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Development Economics
 
 

Development Economics [Kindle Edition]

Debraj Ray
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Kurzbeschreibung

If you are instructor in a course that uses Development Economics and wish to have access to the end-of-chapter problems in Development Economics, please e-mail the author at debraj.ray@nyu.edu. For more information, please go to http://www.econ.nyu.edu/user/debraj. If you are a student in the course, please do not contact the author. Please request your instructor to do so.

The study of development in low-income countries is attracting more attention around the world than ever before. Yet until now there has been no comprehensive text that incorporates the huge strides made in the subject over the past decade. Development Economics does precisely that in a clear, rigorous, and elegant fashion.

Debraj Ray, one of the most accomplished theorists in development economics today, presents in this book a synthesis of recent and older literature in the field and raises important questions that will help to set the agenda for future research. He covers such vital subjects as theories of economic growth, economic inequality, poverty and undernutrition, population growth, trade policy, and the markets for land, labor, and credit. A common point of view underlies the treatment of these subjects: that much of the development process can be understood by studying factors that impede the efficient and equitable functioning of markets. Diverse topics such as the new growth theory, moral hazard in land contracts, information-based theories of credit markets, and the macroeconomic implications of economic inequality come under this common methodological umbrella.

The book takes the position that there is no single cause for economic progress, but that a combination of factors--among them the improvement of physical and human capital, the reduction of inequality, and institutions that enable the background flow of information essential to market performance--consistently favor development. Ray supports his arguments throughout with examples from around the world. The book assumes a knowledge of only introductory economics and explains sophisticated concepts in simple, direct language, keeping the use of mathematics to a minimum.

Development Economics will be the definitive textbook in this subject for years to come. It will prove useful to researchers by showing intriguing connections among a wide variety of subjects that are rarely discussed together in the same book. And it will be an important resource for policy-makers, who increasingly find themselves dealing with complex issues of growth, inequality, poverty, and social welfare.

Synopsis

The study of development in low-income countries is attracting more attention around the world than ever before. Yet, until now there has been no comprehensive text that incorporates the huge strides made in the subject over the past decade. "Development Economics" does precisely that in a clear, rigorous, and elegant fashion. Debraj Ray, one of the most accomplished theorists in development economics today, presents in this book a synthesis of recent and older literature in the field and raises important questions that will help to set the agenda for future research. He covers such vital subjects as theories of economic growth, economic inequality, poverty and under-nutrition, population growth, trade policy, and the markets for land, labor, and credit. A common point of view underlies the treatment of these subjects: that much of the development process can be understood by studying factors that impede the efficient and equitable functioning of markets. Diverse topics such as the new growth theory, moral hazard in land contracts, information-based theories of credit markets, and the macroeconomic implications of economic inequality come under this common methodological umbrella.

The book takes the position that there is no single cause for economic progress, but that a combination of factors - among them the improvement of physical and human capital, the reduction of inequality, and institutions that enable the background flow of information essential to market performance - consistently favor development. Ray supports his arguments throughout with examples from around the world. The book assumes a knowledge of only introductory economics and explains sophisticated concepts in simple, direct language, keeping the use of mathematics to a minimum. "Development Economics" will be the definitive textbook in this subject for years to come. It will prove useful to researchers by showing intriguing connections among a wide variety of subjects that are rarely discussed together in the same book. And it will be an important resource for policy-makers, who increasingly find themselves dealing with complex issues of growth, inequality, poverty, and social welfare.


