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Economic Development Strategies and Structural Change

Jan Winiecki (1938-2016) was Professor and Chair of International Economics at the University of Information Technology and Management (WSIZ) in Rzeszow, Poland and member of the Polish President's Policy Advisory Council. more

Alternative strategies of economic development have received little attention in the literature. Academics rarely compare certain strategic features or assess the performance of different strategies in terms of outcomes. This book seeks to address that gap and to provide a theoretical background to the shift from industry to human capital-intensive services as the engine of economic growth. Pioneering studies reveal interesting trends and patterns that point to the growing importance of intangible capital for the level of GDP. They also indicate a much greater role of economic freedom in bringing about this second great structural change than was the case with industrialization. With this perspective on structural change and the role of freedom, Shortcut or Piecemeal also provides an extensive assessment of four key developing countries: Brazil, Russia, India, and China.

List of Figures; List of Tables; Introduction; I.; DEVELOPMENTAL STRATEGIES PURSUED OVER THE PAST CENTURY Chapter 1. Centrally Planned and Administered Economy and Steep Ascent Strategy: A Complete Failure; Chapter 2. Development Economics-based Strategy in Less Developed Countries: An Incomplete Failure; Chapter 3. A Shift Toward Better Understood (and Appreciated) Classical Economic Prescriptions: An Incomplete Success; II. TRANSFORMATIONS OF OUTPUT STRUCTURE IN THE PROCESS OF ECONOMIC DEVELOPMENT Chapter 4. Industrialization: The First Major Phase of Structural Transformation; Chapter 5. The Shift to Human Capital-intensive Market Services: The Second Major Phase of Structural Transformation; III. APPLYING THE CONCLUSIONS: BRIC COUNTRIES’ DEVELOPMENTAL STRATEGIES Chapter 6. Russia and China: Some Historical as well as Performance Similarities (Up to a Point…); Chapter 7. India and Brazil: Two Perennial “Great Potentials”; Postscript: On Choosing Inefficient Institutions; Bibliography; Index

"In Shortcut or Piecemeal, Jan Winiecki, one of the top liberal economists in Europe, presents a penetrating, empirically based analysis of the statist systems and strategies. He unmasks their theoretical and philosophical fallacies and explains why they have failed economically, while also describing the successes of free-market systems. The book is both very erudite and clearly written." -- Leszek Balcerowicz, Professor of Economics at the Warsaw School of Economics, former Deputy Prime Minister of Poland and Minister of Finance, and former President of the National Bank of Poland

"Jan Winiecki, one of the best known and most accomplished Polish economists in the international arena, offers a comparative analysis of the steep ascent strategy of Communist planners to the forced industrialization strategies of the Third World. His overview, as the title suggests, carries a message for economists, political scientists, IR specialists, and to anyone interested in one of the eldest questions in comparative analysis: why some nations fail and others strive? A must read for anyone interested in what is relevant for the real world." -- László Csaba, University Professor of International Political Economy at Central European University, Budapest, Member of the Hungarian Academy of Sciences and of Academia Europaea/London

214 pages, 2015

978-963-386-063-2 cloth

$60.00 / €52.00 / £40.00