Title

Four Scenarios of Development and the Role of Economic Policy

Document Type

Article

Language

eng

Format of Original

14 p.

Publication Date

3-2011

Publisher

Taylor & Francis (Routledge)

Source Publication

Journal of Development Studies

Source ISSN

0022-0388

Abstract

We ask which economic policies can help a country create the most favourable conditions for development. We observe that the dynamics of several development indicators can be grouped into four clusters, each cluster corresponding to a different combination of growth and changes in inequality. Based on this observation, we define four different development scenarios and use limited dependent variable regressions to study how structural and policy factors affect a country's probability to achieve the most (or the least) favourable of these scenarios. Our results point to a comforting picture: through the choice of appropriate policies countries can effectively increase their chances to achieve the most favourable development scenario.

Comments

Journal of Development Studies, Vol. 47, No. 3 (March 2011): 519-532. DOI.

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