Analytical Development Economics

The Less Developed Economy Revisited

Kaushik Basu (The World Bank)

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English

MIT Press
24 January 2003

Economic theory & philosophy; Development economics

Series: Analytical Development Economics

Virtually all industrialized nations have annual per capita incomes greater than $15,000; meanwhile, over three billion people, more than half the worlds population, live in countries with per capita incomes of less than $700. Development economics studies the economies of such countries and the problems they face, including poverty, chronic underemployment, low wages, rampant inflation, and oppressive international debt. In the past two decades, the international debt crisis, the rise of endogenous growth theory, and the tremendous success of some Asian economies have generated renewed interest in development economics, and the field has grown and changed dramatically.

Although Analytical Development Economics deals with theoretical development economics, it is closely grounded in reality. The author draws on a wide range of evidence, including some gathered by himself in the village of Nawadih in the state of Bihar, India, where-in huts and fields, and in front of the village tea stall-he talked with landlords, tenants, moneylenders, and landless laborers. The author presents theoretical results in such a way that those doing empirical work can go out and test the theories.

The book is a revision of Basu's The Less Developed Economy- A Critique of Contemporary Theory (Blackwell, 1984). The new edition, which has several new chapters and sections, incorporates recent theoretical advances in its comprehensive, up-to-date treatment of the subject. It is intended primarily as a textbook for a one-semester graduate course, but will also be of interest to researchers in economic development and to policymakers.

By: Kaushik Basu (The World Bank)
Imprint: MIT Press
Country of Publication: United States
Edition: New edition
Dimensions: Height: 229mm, Width: 152mm, Spine: 20mm
Weight: 522g
ISBN: 9780262523448
ISBN 10: 0262523442
Series: Analytical Development Economics
Pages: 386
Publication Date: 24 January 2003
Recommended Age: From 18 years
Audience: Professional and scholarly , Undergraduate
Format: Paperback
Publisher's Status: Active

Kaushik Basu is C. Marks Professor of International Studies at Cornell University and former Senior Vice President and Chief Economist at the World Bank. He is the author of An Economist in the Real World (MIT Press).

Reviews for Analytical Development Economics: The Less Developed Economy Revisited

The appearance of a revised version of Basu's splendid book is greatly to be welcomed, particularly by those who believe that the economics of underdevelopment should not imply the underdevelopment of economics. This volume provides excellent material for a theoretically oriented course in development economics at an advanced undergraduate or graduate level. --Christopher Scott, London School of Economics and Political Science