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Alternative Routes to Development

In: Modeling Developing Countries' Policies in General Equilibrium

Author

Listed:
  • HOLLIS CHENERY
  • JEFFREY LEWIS
  • JAIME DE MELO
  • SHERMAN ROBINSON

Abstract

UP TO NOW, our analysis has focused on real activity in the economy and its implications for aggregate growth, factor accumulation, resource allocation, productivity growth, and changes in the structure of production and of demand. The role of market mechanisms and of relative prices in determining resource allocation and structural change has been left in the background. Yet in mixed economies, the policy instruments that are designed to promote development work through markets and prices. In this chapter, therefore, we explicitly consider how market mechanisms and relative prices affect industrialization under different development strategies…

Suggested Citation

  • Hollis Chenery & Jeffrey Lewis & Jaime De Melo & Sherman Robinson, 2015. "Alternative Routes to Development," World Scientific Book Chapters, in: Modeling Developing Countries' Policies in General Equilibrium, chapter 9, pages 179-215, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814494816_0009
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