Economic development in Books & Magazines

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Despite strong U.S. and Canadian economies, economic development remains an important local governmental function, partly to alleviate the persistent poverty that plagues some areas and partly to compete with the activities of neighboring local governments. Those cities, metropolitan areas, rural regions, and states that do not plan effectively lose the battle for economic survival. Local economic development has become a complex and challenging field, with increasing numbers of planners specifically trained for the task. Providing a useful guide for planners and students of planning, this revised and updated edition of Lyons and Hamlin's 1990 book offers a framework for formulating an economic development plan for a local community and explains several emerging strategies.

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The premise of this book is that the puzzles of economic development and post-communist transitions can be illuminated by a serious economic analysis of institutions. Economic performance is strongly dependent on the economic policies selected and on the manner in which these policies are implemented by government agencies. Performance also depends on property rights and contract enforcement mechanisms in the business community, and patterns of participation in community organizations. These and other institutional arrangements are analyzed in this book under the rubric of the New Institutional Economics. Christopher Clague brings together a distinguished group of economists and political scientists to address the determinants and consequences of international differences in economic and political institutions. After reviewing the intellectual landscape of the New Institutional Economics and other contributions, the authors present new evidence that international differences in property rights and contract enforcement help to explain differences in income, investment, and growth.

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Growth and development are among the most exciting subjects in economics, and the application of their principles to African economies is both needed and timely. African Economic Development comprises a collection of articles written especially for this volume, which offer an authoritative statement about economic growth and development on the continent. Chapters are grouped together according to the major influences on growth and development and their effects, as well as the significant or unique problems which have slowed or undermined African growth, and the manifestations of development by country or region and by industry. While many books on regional economics become quickly outdated and overly narrow, these multidisciplinary regional studies with an economic bias will be considered cornerstones of the field for some years to come.

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This immensely readable book by Patrick François provides an original insight into the increasingly fashionable topic that is social capital.
In a unique, original book, the author emphasises trustworthiness as a vital feature of social capital and argues that standard economic treatments of this phenomenon are inadequate. This book's richer evolutionary treatment of this is embedded in a neoclassical model and will prove to be essential reading for economic development scholars as well as those interested in development studies and economic thought in general.

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Entrepreneurship is a key factor in economic development. It determines how quickly and accurately an economic system identifies and responds to the profit opportunities inherent in disequilibrium situations.
This well-written book is the first to deal with entrepreneurship in all its aspects. It considers the economic, psychological, political, legal and cultural dimensions of entrepreneurship from a market-process perspective. David A Harper has produced a volume that analyses why some people are quicker than others in discovering profit opportunities. Importantly, the book also covers the issue of how cultural value systems orient entrepreneurial vision and in contrast to conventional wisdom, the book argues that individualist cultural values are not categorically superior to group oriented values in terms of their consequences for entrepreneurial discovery.
This stimulating and original book will be of great interest to development and market economists as well as their students. The policy implications for economic institutions that Harper concludes with will also make the book important reading for those working in the public sector.

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