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Globalization and Development: A Re-examination of Development Policy

In: New Development Strategies

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  • Kaushik Basu

Abstract

The nature of policy making in developing countries has been undergoing a sea change in recent times. This is due in part to the increasing maturity of the discipline of development economics and in part to the changing nature of the global economy. Development economics has advanced rapidly on both the theoretical and empirical fronts. Better interaction with mainstream economic theory, and the increasing availability of data sets that enable us to analyze aspects of the economy that were previously beyond scrutiny, have deeply influenced the study of development. As far as the real world goes, technological advancement and globalization have had a huge impact on the nature of policy making in developing countries and, more generally, policy making for development.

Suggested Citation

  • Kaushik Basu, 2004. "Globalization and Development: A Re-examination of Development Policy," Palgrave Macmillan Books, in: Akira Kohsaka (ed.), New Development Strategies, chapter 5, pages 87-114, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52360-9_5
    DOI: 10.1057/9780230523609_5
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    Cited by:

    1. Basu, Kaushik, 2006. "Globalization, poverty, and inequality: What is the relationship? What can be done?," World Development, Elsevier, vol. 34(8), pages 1361-1373, August.

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