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Econonic Planning and Industrial Policy in the Globalizing Economy
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The book is organized under four parts. The first part provides a background to economic planning and industrial policy. In the first chapter, I introduce the book and present a general background for economic planning, industrial policy, and re- lated developmental tools. In Chap. 2, Mun HengToh provides a concise review of the major theoretical contributions to economic development since the Second World War. Backed by the Harrod–Domar growth model, economic development strategies in the 1940s till 1960s were much dominated by the debate between bal- anced growth championed by Ragnar Nurse and Rodenstein-Rodan and unbalanced growth led by Albert Hirschman. Unbalanced growth doctrine favors using the lim- ited resources to develop the identified strategic sector which will then pull and push other sectors to support and achieve overall growth. The unbalanced growth approach somewhat jived with theories based on economic dualism associated with researchers like Arthur Lewis, John Fei, and Gustav Ranis. The basic dual economy theory explains how an agrarian economy with no modern industrial sec- tor is transformed into a mature industrial economy. The idea of development as transformation from primitive traditional society to one characterized by high mass consumption was skillfully described by Rostow’s book in 1961. By the end of the 1980s, new theories that have substantive impact on economic development were propounded by academics and researchers in field of business strategies, ur- ban planning, and spatial economics
Murat Yulek - Personal Name
1st Edtion
978-3-319-06473-4
NONE
Econonic Planning and Industrial Policy in the Globalizing Economy
Management
English
Springer International Publishing
2015
1-404
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