Economic Development

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This best-selling text maintains its unique problem- and policy-oriented approach to development economics. Extensively revised and updated, it reflects the latest research and data, making it the most comprehensive and current text in the field. The new edition includes a chapter linking environmental issues with development challenges and another addressing critical issues of the 1990s, such as the economic transitions in the former USSR and Eastern Europe, the crisis in sub-Saharan Africa, and the effects of globalization. It features eighteen new country-specific case studies—one at the end of each chapter—and four new comparative case studies at the end of each part. The text offers extensive new analyses on essential topics, including women and development, new growth theory, the U.N.'s Human Development Index, macroeconomic instability, the future of the debt crisis, and the dynamics between lenders and borrowers. It discusses emerging regional trading blocs, the evolution of multinational corporations into "global factories," market reforms, the role of the state, and the costs and benefits of market liberalization. Additionally, it examines the impact of military expenditures on economic development. A casebook, keyed to the text and authored by Stephen C. Smith from George Washington University, is also available.