Table of contents for Economic development / Michael P. Todaro, Stephen C. Smith.

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Table of Contents
List of Case Studies	xxvii 
Part One Principles and Concepts	000 
1	Economics, Institutions, and Development: 
A Global Perspective	000 
How the Other Half Live	000 
Economics and Development Studies	000 
The Nature of Development Economics 000 
Why Study Development Economics? Some Critical Questions 000 
The Important Role of Values in Development Economics 000 
Economies as Social Systems: The Need to Go Beyond Simple Economics	000 
What Do We Mean by Development?	000 
Traditional Economic Measures 000 
The New Economic View of Development 000 
Sen's "Capabilities" Approach 000 
Three Core Values of Development 000 
The Three Objectives of Development 000 
The Millennium Development Goals 000 
Conclusions	000 
	Case Study: Progress in the Struggle for More Meaningful Development: Brazil 
2	Comparative Development: 
Differences and Commonalities among Developing Countries	000 
Defining the Developing World	000 
The Structural Diversity of Developing Economies	000 
Size and Income Level 000 
Historical Background 000 
Physical and Human Resources 000 
Ethnic and Religious Composition 000 
Relative Importance of the Public and Private Sectors 
and Civil Society 000 
Industrial Structure 000 
Political Structure, Power, and Interest Groups 000 
Common Characteristics of Developing Nations	000 
Low Levels of Living 000 
A Holistic Measure of Living Levels: 
The Human Development Index 000 
Low Levels of Productivity 000 
High Rates of Population Growth and Dependency Burdens 000 
Substantial Dependence on Agricultural Production 
and Primary-Product Exports 000 
Prevalence of Imperfect Markets and Incomplete Information 000 
Dependence and Vulnerability in International Relations 000 
How Developing Countries Today Differ from Developed 
Countries in Their Earlier Stages	000 
Physical and Human Resource Endowments 000 
Relative Levels of Per Capita Income and GDP 000 
Climatic Differences 000 
Population Size, Distribution, and Growth 000 
The Historical Role of International Migration 000 
The Growth Stimulus of International Trade 000 
Basic Scientific and Technological Research and 
Development Capabilities 000 
Stability and Flexibility of Political and Social Institutions 000 
Efficacy of Domestic Economic Institutions 000 
Are Living Standards of Developing and Developed Countries Converging?	000 
Conclusion	000 
	Case Study: Divergent Development: Pakistan and Bangladesh	000 
	Appendix 2.1 Components of Economic Growth	000 
3	Classic Theories of Economic Development	000 
Classic Theories of Economic Development: Four Approaches	000 
Development as Growth and the Linear-Stages Theories	000 
Rostow's Stages of Growth 000 
The Harrod-Domar Growth Model 000 
Obstacles and Constraints 000 
Necessary versus Sufficient Conditions: Some Criticisms 
of the Stages Model 000 
Structural-Change Models	000 
The Lewis Theory of Development 000 
Structural Change and Patterns of Development 000 
Conclusions and Implications 000 
The International-Dependence Revolution	000 
The Neocolonial Dependence Model 000 
The False-Paradigm Model 000 
The Dualistic-Development Thesis 000 
Conclusions and Implications 000 
The Neoclassical Counterrevolution: Market Fundamentalism	000 
Challenging the Statist Model: Free Markets, Public Choice, 
and Market-Friendly Approaches 000 
Traditional Neoclassical Growth Theory 000 
Conclusions and Implications 000 
Classic Theories of Development: Reconciling the Differences	000 
	Case Study: Schools of Thought in Context: South Korea and Argentina	000 
	Appendix 3.1 The Solow Neoclassical Growth Model	000 
4	Contemporary Models of Development and Underdevelopment	000 
The New Growth Theory: Endogenous Growth	000 
Motivation for the New Growth Theory 000 
The Romer Model 000 
Criticisms of the New Growth Theory 000 
Underdevelopment as a Coordination Failure	000 
Multiple Equilibria: A Diagrammatic Approach	000 
Starting Economic Development: The Big Push	000 
The Big Push: A Graphical Model 000 
Why the Problem Cannot Be Solved by a Super-Entrepreneur 000 
Further Problems of Multiple Equilibria	000 
Kremer's O-Ring Theory of Economic Development	000 
The O-Ring Model 000 
Implications of the O-Ring Theory 000 
Summary and Conclusions: Multiple Equilibria and Coordination Failures	000 
	Case Study: Understanding a Development Miracle: China	000 
Part Two Problems and Policies: Domestic 
5	Poverty, Inequality, and Development	000 
Measuring Inequality and Poverty	000 
Measuring Inequality 000 
