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First Published in 2005. Routledge is an imprint of Taylor & Francis, an informa company.
First Published in 2005. Routledge is an imprint of Taylor & Francis, an informa company.
In this title, first published in 1978, Sir Arthur Lewis considers the development of the international economy in the forty years leading up to the First World War, with the adoption of the gold standard, a rapid growth in world trade, the opening up of the continents by the railways, vast emigration from Europe, India and China, and large-scale international investment. The book contrasts the relationship between prices, industrial fluctuations, agricultural output, and the stock of monetary gold, considering both the varying patterns of leading economies and then their net combined effect on the rest of the world. This is history which illuminates the contemporary economic climate in which it was written but also casts light upon our current economic crisis.
Since the 1960s the per capita incomes of the resource-poor countries have grown significantly faster than those of the resource-abundant countries. In fact, in recent years economic growth has been inversely proportional to the share of natural resource rents in GDP, so that the small mineral-driven economies have performed least well and the oil-driven economies worst of all. Yet the mineral-driven resource-rich economies have high growth potential because the mineral exports boost their capacity to invest and to import. "Resource Abundance and Economic Development" explains the disappointing performance of resource-abundant countries by extending the growth accounting framework to include natural and social capital. The resulting synthesis identifies two contrasting development trajectories: the competitive industrialization of the resource-poor countries and the staple trap of many resource-abundant countries. The resource-poor countries are less prone to policy failure than the resource-abundant countries because social pressures force the political state to align its interests with the majority poor and follow relatively prudent policies. Resource-abundant countries are more likely to engender political states in which vested interests vie to capture resource surpluses (rents) at the expense of policy coherence. A longer dependence on primary product exports also delays industrialization, heightens income inequality, and retards skill accumulation. Fears of 'Dutch disease' encourage efforts to force industrialization through trade policy to protect infant industry. The resulting slow-maturing manufacturing sector demands transfers from the primary sector that outstrip the natural resource rents and sap the competitiveness of the economy. The chapters in this collection draw upon historical analysis and models to show that a growth collapse is not the inevitable outcome of resource abundance and that policy counts. Malaysia, a rare example of successful resource-abundant development, is contrasted with Ghana, Bolivia, Saudi Arabia, Mexico, and Argentina, which all experienced a growth collapse. The book also explores policies for reviving collapsed economies with reference to Costa Rica, South Africa, Russia and Central Asia. It demonstrates the importance of initial conditions to successful economic reform.
This volume, first published in 1982, is a collection of original essays written to honour Professor W. Arthur Lewis, 1979 co-winner of the Nobel Prize in economics. The authors, an international group of distinguished scholars, address a varied set of specific issues reflecting Professor Lewis’ research interests, covering topics which include: technological change in agriculture, analyses of unemployment and income distribution, the role of government policy in the development process, the historical record of development, and the relationship between developed and developing nations. The book will be of interest to both the academic researcher and practicing professionals in the international organisations and national governments, and are particularly appropriate to graduate courses in economic development, cost-benefit analysis and economic history.
Development thought emerged as the governing principle of First World global hegemony in the new world order marked by the end of the Second World War and decolonization. Six decades later, at yet another critical geopolitical conjuncture marked by globalization and neoliberal resurgence, History of Development Thought revisits the major strands in the development debate from the 1950s to the early twenty-first century. The volume places classic international interventions in critical development thinking alongside major contributions to the discourse from the Indian context. Beginning by juxtaposing W. A. Lewis’s classic liberal theory of the dual economy with P. C. Mahalanobis’s schema for planned development in India, the volume tracks the trajectory of the development debate — from the Latin American neo-Marxist paradigm, through the ‘mode of production’ debates in India, to Indian and international feminist perspectives on development. It explores the departures of the 1980s in India and elsewhere as theorists, including Pranab Bardhan, Sukhamoy Chakravarty, Partha Chatterjee, A. O. Hirschman, Samuel Huntington, and Amartya Sen, sought to address from various perspectives the reasons for the failure of development to live up to expectations. It ends with excerpts signposting the emerging strands of the development (and post-development) debate at the turn of the twenty-first century. Throughout, the volume remains committed to the paradigm of development as a horizon of critical thought and a field of democratic politics, while paying attention to the multiple storylines of the discourse over the last 60 years. This anthology, together with its critical introduction and rigorous prefatory remarks for each extract, will be invaluable to students and researchers in the social sciences and the humanities, especially those in development studies, history, politics and economics, as well as to activists, administrators, and professionals in health, education, and development.
In the early 1880s a disastrous plant disease diminished the yields of the hitherto flourishing coffee plantation of Ceylon. Coincidentally, world market conditions for coffee were becoming increasingly unfavourable. The combination of these factors brought a swift end to coffee cultivation in the British crown colony and pushed the island into a severe economic crisis. When Ceylon re-emerged from this crisis only a decade later, its economy had been thoroughly transformed and now rested on the large-scale cultivation of tea. This book uses the unprecedented intensity and swiftness of this process to highlight the socioeconomic interconnections and dependencies in tropical export economies in the late nineteenth century and it shows how dramatically Ceylonese society was affected by the economic transformation.
British colonial rule of the tropics is the critical background to contemporary development issues. This study of Britain's economic and political relationship with its tropical colonies provides detailed analyses of trade and policy. The considerations of past successes and failures elucidate current opportunities and developments. No other book covers this broad topic with such detail and clarity.