The economics of development

Abstract

Reviews the literature on economic development and discusses the growth performance of developing countries over the last 40 years. Comments on the relationship between agriculture and industry and considers the relationship between state, development strategies and international trade. Reviews concerns regarding non‐renewable resources and environmental degradation in the context of growth. Discusses changes in world economy brought about by less developed countries transforming into newly industrializing countries, highlighting mechanisms for the relative rise and decline of nations in the world economy.