This article charts the rise and fall of the claim that development economics is a separate, independent branch of economics from neoclassical economics, from 1960 to 1980. It also traces the changes in development policy that followed the collapse of that doctrinal claim, while arguing that structural adjustment programs were not the only determinant of policy shifts in developing countries. An epilogue reflects on the influence of behavioral economics and randomized control trials on the future of economic development.
The Counterrevolution in Development Economics
John Toye is a retired professor of development economics and director of development research at the universities of Wales, Sussex, and Oxford in the United Kingdom. He also served as divisional director of the UN Secretariat in Geneva, Switzerland. His first book was Public Expenditure and Indian Development Policy (1981) and his most recent is The Many Faces of Socioeconomic Change (2017).
John Toye; The Counterrevolution in Development Economics. History of Political Economy 1 December 2018; 50 (S1): 269–285. doi: https://doi.org/10.1215/00182702-7033980
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