Alternative Routes to Development

Hollis Chenery, Jeffrey Lewis, Jaime de Melo and Sherman Robinson

Chapter 9 in Modeling Developing Countries' Policies in General Equilibrium, 2015, pp 179-215 from World Scientific Publishing Co. Pte. Ltd.

Abstract: UP TO NOW, our analysis has focused on real activity in the economy and its implications for aggregate growth, factor accumulation, resource allocation, productivity growth, and changes in the structure of production and of demand. The role of market mechanisms and of relative prices in determining resource allocation and structural change has been left in the background. Yet in mixed economies, the policy instruments that are designed to promote development work through markets and prices. In this chapter, therefore, we explicitly consider how market mechanisms and relative prices affect industrialization under different development strategies…

Keywords: Applied General Equilibrium Models; Trade Policy; Computable General Equilibrium; Archetypes (search for similar items in EconPapers)
Date: 2015
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