Prologue
An Intriguing Offer
Strange Childhood Memories from Africa
1 New Challenges and New Solutions
The Bane of Excess Capacity
The Apparent Mystery Capacity
Taking Einstein''s Joke Seriously: A New Structural Economics
2 A Battle of Narratives and Changing Paradigms
Giving meaning to one''s Life
The Evolution of Growth
Deciphering the Mystery of Poverty and Wealth
Robert Lucas and Drycleaner''s Daughter
Explaining Convergence and Divergence
Development Thinking: A Tale of Progress, Waves, Fads, and Fashion
The Frustrating Search for New Answers
The Need for New Strategic Thinking
3 Economic Development: Lessons from Failures
Viability as the Hidden Ingredient to Economic Success
The Political Economy of Dreams and Ignorance
"Do Not Look Where You Fell but Where You Slipped"
Not Trowing the Baby Out with the Bathwater
4 Lessons from Successful Catch-up Countries
Squaring the Circle: The Contribution of The Growth Report
Recognizing That Some Countries May Found the Holy Grail
Modern Economic Growth: The Secret of Advanced Countries
5 A Framework for Rethinking Development : A New Structural Economics
Why Burundi Is Not Switzerland
Understanding Economic Development: A Conceptual Framework
The Optimal Speed and Sequencing of Prosperity
Putting New Wine in New bottles
6 What Would Be Done Differently under the New Structural Economics?
Fiscal Policy: Free Airplanes, Railroads, and Birdges?
Money to Impoverish-or Money to Enrich
Surviving Wealth: Public Revenue Management in Resource-Rich Countries
Financial Development: Those Bankers We Love to Hate
The Need for Poor Countries to Choose Their Type of Foreign Capital
Sorting Out the Paradoxes of Human Development
7 Putting the New Structural Economics into Practice: Two Tracks and Six Steps
To Identify of Not to Identify: That Is the Question
How to Identify Industries with Latent Comparative Advantages: A Few principles
A Practical Guide for Sequencing Structural Transformation
8 The Peculiar Identities and trajectories of Transition Economies
Imaginary Confessions in Heaven: The Polotics of Reforms
Back to Earth: The Economics of Multiple Distortions
Options for Economic Reform: Big Bang of Gradualism?
Thriving Transitions: Lessons from China, Slovenia, and a Few other Countries
9 Fostering Structural Change at Higher Levels of Development
Fighting Off the Middle-Income Curse
Keeping Pace with the Times
GIF Principles and Continued Structural Transformation
Understanding the Economics of Wealth and Greatness
10 A Recipe for Economic Prosperity
Understanding the True Nature and Causes of Economic Development
Industrial Policy in Action
Being Too Cauious: The Greatest Risk of All
Glossary
Notes
References
Index
An Intriguing Offer
Strange Childhood Memories from Africa
1 New Challenges and New Solutions
The Bane of Excess Capacity
The Apparent Mystery Capacity
Taking Einstein''s Joke Seriously: A New Structural Economics
2 A Battle of Narratives and Changing Paradigms
Giving meaning to one''s Life
The Evolution of Growth
Deciphering the Mystery of Poverty and Wealth
Robert Lucas and Drycleaner''s Daughter
Explaining Convergence and Divergence
Development Thinking: A Tale of Progress, Waves, Fads, and Fashion
The Frustrating Search for New Answers
The Need for New Strategic Thinking
3 Economic Development: Lessons from Failures
Viability as the Hidden Ingredient to Economic Success
The Political Economy of Dreams and Ignorance
"Do Not Look Where You Fell but Where You Slipped"
Not Trowing the Baby Out with the Bathwater
4 Lessons from Successful Catch-up Countries
Squaring the Circle: The Contribution of The Growth Report
Recognizing That Some Countries May Found the Holy Grail
Modern Economic Growth: The Secret of Advanced Countries
5 A Framework for Rethinking Development : A New Structural Economics
Why Burundi Is Not Switzerland
Understanding Economic Development: A Conceptual Framework
The Optimal Speed and Sequencing of Prosperity
Putting New Wine in New bottles
6 What Would Be Done Differently under the New Structural Economics?
Fiscal Policy: Free Airplanes, Railroads, and Birdges?
Money to Impoverish-or Money to Enrich
Surviving Wealth: Public Revenue Management in Resource-Rich Countries
Financial Development: Those Bankers We Love to Hate
The Need for Poor Countries to Choose Their Type of Foreign Capital
Sorting Out the Paradoxes of Human Development
7 Putting the New Structural Economics into Practice: Two Tracks and Six Steps
To Identify of Not to Identify: That Is the Question
How to Identify Industries with Latent Comparative Advantages: A Few principles
A Practical Guide for Sequencing Structural Transformation
8 The Peculiar Identities and trajectories of Transition Economies
Imaginary Confessions in Heaven: The Polotics of Reforms
Back to Earth: The Economics of Multiple Distortions
Options for Economic Reform: Big Bang of Gradualism?
Thriving Transitions: Lessons from China, Slovenia, and a Few other Countries
9 Fostering Structural Change at Higher Levels of Development
Fighting Off the Middle-Income Curse
Keeping Pace with the Times
GIF Principles and Continued Structural Transformation
Understanding the Economics of Wealth and Greatness
10 A Recipe for Economic Prosperity
Understanding the True Nature and Causes of Economic Development
Industrial Policy in Action
Being Too Cauious: The Greatest Risk of All
Glossary
Notes
References
Index