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Economic Progress and Prospects in the Third World
Lessons of Development Experience Since 1945
Economic Progress and Prospects in the Third World combines an elegant and persuasive summary of development progress over the last 40 years with detailed case studies of two major developing countries, Nigeria and India. Beginning with an overview of changes in development theory and practice since 1945, the book distinguishes three main phases: the 'Golden Age' of the 1950s and 1960s, the illusory debt-led growth of the 1970s, and the 'Lost Decade' of the 1980s. It explains how successes in some of the earlier phases led to difficulties later on. The authors then describe the specific ways in which these changes have affected two nations: Nigeria, a relatively open economy, India, a relatively closed economy. In conclusion, they draw on the lessons of global and domestic development for a discussion of prospects in the 1990s. This important study will prove invaluable to policymakers and economists who seek to use the experience of the past to solve the problems of the future.
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What Reviewers Are Saying
'Even with its avowed interventionist bias, the book throughout sustains a remarkable objectivity in evaluating the competing paradigms of development economics. Singer, co-author of this little gem of a book, is certainly one of the early pioneers of development economics... The nontechnical, clean, and clear presentation of the pith of the competing theories of economic growth and development will be extremely helpful to initiate undergraduates, to refresh graduate students, and to guide civil servants in the LDCs.' -- Choice 'These two distinguished authors combine their expertise to provide an overview of development progress since Bretton Woods... This book provides an excellent summary of development thinking and strategy over the past 40 years. The balance of theory and case-studies is very helpful, and makes the argument extremely persuasive. The book is highly recommended for advanced undergraduate and postgraduate students and researchers in development studies generally, international political economy, international relations generally and area studies.' -- Caroline Thomas, International Affairs 'This is an important book. It analyzes forty years of world development scenarios in a comprehensive and competent manner.' -- Rati Ram, Kyklos 'It is impossible in a short review to do real justice to Roy's impressive collection of data ... his case studies will certainly become an important reference source for economists...' -- Hans Ulrich Esslinger, Review of Political Economy 'The book provides a forceful critique of 50 years of development thinking and the international institutional largely responsible for implementing it. It offers important insights into the workings of the international political economy and the resulting marginalization of a large part of the population of the world.' -- Jerker Carlsson, Journal of Developing Areas