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Chapter Six. The Economic Theory of the Developmental State by Ha-Joon Chang is a book available to read on EtoBox.

What is Chapter Six. The Economic Theory of the Developmental State about?

The idea that the state should play a leading role in economic develop¬ ment was central to early development economics.1 The "Big Push" the¬ ory of industrialization put forward by Paul Rosenstein-Rodan and Tibor Scitovsky accorded a crucial role to the state in the developmental process as the coordinator of complementary investment decisions.2 Alexander Gerschenkron constructed his theory of late development around the increasing need for state involvement in industrial financing that arises from the continuous increase in the minimum efficient scale of production owing to the nature of modern technical progress. \* Paul Baran identified the absence of such a nationalistic developmental state as found in early capitalist Europe or Meiji Japan as the major cause for the underdevelopment of many poor countries.4 Gunnar Myrdal argued 1. Of course, the idea was not invented by early development economics of the 1950s and the 1960s. A similar view on the role of the state had been proposed by the German his¬ torical school, represented by Friedrich List, who in turn was influenced by the American economists of the eighteenth century such as Alexander Hamilton.

Author

Ha-Joon Chang

Published

2019

Language

EN