This textbook survey is a comprehensive, systematic treatise on development economics, combining classical political economy, modern institutional theory, and development issues. The treatment is global, although the organizing principle is the East Asian development experience. Quantitative characteristics of Third World development in terms of population growth, natural resource depletion, capital accumulation, and technological change are outlined; but the central approach is comparative institutional analysis.
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Yujiro Hayami was Chairman of the Graduate Faculty at the Foundation for Advanced Studies on International Development and Professor at the National Graduate Institute of Policy Studies, Tokyo. Yoshihisa Godo is Associate Professor of Economics at Meijigakuin University and Visiting Associate Professor at the National Graduate Institute for Policy Studies, Tokyo.
Excellent texts on development economics, which offer alternative approaches to the study of this important and growing branch of economics. Lecturers will want to find room on their reading lists in the next academic year. (Nigel Grimwade, London South Bank University.)
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