Economics of Development (Sixth Edition) by Dwight H. Perkins

By Dwight H. Perkins

Economics of Development is popular for its accessibility and emphasis at the real-world views of constructing nations, utilizing concrete empirical facts and case reports to demonstrate key concepts.

Integrating new insurance of recent progress and human assets concept all through and with 5 totally new chapters, the 6th variation represents the main wide revision of this vintage textual content to this point.

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Extra info for Economics of Development (Sixth Edition)

Sample text

Primary school enrollment became nearly universal in middle-income economies and rose substantially in most of the low-income countries. With few exceptions, more than three-quarters of eligible children attend primary school in poor countries. Despite this good news, more than 1 billion people in the developing world continue to live in extreme poverty. The study of economic development is not mainly a review of what has and has not been accomplished in the past. It is a field concerned most of all with the future, particularly the future of the least-advantaged people in the world.

In most developing countries, a large number of activities do not enter the market. Much of what is produced by the agricultural sector is consumed by the farm household and never exchanged in the marketplace. To not include this production would seriously underestimate a nation’s GDP. The usual practice is to include estimates from sample surveys of farm output consumed by the producer, which are then valued at the prices of marketed farm produce. This is done, for example, in Moldova and even includes the output of household garden plots.

Life expectancy for Ukrainian men was 66 years in 1989 but fell to 62 years by 1995. In 2009, it was still lower than two decades earlier, at 64 years. Ukrainians had hoped that after independence foreign investment would flow into their country. It did not. Foreigners looked at Ukraine’s situation and found existing technology backward, products of poor quality, and corruption rife. Instead of foreign purchase of factories, company officials often stripped factories of whatever assets they 8 [CH.

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