Economic Development 4th Edition

In the fourth edition of his textbook E. Wayne Nafziger analyzes the economic development of Asia, Africa, Latin America, and East-Central Europe. This comprehensive and clearly written text explains the growth in real income per person and income disparities within and between developing countries. The author explains the reasons for the fast growth of Pacific Rim countries, Brazil, Poland, and (recently) India, and the increasing economic misery and degradation of large parts of sub-Saharan Africa. The book also examines China and other post-socialist economies as low- and middle-income countries, without, however, overshadowing the primary emphasis on the third world. The text is replete with real-world examples. The exposition emphasizes the themes of poverty, inequality, unemployment, the environment, and deficiencies of people in less developed countries. The guide to the readings, through bibliography, and websites with links to development resources makes the book useful for students writing research papers.

Part I. Principles and Concepts of Development: 1. Introduction; 2. The meaning and measurement of economic development; 3. Economic development in historical perspective; 4. Characteristics and institutions of developing countries; 5. Theories of economic development; Part II. Poverty Alleviation and Income Distribution: 6. Poverty, malnutrition, and income inequality; 7. Rural poverty and agricultural transformation; Part III. Factors of Growth: 8. Population and development; 9. Employment, migration and urbanization; 10. Education, health, and human capital; 11. Capital formation, investment choice, information technology, and technical progress; 12. Entrepreneurship, organization, and innovation; 13. Natural resources and the environment: toward sustainable development; Part IV. The Macroeconomics and International Economics of Development: 14. Monetary, fiscal, and incomes policy, and inflation; 15. Balance of payments, aid, and foreign investment; 16. The external debt and financial crises; 17. International trade; Part V. Development Strategies: 18. Development planning and policy-making: the state and the market; 19. Stabilization, adjustment, reform, and privatization.