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Lessons of Post-War Development Experience, 1945–88

In: International Development Co-operation

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  • D. John Shaw

Abstract

This paper traces the development process from the creation of the Bretton Woods institutions to present-day adjustment measures: from the optimism of the post-war era to the present scenario of adjustment, retrenchment and stabilization. What were the mistakes and the success stories, and the lessons that can be drawn from them these last 40 years? The paper assesses how and why the Bretton Woods institutions fell short of their initial aims; it takes a hard look at the ‘golden years’ of the 1950s and 1960s; it analyses the ‘debt-led’ growth of the 1970s and the resulting ‘lost decade’ of the 1980s in Africa and Latin America. It goes on to examine the successes and failures that emerge from the history of the development process, and argues in favour of learning these lessons by resuming a policy of ‘redistribution with growth’ and re-establishing strong international institutions to ensure future growth in developing countries.

Suggested Citation

  • D. John Shaw, 2001. "Lessons of Post-War Development Experience, 1945–88," Palgrave Macmillan Books, in: D. John Shaw (ed.), International Development Co-operation, chapter 1, pages 29-77, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28729-7_2
    DOI: 10.1057/9780230287297_2
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