Reflections on the Foundations of Development Policy Analysis

James Roumasset

No 201421, Working Papers from University of Hawaii at Manoa, Department of Economics

Abstract: There is a persistent tendency in economic development circles to jump to policy conclusions without entertaining more fundamental explanations of empirical patterns. After reviewing several examples in the field of agricultural development, I provide an alternative paradigm for understanding behavior and organization. Despite the increased sophistication and vast access to data, modern theories and empirical methods have yet to focus adequately on developing fundamental methods for advancing policy analysis through the nature, causes and consequences paradigm. This assessment points to promising avenues for future research. Two such areas singled out for further attention are black hole economics and the coevolution of specialization and economic development.

Keywords: Farmer behavior; agricultural organization; development policy; new institutional economics; specialization; black-hole economics (search for similar items in EconPapers)
JEL-codes: B41 B52 O12 O13 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2014-07
New Economics Papers: this item is included in nep-agr, nep-his and nep-hme
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