Patterns of development: Resources, policy and economic growth

Comparing the post-war economic development of five main types of developing country (low-income African, low-income large Asian, mid-income Latin American, the mineral economy and newly industrializing East Asian), this book explains their diverging economic performance largely through internal policies, but particular attention is paid to the impact of a country's natural resource endowment on policy choice. The tendency for well-endowed countries to under-perform in relation to their potential is noted and explained in terms of a "resource curse" thesis. The book argues that post-war experience has shown which economic policies can secure rapid per capita economic growth. As a result new priorities are emerging concerned with the promotion of environmentally sustainable development, more equal opportunity and political pluralism. Against this broad thesis, the book pursues five central themes: rural urbanization, unequal terms of trade and the role of government. Each theme is discussed with particular reference to one of the five types of country, noting the key implications for the other four country types.