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The Handbook of Political, Social, and Economic Transformation$
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Wolfgang Merkel, Raj Kollmorgen, and Hans-Jürgen Wagener

Print publication date: 2019

Print ISBN-13: 9780198829911

Published to Oxford Scholarship Online: March 2019

DOI: 10.1093/oso/9780198829911.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 24 June 2021

Development Economics and Transformation Studies

Development Economics and Transformation Studies

(p.106) Chapter 10 Development Economics and Transformation Studies
The Handbook of Political, Social, and Economic Transformation

MalColm H. Dunn

Joseph P. Ganahl

Oxford University Press

This chapter addresses the issue of whether development economics has made a significant contribution to transformation studies. It gives an overview of the major debates in development economics and reveals two basic theoretical positions. A market-oriented theory that accords only a subordinate role to the state, and a statist model that regards the state as the central actor in the process of development, continue to dominate the debate in development economics even today. These two sides, however, are not so fundamentally opposed that they could be mistaken for being involved in a debate over which economic system is most effective in terms of raising living standards in developing countries. Socialist or even communist positions have never attained any real significance within development economics. In this respect development economics has not contributed much to transformation studies, if transformation is understood as a fundamental shift from a market-driven capitalist system to a non-capitalist economy.

Keywords:   stages of economic growth, vicious circle of poverty, trickle-down effect, dependencia, neocolonialism, Washington Consensus, trade liberalization, new institutional economics, geography versus institutions debate

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