World Economic Development

The transformation of the world economy in the course of the twentieth century would have been impossible for even the most acute observer living in 1900 to forecast or perhaps even to imagine. Output per capita, the structure of production, and the domestic and international financial systems that sustained the growth of economic activity over this period have been altered almost beyond recognition. This book provides an overview of some of these changes, the connections between then, and the major policy implications. Any account of these profound changes is, by necessity, selective. The discussion focuses in three broad interrelated areas. This book provides deep insight into various dimensions of issues relating to the subject.