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By G. Mavrotas, A. Shorrocks

This publication displays on present considering in improvement economics and on what might occur over the following 20 years. in addition to learning improvement economics on reflection, the quantity explores the present debates and demanding situations and appears ahead on the difficulties that impact the worldwide means to accomplish the Millennium improvement Goals.

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List of Abbreviations AEA AIDS BEEPS CAD CEE CGE CIDA CIM CIS CMH CSOs CSR DGIS DHS ECLAC ECOSOC EFF FDI FSU FTA GSC HDI HIPC HRC ICT IDEA IFC IFI IFPRI IMD IMR INGO IQR ISI IT LDC LEB MDG MFI MFN American Economic Association Acquired Immune Deficiency Syndrome Business Environment and Enterprise Performance Survey comparative advantage defying Central and Eastern Europe computable general equilibrium Canadian International Development Agency competitive industrialization model Commonwealth of Independent States Commission on Macroeconomics and Health civil society organizations corporate social responsibility Directorate-General for International Co-operation (Netherlands) demographic and health survey Economic Commission for Latin America and Caribbean (UN) Economic and Social Council extended fund facility foreign direct investment former Soviet Union free trade agreement global civil society human development index highly indebted poor country Human Rights Convention information and communications technology International Institute for Democracy and Electoral Assistance International Finance Corporation international financial institution International Food Policy Research Institute Institute for Management Development infant mortality rate international non-governmental organization interquintile ratio import substitution industrialization information technology least developed country life expectancy at birth Millennium Development Goal microfinance institution most favoured nation xxxiii xxxiv List of Abbreviations MNC NGO NIEO ODA OLS PCGDP PCI ppp PPP PPS PREM PRI PRSP PSD PTA SITC SME SOE SPA SSA STM TFP TNC TOT TRIP TVE UNCED UNCTAD UNDP UNECA UNFPA UNSC COMTRADE UNU-WIDER U5MR WDI WIEGO WIID multinational corporation non-governmental organization New International Economic Order official development assistance ordinary least squares per capita GDP per capita income pro-poor policy (Kakwani and Son) purchasing power parity purchasing power standard Poverty Reduction and Economic Management Institutional Revolutionary Party, Mexico Poverty Reduction Strategy Paper Social Democratic Party, Romania preferential trading arrangements Standard International Trade Classification small- and medium-sized enterprises state-owned enterprise Special Programme of Assistance for Africa sub-Saharan Africa staple trap model total factor productivity transnational corporation terms of trade trade-related intellectual property township and village enterprise United Nations Conference on Environment and Development United Nations Conference on Trade and Development United Nations Development Programme United Nations Economic Commission for Africa United Nations Population Fund United Nations Statistics Division United Nations University–World Institute for Development Economics Research under five mortality rate World Development Indications Women in Informal Employment: Globalizing and Organizing World Income Inequality Database Legacy – Lal Jayawardena: Crafting Development Policy Ajit Singh* Dr Lal Jayawardena, who died in Colombo in April 2004, was an intellectual, a lover of life and a humane and gifted leader.

The ILO’s World Employment Programme and the World Bank generated much useful empirical The Evolution of the Development Doctrine 13 research focused on such issues as the relationship between population growth and employment; appropriate labour-intensive technologies; the educational systemlabour market–employment–income distribution nexus; the informal sector; the determinants of rural–urban migration and the role of traditional agriculture in the development process. A third contribution that surfaced in the 1970s includes the interdependence between economic and demographic variables and the determinants of the rural–urban migration.

If investment in human capital and know-how by individuals and firms is indeed subject to increasing returns and externalities, it means that the latter do not receive the full benefits of their investment resulting, consequently, in underinvestment in human capital (the marginal social productivity of investment in human capital being larger than that of the marginal private productivity). The market is likely to under-produce human capital and this provides a rationale for the role of the government in education and training.

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