-sharing, we look at the key frictions that impede efficient informal insurance, and some potential unintended consequences when policymakers intervene to help. Throughout, we stress practical insights that can be used with limited measurement of the details of networks.

In a sweeping survey of African economies, leading scholars offer the latest research into the biggest current influences on African growth and development, taking account of relevant institutional contexts as well as significant or unique problems that have slowed Africa's progress.

This dissertation studies the impact that various programs, from small-scale behavioral interventions to large-scale multi-national projects, have on those living in the developing world.The first chapter of this dissertation, "Business Training and Behavioral Biases: A Field Experiment with Micro-Entrepreneurs in Ethiopia", is joint work with Biruk Tekle, a researcher at the Ethiopian Development Research Institute. We conducted a field experiment with 590 small businesses in Addis Ababa where we designed two, cross-cut interventions, that were motivated by simple heuristics and physical convenience. We provided rm owners: (1) a highly simplified informational poster to be conveniently placed in their business, and (2) an additional wallet to facilitate the separation of business and personal finances. Business owners consulted the poster on a regular basis and reported higher investment, revenue, and prot. The wallet was actively used to keep their expenses separated, but had mixed evidence on investment and prot. We conclude that the content from a business training can be cost-effectively delivered to micro-enterprises and that the lack of access to simplified and convenient management information can partially explain why protable investments commonly go unrealized. This project was generously funded by the Center for Effective Global Action, East African Social Science Translation.My second dissertation chapter, "Myopic Loss Aversion and Multi-Dimensional Framing: A Lab-in-the-Field Experiment with Micro-Entrepreneurs in Ethiopia", is joint work with Sameh Habib (Ph.D. Student, UCSC) and Biruk Tekle (Researcher, EDRI) and looks at the puzzle of low reinvestment through the idea of myopic loss aversion (MLA). Using data from a lab-in-the-field experiment with 199 retail shops in Ethiopia, we first replicate [87] and find that our sample does not display any tendencies of myopic loss aversion when bracketing the traditional risky gamble across time. Motivated by recent theoretical work from [39] along with anecdotal discussions with small shops, we then extend the experimental design to offer the same gambles packaged as a cross-sectional, portfolio of investments. We find that respondents willingly take on more risk when looking across a basket of products, suggesting that tendencies of loss aversion could be mitigated by adjustments to the frame over which investments are made, leading to higher business investment.The third chapter of this dissertation is an impact evaluation of five large-scale agricultural programs run by International Fund for Agricultural Development (IFAD), a branch of the United Nations based in Rome, Italy. This chapter is co-authored with Dr. Alessandra Garbaro (Econometrician, IFAD). When the 2015 Millennium Goals were put in place, IFAD and other large governmental organizations began aiming their funds at alleviating the conditions of children under the age of five. Given the focus of IFAD to finance agricultural projects in the developing world, the theorized first order effect of said programs should be an increase in agricultural production among smallholder farmers. Once these higher yields are realized, it should lead to improved access to not just food, but also food varieties. This should then imply an increase in nutritional intake by all members of the family, specifically the children. The goal of this paper is to assess the impact that a random sample of IFAD projects has had on childhood nutrition by looking at a variety of anthropometric outcomes. Our overall findings are mixed, finding that some projects have led to improved child well-being, others have done the opposite, and the remaining project effects are unable to be detected due to low precision.

Frontmatter --EDITORIAL PREFACE --BIBLIOGRAPHICAL SURVEY --CONTENTS --Introduction --PROBLEMS OF ECONOMIC GROWTH --I. Agriculture And The Political Scientist --II. The Threshold Of Economic Growth --III. Social Pre-Conditions And Effects Of Moving Over The Threshold Of Economic Development --IV. Shares Of Labor And Capital In The Gross Domestic Product Of 40 Countries In The Decade 1953-1962 --V. How Not To Develop A Country: An Essay In Economic Pathology --Agriculture --VI. Lack Of Institutional Flexibility In Agriculture --VII. Agricultural Turning Points In Economic Development --VIII. Three Concepts Of Agricultural Over-Population --IX. Problems Of Socialist Agriculture --Yugoslavia --X. Economics Of Socialism In Jugoslavia: The Third Stage -- The Reform --XI. Some Aspects Of The Policy Of Worker's Income In Yugoslavia

This paper is aimed at contextualizing the approach of Community Based Development as an alternative solution of communities to reduce dependency to the outer forces. It is conducted by examining a heavily urbanized area in Central Jakarta and to compare it with different scales of contexts. Kelurahan Cideng has very unique context since its urban environment has particular population composition of the dichotomic extremes: the poor and the rich as well as those involved in formal and informal employment. The study treats a national government's policy of the integration of Posyandu, BKK and provincial initiative of PAUD as the interplay with the socio-economic context of Cideng.

The main aim of the paper is to show and examine how culture shapes human progress; in particular—how values determine economic development. The author describes culture as an axiological sphere including values, rules, customs, beliefs attitudes and worldviews that are prevalent in a given society. According to the humanistic perspective (called cultural turn), adequate values and other axiological determinants have a very positive impact on economic development of each society. The author analyses Mariano Grondona's twenty cultural factors: religion, trust in the individual, the moral imperative, two concepts of wealth, different views of competition, two notions of Justice, the value of work, the role of Heresy, education, the importance of utility, the lesser virtues, time focus, rationality, authority, worldview, life view, salvation from or in the world, two Utopians, nature of optimism, two visions of democracy. The main thesis of the Grondona's work is that economic development and well-being of civilization depends on choosing a progressive value system by a society. The author emphasizes that a further study must be conducted to understand and apply scientifically this model.