Trade, Growth and Development

During the period since the Second World War, world trade has grown very rapidly, as have the incomes of industrial countries. However, at the same time, only some of the less developed countries have succeeded in generating substantial growth in their per capita income, while others have actually seen it fall.
Trade, Growth and Development examines this disparity in growth between rich and poor nations. Part I discusses recent developments in the theory of trade, growth and economic development, emphasizing the role of institutions and knowledge. Parts II to IV present an empirical analysis of policy and performance in a number of countries. Part II deals with events in Latin America from the conquest by Spain to a study of the poor economic performance of the central American states, with a case-study on Guatemala. In comparison, Part III presents and analyses the success stories of some countries in East and South East Asia. The authors offer an analysis of the success of Taiwan and Korea. In stark contrast, to show the other side of Asian development, there is also a chapter on Bangladesh. Finally, Part IV looks at what has gone wrong in Africa. The arguments are supported by case-studies on Tanzania, Ethiopia and Kenya, Uganda and Zambia.
Throughout, the work is not limited to analyses of traditional economic factors but also emphasizes the role of politics and institutions in the process of economic development. As famine again strikes in sub-Saharan Africa Trade, Growth and Development offers a timely reminder of the importance of sound development policy.