Measuring Absolute Poverty 000 
Poverty, Inequality, and Social Welfare	000 
What's So Bad about Inequality? 000 
Dualistic Development and Shifting Lorenz Curves: 
Some Stylized Typologies 000 
Kuznets' Inverted-U Hypothesis 000 
Growth and Inequality 000 
Absolute Poverty: Extent and Magnitude	000 
Growth and Poverty 000 
Economic Characteristics of Poverty Groups	000 
Rural Poverty 000 
Women and Poverty 000 
Ethnic Minorities, Indigenous Populations, and Poverty 000 
The Range of Policy Options: Some Basic Considerations	000 
Areas of Intervention 000 
Policy Options 000 
Summary and Conclusions: The Need for a Package of Policies	000 
	Case Study: Making Microfinance Work for the Poor: 
The Grameen Bank of Bangladesh	000 
	Appendix 5.1 Appropriate Technology and Employment Generation: 
The Price-Incentive Model	000 
	Appendix 5.2 The Ahluwalia-Chenery Welfare Index	000 
6	Population Growth and Economic Development: 
Causes, Consequences, and Controversies	000 
The Basic Issue: Population Growth and the Quality of Life	000 
A Review of Numbers: Population Growth-Past, Present, and Future	000 
World Population Growth through History 000 
Structure of the World's Population 000 
The Hidden Momentum of Population Growth 000 
The Demographic Transition	000 
The Causes of High Fertility in Developing Countries: 
The Malthusian and Household Models	000 
The Malthusian Population Trap 000 
Criticisms of the Malthusian Model 000 
The Microeconomic Household Theory of Fertility 000 
The Demand for Children in Developing Countries 000 
Some Empirical Evidence 000 
Implications for Development and Fertility 000 
The Consequences of High Fertility: Some Conflicting Opinions	000 
Population Growth Is Not a Real Problem 000 
A Deliberately Contrived False Issue 000 
A Desirable Phenomenon 000 
Population Growth Is a Real Problem 000 
The Empirical Argument: Seven Negative Consequences 
of Population Growth 000 
Goals and Objectives: Toward a Consensus	000 
Some Policy Approaches	000 
What Developing Countries Can Do 000 
What the Developed Countries Can Do: Resources, 
Population, and the Global Environment 000 
How Developed Countries Can Assist Developing 
Countries with Their Population Programs 000 
Conclusion	000 
	Case Study: Population, Poverty, and Development: China and India	000 
7	Urbanization and Rural-Urban Migration: Theory and Policy	000 
The Migration and Urbanization Dilemma	000 
Urbanization: Trends and Projections 000 
The Role of Cities	000 
Industrial Districts 000 
Efficient Urban Scale 000 
The Urban Giantism Problem	000 
First City Bias 000 
Causes of Urban Giantism 000 
The Urban Informal Sector	000 
Policies for the Urban Informal Sector 000 
Women in the Informal Sector 000 
Urban Unemployment	000 
Migration and Development	000 
Toward an Economic Theory of Rural-Urban Migration	000 
A Verbal Description of the Todaro Model 000 
A Diagrammatic Presentation 000 
Five Policy Implications 000 
Summary and Conclusions: The Shape of a Comprehensive 
Migration and Employment Strategy	000 
	Case Study: Rural Urban Migration and Urbanization in 
Developing Countries: India and Botswana	000 
	Appendix 7.1 A Mathematical Formulation of the Todaro Migration Model
8	Human Capital: Education and Health in Economic Development	000 
The Central Roles of Education and Health	000 
Education and Health as Joint Investments for Development	000 
Improving Health and Education: Why Increasing Income Is Not Sufficient	000 
Investing in Education and Health: The Human Capital Approach	000 
Child Labor	000 
The Gender Gap: Women and Education	000 
Consequences of Gender Bias in Health and Education 000 
Educational Systems and Development	000 
Educational Supply and Demand: The Relationship between 
Employment Opportunities and Educational Demands 000 
Social versus Private Benefits and Costs 000 
Distribution of Education 000 
Education, Inequality, and Poverty 000 
Education, Internal Migration, and the Brain Drain 000 
Health Systems and Development	000 
Measurement and Distribution 000 
Disease Burden 000 
Malaria and Parasitic Worms 000 
HIV and AIDS 000 
Health and Productivity 000 
Health Systems Policy 000 
Policies for Health, Education, and Income Generation	000 
	Case Study: AIDS-Economic Development Impact and the Needed Response: 
Uganda and South Africa	000 
9	Agricultural Transformation and Rural Development	000 
The Imperative of Agricultural Progress and Rural Development	000 
Agricultural Growth: Past Progress and Current Challenges	000 
The Structure of Agrarian Systems in the Developing World	000 
Two Kinds of World Agriculture 000 
Peasant Agriculture in Latin America, Asia, and Africa 000 
