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Analytical Development Economics: the Less Developed Economy Revisited

by Kaushik Basu The MIT Press
Pub Date:
Pbk 388 pages
AU$105.00 NZ$108.70
Product Status: Available in Approx 7 days
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& Academics:
'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. 'An admirable combination of introductory helpfulness and state-of-the-art coverage. And fun to read!' - Amartya Sen, Professor of Economics and Philosophy, Harvard University 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, & the tremendous success of some Asian economies have generated renewed interest in development economics, &the field has grown and changed dramatically. Although this book 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 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 Less Developed Economy: (Blackwell). The new edition, 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 policymakers.
Kaushik Basu is Professor of Economics and holds a chair at Cornell University.