Emerging New Directions in Development Economics
In what direction does development economics head? How are the conclusions from the historical review of development economics shaping current development thinking? Are development economists on the point of devising the methods and techniques to uncover and explain the specific constraints and opportunities that characterise economic activity in low-income countries? This chapter attempts to give some tentative answers to these questions by discussing several recent contributions and trends in the development literature that are emerging out of their authors’ interpretation of the widely varying results of hitherto practiced methods and approaches to development theory and policy. Many of these contributions can in fact be viewed as first signs for the advent of a fourth generation of development economists.