Conclusions 000 
The Important Role of Women	000 
The Economics of Agricultural Development: Transition from 
Peasant Subsistence to Specialized Commercial Farming	000 
Subsistence Farming: Risk Aversion, Uncertainty, and Survival 000 
The Transition to Mixed and Diversified Farming 000 
From Divergence to Specialization: Modern Commercial Farming 000 
Conclusions 000 
Toward a Strategy of Agricultural and Rural Development: 
Some Main Requirements	000 
Improving Small-Scale Agriculture 000 
Conditions for Rural Development 000 
	Case Study: Improving Agricultural Extension for Women Farmers: Kenya
10	The Environment and Development	000 
Economics and the Environment	000 
Environment and Development: The Basic Issues	000 
Sustainable Development and Environmental Accounting 000 
Population, Resources, and the Environment 000 
Poverty and the Environment 000 
Growth versus the Environment 000 
Rural Development and the Environment 000 
Urban Development and the Environment 000 
The Global Environment 000 
The Scope of Environmental Degradation: An Overview	000 
Rural Development and the Environment: A Tale of Two Villages	000 
Traditional Economic Models of the Environment	000 
Privately Owned Resources 000 
Common Property Resources 000 
Public Goods and Bads: Regional Environmental Degradation 
and the Free-Rider Problem 000 
Limitations of the Public-Good Framework 000 
Urban Development and the Environment	000 
The Ecology of Urban Slums 000 
Industrialization and Urban Air Pollution 000 
Problems of Congestion and the Availability of Clean Water 
and Sanitation 000 
The Need for Policy Reform	000 
The Global Environment: Rain Forest Destruction and Greenhouse Gases	000 
Policy Options in Developing and Developed Countries	000 
What Less Developed Countries Can Do 000 
How Developed Countries Can Help LDCs 000 
What Developed Countries Can Do for the Global Environment 000 
	Case Study: Economic Growth and Environmental Sustainability: The Philippines
	Elizabeth M. Remedio	000 
11	Development Policymaking and the Roles 
of Market, State, and Civil Society	000 
The Planning Mystique	000 
The Nature of Development Planning	000 
Basic Concepts 000 
Planning in Mixed Developing Economies 000 
The Rationale for Development Planning	000 
The Planning Process: Some Basic Models	000 
Aggregate Growth Models: Projecting Macro Variables 	000 
Multisector Models and Sectoral Projections	000 
Project Appraisal and Social Cost-Benefit Analysis	000 
Conclusions: Planning Models and Plan Consistency	000 
Problems of Plan Implementation and Plan Failure	000 
Theory versus Practice 000 
Reasons for Plan Failure 000 
Government Failure and the Resurgent Preference for Markets 
over Planning	000 
The Market Economy	000 
Sociocultural Preconditions and Economic Requirements 000 
Role and Limitations of the Market in LDCs 000 
The "Washington Consensus" on the State in Development and 
Its Limitations	000 
Toward a New Consensus 000 
Development Political Economy: Theories of Policy Formulation 
and Reform	000 
Understanding Voting Patterns on Policy Reform 000 
Institutions and Path Dependency 000 
Democracy versus Autocracy: Which Facilitates Faster Growth? 000 
Development Roles of NGOs and the Broader Citizen Sector 000 
Trends in Governance and Reform	000 
Tackling the Problem of Corruption 000 
Decentralization 000 
Development Participation 000 
Development Policy and the State: Concluding Observations	000 
	Case Study: A National Development NGO: The BRAC Model	000 
Part Three Problems and Policies: International and Macro 
12	Trade Theory and Development Experience	000 
Globalization: An Introduction	000 
International Trade and Finance: Some Key Issues	000 
Five Basic Questions about Trade and Development	000 
Importance of Exports to Different Developing Nations 000 
Demand Elasticities and Export Earnings Instability 000 
The Terms of Trade and the Prebisch-Singer Thesis	000 
The Traditional Theory of International Trade	000 
Comparative Advantage 000 
Relative Factor Endowments and International Specialization: 
The Neoclassical Model 000 
Trade Theory and Development: The Traditional Arguments 000 
Some Criticisms of Traditional Free-Trade Theory in the Context 
of Developing-Country Experience	000 
Fixed Resources, Full Employment, and the International Immobility 
of Capital and Skilled Labor 000 
Fixed, Freely Available Technology and Consumer Sovereignty 000 
Internal Factor Mobility and Perfect Competition: Increasing Returns, 
Imperfect Competition, and Controlled Markets 000 
The Absence of National Governments in Trading Relations 000 