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1 von 1 Kunden fanden die folgende Rezension hilfreich
Format:Gebundene Ausgabe|Verifizierter Kauf
Das ist bei weitem das beste Buch über die Welt-Ökonomie. Erst beim Lesen dieses Buches versteht man das ganze VWL-Studium und findet es faszinierend! Debraj Raj ist ein begandeter Leherer der es schafft ganz super verständlich und ohne einen mit Formeln zu erdrücken das Funktionieren der Wirtschaft in der ganzen Welt (der Akzent liegt auf den Entwicklungsländern)zu erklären. Das Buch liest sich leicht und spannend. Sehr viel Geschichte und Zusammenhänge werden klar. Ist jedem VWL-er nur zu empfehlen.
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5.0 von 5 Sternen An excellent text book 25. Januar 1999
Format:Gebundene Ausgabe
For quite some time, I have been looking for a good text book in Development Economics. My serach more or less ends with Ray's excellently produced, "Development Economics". The best parts of the book are Chapters 2, 3, 4 and the two appendices. However there are some notable omissions in the book. It does not have chapters on "Industrialisation" and on "Financial Flows". But I am sure this can be "rectified" in the next edition. The book is eminently accessible to a graduate student in Economics in a typical developing country.
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6 von 9 Kunden fanden die folgende Rezension hilfreich
2.0 von 5 Sternen Langatmiges Buch 8. November 1998
Von Ein Kunde
Format:Gebundene Ausgabe
Wir haben das Buch "Development Economics" von Debraj Ray fuer den Kurs Development Economics an der Universität Stockholm benutzt. Das Buch hat den Vorteil ein breites Spektrum der Entwicklungsökonomie im Rahmen eines kohärenten Instrumentariums abzudecken. Leider werden dabei bestimmte Themen wie die politische Ökonomie der Entwicklungsländer -und poltik sowie die Umweltproblematik im Zuge der ökonomischen Entwicklung fast vollständig ausgeschlossen. Des weiteren finden sich im Buch zu viele Modelle, die nur fuer geschlossene Volkswirstchaften Gueltigkeit besitzen. Ein nicht ungewichtiger Teil der dargestellten Probleme wuerde verschwinden, wenn man die Ökonmie öffnet. Darueber hinaus stören die viel zu häufigen Beispiele aus Indien, zumahl dieses Land nicht repräsentativ fuer die Menge der Entwicklungsländer ist. Letzterer Umstand trägt mit dazu bei, das die Lektuere zum Teil sehr langweilig wird, was aber im wesentlichen an der zu langatmigen Darstellungsweise von Ray liegt. Eine kuerzere und präzisere Darstellung wäre wuenschenswert. Trotz all der erwähnten Nachteile scheint Ray's Buch das zur Zeit beste Lehrbuch im Bereich der Literatur der Entwickliungsökonmie zu sein. Die Konkurrenz ist noch schlechter.
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20 von 21 Kunden fanden die folgende Rezension hilfreich
5.0 von 5 Sternen solid textbook in scientific mode 3. Mai 2003
Von los desaparecidos - Veröffentlicht auf Amazon.com
Format:Gebundene Ausgabe
This textbook was written for senior undergraduates or master's students with a minimum introduction to economics, which assumes that the student has assimilated the general features of the approach defining economics as a social science. Consequently, any student or reader who is well grounded in the social science paradigm will readily assimilate this excellent introduction to development economics, which is distinguished by the solid, I would even say, jam-packed expertise of Debraj Ray.
The author gives an excellent overview in the four-page preface, where he acknowledges the limitations of his work and prepares the reader well by conveying a transparent framework for absorbing the rather dense exposition that follows.
There is in the second chapter a concise discussion of the meaning of economic development, which defines it as a multifaceted concept for which per capita income is a robust but significantly incomplete operational measure.
Throughout the book, the basic pattern of discussion is consistent. The author discusses theory and data in dynamic--the order of the two is interchangeable--identifying and discriminating what is substantiated, imperfect, or defective in theory, as well as what is informative, unexplained, or wanting in data, and then whenever possible drawing implications or conclusions for economic policy. The ultimate goal of author's analysis is to limn the "structural characteristics" of economic development, building upon the fundamental assumption that the key determinants of economic performance are a cohort of salient variables that affect the efficient functioning of markets.
Some of the variables that are intensively discussed include inequality, poverty, population growth, rural-urban sector interaction, the functioning of land, labor, capital, credit, and insurance markets, and trade policy. Not all factors that affect economic development are adequately quantified, such as social norms or the status quo. Interestingly, the author accounts rather well for the "East Asian miracle" in terms of some of these variables.
The two appendices at the end cover game theory and elementary statistical methods, both essential for the scientific understanding of economic development.
Designed for an introductory course, the textbook is of course weakly regardful of new ideas or studies, so that it will not bring the reader to any eager appreciation of exciting issues in the discipline--or maybe economics inherently IS a dismal science?
From the standpoint of social science, the textbook is surpassingly descriptive and analytical but to only a limited extent prescriptive. I highly recommend it to anyone who wishes to substantively understand economic development in an analytical and scientific mode.
15 von 15 Kunden fanden die folgende Rezension hilfreich
5.0 von 5 Sternen Best of the best. 14. Januar 2001
Von Gerardo Villoslado - Veröffentlicht auf Amazon.com
Format:Gebundene Ausgabe
Ray wrote this book with the objective of being one of the classical text books for Development Economics. And he did it. This book is used in LSE, Ivy League, and Oxford. It requires a strong microeconomic background, as well as econometric skills. There aren't a lot of formulas but theory. Easy reading and broad contents.
12 von 12 Kunden fanden die folgende Rezension hilfreich
5.0 von 5 Sternen The best UNDERGRADUATE textbook on Development Economics 10. Januar 2005
Von K. O. Rahman - Veröffentlicht auf Amazon.com
Format:Gebundene Ausgabe
This is what I had to wait a long time for back in my days as an academic -- an UNDERGRADUATE textbook on Development Economics that is aimed squarely at economists. Most other textbooks on the subject are aimed at students with a general interest in development. While this makes them more accessible, they suffer from not seeing how useful a tool mainstream economic theory is when it comes to examining development issues. Importantly, Ray uses the analytical tools of economics without being too mathematical. This is the textbook I had my undergraduate students buy.

