This paper aims at contributiing a reflection on the extant theory of development and on its failure to cogently come to grips with the process of transformation from a backward economy to a modern industrial one. What is normally left out of most of these theories is an analytical account of what can be defined as transitional paths: the crossover from a state of low-level of productivity and slow growth near equilibrium to one of high productivity and consequently high income. On the contrary, theories abound on smooth, albeit slow, virtuous circles driving development processes or on low-level traps of various kinds leading to viciuos circles of growth.The view that is taken here is a the process of structural change exhibits discontinuities.
M. Ricottilli (2013). Development Theory and Transition. LONDON : Routledge.
Development Theory and Transition
RICOTTILLI, MASSIMO
2013
Abstract
This paper aims at contributiing a reflection on the extant theory of development and on its failure to cogently come to grips with the process of transformation from a backward economy to a modern industrial one. What is normally left out of most of these theories is an analytical account of what can be defined as transitional paths: the crossover from a state of low-level of productivity and slow growth near equilibrium to one of high productivity and consequently high income. On the contrary, theories abound on smooth, albeit slow, virtuous circles driving development processes or on low-level traps of various kinds leading to viciuos circles of growth.The view that is taken here is a the process of structural change exhibits discontinuities.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