Balanced Trade and International Price Adjustments 000 
Trade Gains Accruing to Nationals 000 
Some Conclusions on Trade Theory and Economic Development Strategy	000 
	Case Study: Taiwan: A Development Success Story	000 
13	The Trade Policy Debate: Export Promotion, 
Import Substitution, and Economic Integration	000 
Trade Strategies for Development: Export Promotion versus 
Import Substitution	000 
Export Promotion: Looking Outward and Seeing Trade Barriers 000 
Import Substitution: Looking Inward but Still Paying Outward 000 
The IS Industrialization Strategy and Results 000 
Foreign-Exchange Rates, Exchange Controls, and the 
Devaluation Decision 000 
Summary and Conclusions: Trade Optimists and Trade Pessimists	000 
Trade Pessimist Arguments 000 
Trade Optimist Arguments 000 
The Industrialization Strategy Approach to Export Policy	000 
Reconciling the Arguments: The Data and the Consensus	000 
South-South Trade and Economic Integration: Looking Outward and Inward	000 
The Growth of Trade among Developing Countries 000 
Economic Integration: Theory and Practice 000 
Regional Trading Blocs and the Globalization of Trade 000 
Trade Policies of Developed Countries: The Need for Reform	000 
Rich-Nation Tariff and Nontariff Trade Barriers and 
the 1995 Uruguay Round GATT Agreement 000 
	Case Study: Industrial and Export Policy: South Korea	000 
14	Balance of Payments, Developing-Country Debt, 
and the Macroeconomic Stabilization Controversy	000 
The Balance of Payments Account	000 
General Considerations 000 
A Hypothetical Illustration: Deficits and Debts 000 
Financing and Reducing Payments Deficits	000 
Some Initial Policy Issues 000 
Trends in LDC Balance of Payments 000 
The Debt Crisis of the 1980s	000 
Background and Analysis 000 
Origins of the Debt Crisis 000 
Attempts at Alleviation: Macroeconomic Instability, 
IMF Stabilization Policies, and Their Critics	000 
The IMF Stabilization Program 000 
Tactics for Debt Relief 000 
Has the Debt Problem Disappeared? Winners and Losers 000 
Conclusions	000 
	Case Study: Mexico: Crisis, Debt Reduction, and the Struggle for Renewed 
Growth	000 
	Appendix 14.1 A Brief History and Analysis of the International Monetary Fund 
and the World Bank	000 
15	Foreign Finance, Investment, and Aid: 
Controversies and Opportunities	000 
The International Flow of Financial Resources	000 
Private Foreign Direct Investment and the Multinational Corporation	000 
Multinational Corporations: Size, Patterns, and Trends 000 
Private Foreign Investment: Some Pros and Cons for Development 000 
Private Portfolio Investment: Boon or Bane for LDCs?	000 
Foreign Aid: The Development Assistance Debate	000 
Conceptual and Measurement Problems 000 
Amounts and Allocations: Public Aid 000 
Why Donors Give Aid 000 
Why LDC Recipients Accept Aid 000 
The Growing Role of Nongovernmental Organizations (NGOs) 000 
The Effects of Aid 000 
	Case Study: Botswana: African Success Story at Risk	000 
16	Finance and Fiscal Policy for Development	000 
The Role of the Financial System	000 
The Painful Road to Macroeconomic Stability	000 
Differences between MDC and LDC Financial Systems 000 
The Role of Central Banks 000 
The Emergence of Development Banking 000 
nformal Finance, Group Lending, and Microfinance Institutions 
for Small-Scale Enterprise 000 
Reforming Financial Systems	000 
Financial Liberalization, Real Interest Rates, Savings, 
and Investment 000 
Financial Policy and the Role of the State 000 
Debate on the Role of the Stock Markets 000 
Fiscal Policy for Development	000 
Macrostability and Resource Mobilization 000 
Taxation: Direct and Indirect 000 
Public Administration: The Scarcest Resource	000 
State-Owned Enterprises	000 
Improving the Performance of SOEs 000 
Privatization: Theory and Experience 000 
Military Expenditures and Economic Development	000 
Significance and Economic Impact 000 
	Case Study: Chile and Poland Privatization: What, When, and to Whom?	000 
17	Some Critical Issues for the Twenty-First Century	000 
Global Independence and the Growth of Developing-World Markets	000 
The Global Environment and the Developing World	000 
Pollutants and Their Consequences for the Global Environment 000 
MDC and LDC Contributions to Greenhouse Gases 000 
Rain Forest Preservation as a Public Good: Who Should Pay? 000 
Searching for Solutions: The 1992, 1997, and 2002 Summits 000 
The Crisis in Sub-Saharan Africa	000 
Globalization and International Financial Reform	000 
Concluding Remarks	000 
Glossary	000 
Name Index	000 
Subject Index	000

Library of Congress Subject Headings for this publication:

Economic development.
Developing countries -- Economic policy.