development economics


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Development Economics

The subset of economics concerned with improving the economic growth of low-income countries. Development economics may focus on how to implement infrastructure or develop the business environment for growth to take place. It also studies what government policies (if any) would promote growth. Development economics became a major field within economics in the latter part of the 20th century, as more former European colonies became independent.

development economics

the branch of economics that seeks to explain the processes by which a DEVELOPING COUNTRY increases in productive capacity, both agricultural and industrial, in order to achieve sustained ECONOMIC GROWTH.

Much work in development economics has focused on the way in which such growth can be achieved, for instance, the question of whether agriculture ought to be developed in tandem with industry, or whether leading industries should be allowed to move forward independently, so encouraging all other sectors of society. Another controversial question is whether less developed countries are utilizing the most appropriate technology. Many economists argue for intermediate technology as most appropriate rather than very modern plants initially requiring Western technologists and managers to run them. Socio-cultural factors are also influential in attempting to achieve take-off into sustained economic growth. See ECONOMIC DEVELOPMENT, INFANT INDUSTRY.

References in periodicals archive ?
Consequently, development economics provides a more holistic and humane approach to the study of economics.
The survey of more than 650 businesses was conducted by the Applied Development Economics based in Berkeley.
This book will be especially useful to students of development studies, development economics, and international economics.
From January 1988 to August 1990 he served as Vice President, Development Economics and Chief Economist at the World Bank.
Shapiro lives in Chicago with his wife, Emily Oster--who is also an economist at Chicago Booth and is a Faculty Research Fellow in the NBER's Labor Studies, Health Care, and Development Economics Programs--and their daughter Penelope.
The second volume, on applications, organizes selections under the broad themes of labor and education, development economics, crime, industrial organization, experiments, and other applications.
Title: Review of Development Economics Special Issue: Climate Change and Economic Development
Basu earns a PhD from the London School of Economics, founded the Centre for Development Economics at the Delhi School of Economics in 1992 and is a founding member of the Madras School of Economics.
ISLAMABAD, February 26, 2010 (Balochistan Times ): Report of the Senate Standing Committee on Finance, Revenue, Economic Affairs and Statistics and Planning and development on the Bill to grant degree awarding status to the Pakistan Institute of Development Economics (The Pakistan Institute of Development Economics Bill, 2010) was presented in the Senate on Friday.
The volume comprehensively assesses the current pertinent issues facing developing countries and development economics.
Sonics is the leader in providing solutions that dramatically improve chip development economics as a result of outsourcing the interconnect design.
Review of Development Economics Special Issue: Climate Change and Economic Development The roots of development economics lie in the study of large-scale phenomena such as economic transformation.

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