Journal Article

Development economics in retrospect and prospect

Paul Collier

in Oxford Review of Economic Policy

Published on behalf of The Oxford Review of Economic Policy Ltd

Volume 31, issue 2, pages 242-258
Published in print January 2015 | ISSN: 0266-903X
Published online October 2015 | e-ISSN: 1460-2121 | DOI: https://dx.doi.org/10.1093/oxrep/grv013
Development economics in retrospect and prospect

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  • History of Economic Thought (1925 onwards)

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Development economics has changed radically since 1990. The very concept of ‘developing countries’ has become antiquated as most previously poor countries have converged on rich ones, becoming less distinctive in consequence. The remaining domain of a distinctive development economics is the minority of poor countries that are not securely on a path to convergence. In addition, intellectual fashions have radically shifted. The previous focus on macro-structural issues has given way to new economic geography, quantitative empiricism, and new political economy, with considerable opportunities for economic psychology.

Keywords: development; new economic geography; new political economy; identity economics; O10; B29

Journal Article.  8973 words. 

Subjects: Economic Development ; History of Economic Thought (1925 onwards)

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