RESEARCH NOTES – CATCH-UP GROWTH: Finding a Trigger

Shahrukh Rafi Khan*

Pakistan Journal of Applied Economics, 2019, vol. 29, issue 1, 131-148

Abstract: After heuristically explaining the social and economic process of catch-up growth, a case is made for effective government rather than ‘good government’. The case is made that corruption is not necessarily a valid theory of underdevelopment. After briefly exploring the various approaches to economic development, potential triggers for effective government for catch-up growth are considered. By drawing on evidence of past catch-up growth episodes in East Asia, it is suggested that they may be explained by a synthesis of the basic human needs (equity) and “new developmentalist/ neo-structuralist†approaches. What is ‘new’ in new developmetalism and how a broader view of equity can play into it are explained. The construction of a proposed equity index could help in exploring the significance of equity as a trigger for catch-up growth.

Date: 2019
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