For graduate students it's an excellent 'background' text, but not sufficiently advanced enough to serve as a core text to supplement journal articles.
10 von 14 Kunden fanden die folgende Rezension hilfreich
5.0 von 5 Sternen An excellent text book 25. Januar 1999
Von Sunil@intech.unu.edu or SUNIL MANI - Veröffentlicht auf Amazon.com
Format:Gebundene Ausgabe
For quite some time, I have been looking for a good text book in Development Economics. My serach more or less ends with Ray's excellently produced, "Development Economics". The best parts of the book are Chapters 2, 3, 4 and the two appendices. However there are some notable omissions in the book. It does not have chapters on "Industrialisation" and on "Financial Flows". But I am sure this can be "rectified" in the next edition. The book is eminently accessible to a graduate student in Economics in a typical developing country.
3 von 4 Kunden fanden die folgende Rezension hilfreich
4.0 von 5 Sternen The basics of Development economics. 18. September 2006
Von Haggenmueller Oliver - Veröffentlicht auf Amazon.com
Format:Gebundene Ausgabe
With Debraj Ray's book, the study of Development Economics finally becomes more accessible to all those interested. It is written for the undergraduate level and is accessible to non-economists as well. The book is a formalisation of the theories on growth and development that have been published until now and gives a very good overview of the subject.

Two things, however are to criticise. First of all, it is a magnum opus that would be a lot more comfortable to read as a paperback. Second, the information presented in this book is huge, yet doesn't go into sufficient and into equal detail for all factors of growth that are presented in this book. In other words, the presentation of the different factors is at a rather general level, however some factors seem to stand out more than others, which is somewhat a little annoying, since growth depends on many factors, some of which are too narrowly described.

The style however is straight-forward and is not limited to economists alone. At the same time, a good understanding of both macro- and microeconomics (in particular) will be useful. The book should also ideally be read together with some further readings so that the reader fully understands the contents and the points that the author is stressing. Yet, it is a fabulous book that can serve as an ideal starting-step for further study in the area. Four points are therefore awarded for this book.
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