Shortcut or Piecemeal: Economic Development Strategies and Structural Change

3. Industrialization—History
This book explores alternative strategies of economic development, focusing on the shift from industry to human capital-intensive services as the engine of growth. It highlights the importance of intangible capital and economic freedom in bringing about structural change. It also provides an extensive assessment of four key developing countries.

Format: Paperback / softback
Length: 226 pages
Publication date: 15 September 2023
Publisher: Central European University Press

Economic development strategies have received limited attention in academic literature, with scholars rarely comparing specific features or evaluating the outcomes of different approaches. This book aims to bridge that gap and provide a theoretical foundation for the transition from industry-driven growth to human capital-intensive services as the driving force of economic progress. Pioneering studies have uncovered intriguing trends and patterns that highlight the increasing significance of intangible capital in driving GDP levels. They also indicate a more significant role of economic freedom in facilitating this second major structural transformation compared to industrialization.

In this context of structural change and the importance of freedom, Shortcut or Piecemeal offers a comprehensive assessment of four key developing countries: Brazil, Russia, India, and China. The book explores the historical background, economic policies, and challenges faced by these nations in their pursuit of economic development. It examines the impact of central planning, market-oriented reforms, and government interventions on their economic growth and development outcomes.

Through detailed case studies and analysis, the book sheds light on the successes and failures of different development strategies and provides insights into the factors that contribute to sustainable economic growth. It emphasizes the importance of human capital, technological innovation, and social policies in fostering economic development and promoting social well-being.

Overall, Shortcut or Piecemeal offers a valuable contribution to the literature on economic development, providing a comprehensive and insightful perspective on the challenges and opportunities facing developing countries in their pursuit of prosperity.

Weight: 310g
Dimension: 229 x 152 x 12 (mm)
ISBN-13: 9789633867044