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| Ranis, Gustav. |
| Arthur Lewis seminal 1954 paper and its emphasis on dualism appeared at a time when neither the work of Keynes or Harrod-Domar nor the later neoclassical production function of Solow seemed relevant for developing countries. As a consequence, his model, rooted in the classical tradition, plus its many extensions, generated an extensive literature at the center of development theory. The approach also encountered increasingly strong criticism, some of the red herring variety, but some, spearheaded by neoclassical microeconomists like Rosenzweig, also raised serious challenges, focused especially on its labor market assumptions. This paper reviews this landscape and asks what theoretical or policy relevance the Lewis model retains for todays developing... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Development theory; Dualism; Labor markets; International Development; O11. |
| Ano: 2004 |
URL: http://purl.umn.edu/28410 |
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| Ranis, Gustav. |
| The labor surplus economy model has as its basic premise the inability of unskilled agricultural labor markets to clear in countries with high man/land ratios. In such situations, the marginal product of labor is likely to fall below a bargaining wage, related to the average rather than the marginal product. The reallocation of such disguisedly unemployed workers by means of balanced intersectoral growth ultimately permits the entire economy to operate on neo-classical principles. Finally, the paper introduces open economy dimensions, indicates the existence of other labor surplus sub-sectors and briefly responds to neo-classical critiques on both theoretical and empirical grounds. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Development theory; Labor markets; Labor and Human Capital; O10; O12; O17. |
| Ano: 2004 |
URL: http://purl.umn.edu/28480 |
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| Ranis, Gustav. |
| This paper makes an effort to trace the course of development thinking and associated development policy over the past six decades. Section I focuses on the early Post-War Consensus, with theory focused on extensions of classical dualism theory and policy concentrating on creating the pre-conditions for development. Section II traces the increasing awareness of the role of prices, a diminishing reliance on the developmentalist state and an increased reliance on structural adjustment lending associated with IFI conditionality. Section III illuminates the search for silver bullets which can be identified as key to the achievement of success. Finally, Section IV presents the authors assessment of where we are now and where we will, or should be, heading in... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Development theory; Development policy; International Development; O11; O20. |
| Ano: 2004 |
URL: http://purl.umn.edu/28528 |
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