Chapter

Development

Tony Addison

in Politics in the Developing World

Fifth edition

Published on behalf of Oxford University Press

Published in print March 2017 | ISBN: 9780198737438
Published online September 2017 | e-ISBN: 9780191851001 | DOI: https://dx.doi.org/10.1093/hepl/9780198737438.003.0016
Development

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This chapter examines development policy objectives and their explicit focus on poverty reduction. It first considers different definitions of development policy objectives before discussing the roles that the market mechanism and the state should play in allocating society’s productive resources. In particular, it looks at the economic role of the state as one of the central issues dividing opinion on development strategy and explains how rising inequality led to a backlash against economic liberalization. The chapter proceeds by exploring the relationship between economic growth and poverty reduction, along with the political difficulties that arise from economic reform. It also analyses the importance of transforming the structure of economies and the new global development landscape, including changes in development finance.

Keywords: development policy objective; poverty reduction; development; market mechanism; state; inequality; economic liberalization; economic growth; economic reform; development finance

Chapter.  9490 words. 

Subjects: International Relations ; Politics of Development

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