Over the last decade or more, reaction against the Washington Consessus has gathered momentum, pioneered within mainstream economics by those who emphasize institutions and market imperfections, as opposed to the virtues of the market. The chapters in this book provide expert and critical, but readable and up-to-date, expositions of this 'new' development economics.

A longer view of development economic thought is provided in the topics covered. Considerable emphasis is placed on the extent to which the insights of earlier thought on development have been abandoned. As such, the volume provides a critical introductory survey of the new development economics, invaluable to all interested in economics and development studies for academic, campaigning and policy purposes.

Contents

Preface
Jomo K. S.

1. Introduction
Ben Fine

2. The New Development Economics
Ben Fine

3. Washington Consensus and Aid
Elisa Vanwaeyenberge

4. Trade Liberalisation
Sonali Deraniyagala and Ben Fine

5. Growth Theory
Ben Fine

6. IMF Financial Programming
Ben Fine

7. Developmental State
Ben Fine

8. Technology and Development
Sonali Deraniyagala

9. Privatisation
Kate Bayliss

10. Human Capital
Pauline Rose

11. Social Capital
John Harriss

12. Corruption and Governance
Mushtaq Khan

13. Peasant Agriculture
Terence J. Byres

14. Economic Geography
Hugh Goodacre

15. Economic History
Dimitris Milonakis