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Recent Tendencies in Development Economics: Bringing Institutions Back in?

  • James M. Cypher
Chapter

Abstract

This chapter critically analyzes some major recent analytical tendencies in development economics. In particular, the focus will be on key points of contention within the field of study as expressed through the writings of a number of prominent contributors. Most particularly, this chapter will concentrate on the role of institutions and institutional innovation in the context of development. After numerous complex twists and turns, development economics—as currently practiced by many, but not all—has returned to its “big picture” roots as expressed in the research of the “pioneers of development.” The pioneers—among them Paul Rosenstein-Rodan, Gunner Myrdal, Ragnar Nurkse, Albert Hisrchman, and W. A. Lewis—gained prominence in the early postwar years with their broad, generalized, and often Keynesian approach to development issues (Cypher and Dietz 1997, Ch 5).

Keywords

Foreign Direct Investment International Monetary Fund Market Failure Asian Crisis World Development Report 
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© Springer Science+Business Media New York 2003

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  • James M. Cypher

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