Developmental Economics: Theory and Practice

The branch of economics that delves into the development process in low-income countries through investigations into the methods of promoting economic development, growth and structural change is called developmental economics. This field is crucial for the formulation of policies and practices at domestic and international levels. A combination of quantitative and qualitative methods is used in this process. These may involve the use of mathematical methods such as inter-temporal optimization for project analysis and restructuring market initiatives. Some prominent developmental economics theories are international dependence theory, mercantilism, neoclassical theory, post-WWII theories, structural change theory and economic nationalism. This book studies, analyzes and upholds the pillars of developmental economics and its utmost significance in modern times. It also elucidates the concepts and innovative models around prospective developments with respect to this field. It will help the readers in keeping pace with the rapid changes in this area of study.