9780262550420

Elusive Quest for Growth : Economists' Adventures and Misadventures in the Tropics

by
  • ISBN13:

    9780262550420

  • ISBN10:

    0262550423

  • Edition: Reprint
  • Format: Paperback
  • Copyright: 8/8/2002
  • Publisher: Mit Pr

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Summary

Since the end of World War II, economists have tried to figure out how poor countries in the tropics could attain standards of living approaching those of countries in Europe and North America. Attempted remedies have included providing foreign aid, investing in machines, fostering education, controlling population growth, and making aid loans as well as forgiving those loans on condition of reforms. None of these solutions has delivered as promised. The problem is not the failure of economics, William Easterly argues, but the failure to apply economic principles to practical policy work. In this book Easterly shows how these solutions all violate the basic principle of economics, that people--private individuals and businesses, government officials, even aid donors--respond to incentives. Easterly first discusses the importance of growth. He then analyzes the development solutions that have failed. Finally, he suggests alternative approaches to the problem. Written in an accessible, at times irreverent, style, Easterly's book combines modern growth theory with anecdotes from his fieldwork for the World Bank.

Author Biography

William Easterly is Senior Advisor, Development Research Group, the World Bank.

Table of Contents

Acknowledgements ix
Preface to the Paperback Edition x
Prologue: The Quest xi
I Why Growth Matters 1(20)
To Help the Poor
5(16)
Intermezzo: In Search of a River
16(5)
II Panaceas That Failed 21(120)
Aid for Investment
25(22)
Intermezzo: Parmila
45(2)
Solow's Surprise: Investment Is Not the Key to Growth
47(24)
Intermezzo: Dry Cornstalks
70(1)
Educated for What?
71(16)
Intermezzo: Without a Refuge
85(2)
Cash for Condoms?
87(14)
Intermezzo: Tomb Paintings
99(2)
The Loans That Were, the Growth That Wasn't
101(22)
Intermezzo: Roumeen's Story
121(2)
Forgive Us Our Debts
123(18)
Intermezzo: Cardboard House
138(3)
III People Respond to Incentives 141(152)
Tales of Increasing Returns: Leaks, Matches, and Traps
145(26)
Intermezzo: War and Memory
170(1)
Creative Destruction: The Power of Technology
171(24)
Intermezzo: Accident in Jamaica
193(2)
Under an Evil Star
195(22)
Intermezzo: Favela Life
215(2)
Governments Can Kill Growth
217(24)
Intermezzo: Florence and Veronica
240(1)
Corruption and Growth
241(14)
Intermezzo: Discrimination in Palanpur
253(2)
Polarized Peoples
255(30)
Intermezzo: Violent for Centuries
282(3)
Conclusion: The View from Lahore
285(8)
Notes 293(20)
References and Further Reading 313(22)
Index 335

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