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New Structural Economics. A Framework for Rethinking Development and Policy

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New Structural Economics. A Framework for Rethinking Development and Policy

4.85 94,208 ratings · 6,464 reviews
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Overview: Economic development is a process of continuous technological innovation and structural transformation. Development thinking is inherently tied to the quest for sustainable growth strategies. This book provides a neoclassical approach for studying the determinants of economic structure and its transformation and draws new insights for development policy. The market is the basic mechanism for effective resource allocation at each level of development. However, economic development as a dynamic process entails structural changes, including industrial upgrading and diversification and corresponding improvements in hard and soft infrastructure. Such upgrading and improvements require coordination and go hand in hand with large externalities to firms' transaction costs and returns to capital investment. Thus, in addition to an effective market mechanism, the government should play an active role in facilitating structural changes. The book provides empirical evidence in support of this framework as well as concrete advice to development practitioners.'This splendid collection of essays, by one of the world's outstanding experts on economic development, puts to work a newly emerging view, which he has helped to shape, of why in recent decades some countries have prospered while others have languished. Lin's focus is on countries that were all economically underdeveloped six decades ago, but his analysis offers strong hints about future prospects of the rich world as well. His style is dispassionate and unadorned by drama, which makes the essays all the more moving and illuminating.'— Sir Partha Dasgupta, Frank Ramsey Professor Emeritus of Economics, University of Cambridge'New Structural Economics is a truly important and ambitious book. Justin Lin, with some help from other distinguished scholars, has succeeded in laying out the complex structural microeconomic dynamics of economic growth, diversification and development, and in capturing the crucial complementary roles of government as investor, regulator, coordinator of activity and expectations, and guide. All of this is set in a global economy that is itself in the midst of massive structural change. This book will become an essential reference for scholars and for policy makers not only in developing countries, but also, increasingly, in developed countries.'— Michael Spence, William R. Berkley Professor in Economics and Business,New York University Leonard N. Stern School of Business; 2001 Nobel Prize in Economics'The World Bank has long been committed to the goal of achieving a world without poverty. In this brilliant volume, its Chief Economist, Justin Yifu Lin, lays out an economic agenda for how to make this dream a reality. He argues that the successes of China can be achieved elsewhere around the world, and explains clearly and forcefully the structural transformations that will be required and the role that government can and must play in that transformation. The book will be a landmark in rethinking development. It provides an alternative to the now discredited Washington Consensus policies that guided the Bretton Woods Institutions for years. Justin Lin's ideas have already stirred discussion and debate. This book will ensure that they will continue to be central in the reexamination of developmental policy.'— Joseph Stiglitz, 2001 Nobel Prize in Economics; University Professor, Columbia University

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Book details & editions

ISBN
13449653
Publisher
The World Bank
Publication date
January 6, 2012
Language
En-US
Pages
384 pages
Reading Options
PDF · EPUB · Mobi
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Justin Yifu Lin
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Justin Yifu Lin is a writer and avid reader based in the Pacific Northwest. Before pursuing writing full-time, they spent over a decade working in education. When not working on their next book, Justin Yifu Lin can usually be found hiking with their dog or trying out new coffee shops in their neighborhood.

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Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre.
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Masterpiece from start to finish. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece.
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A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading.
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I was completely blown away. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I will undoubtedly revisit this masterpiece.
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I was completely blown away. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author.
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Honestly one of the most premium reading experiences lately. The prose is exquisite. It’s accessible yet undeniably sophisticated. A true literary gem.
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I was completely blown away. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author.
Donald Moore
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Took a moment to build, but the payoff was spectacular. A brilliant concept executed with flair. Just a few pacing choices I would change. A wonderful companion for a quiet weekend.
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Honestly one of the most premium reading experiences lately. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem.
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Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. Worth every moment spent reading.
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Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece.
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Such a rich narrative. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece.
Susan Harris
Susan Harris April 23, 2024
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A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars.
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I thoroughly enjoyed the elegance of it. A brilliant concept executed with flair. Just a few pacing choices I would change. A wonderful companion for a quiet weekend.
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A highly sophisticated read. It held my rapt attention, even when certain twists were telegraphed. A wonderful companion for a quiet weekend.
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Exceeded all my expectations. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author.
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Kevin Rodriguez March 26, 2024
Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece.
Eric Edwards
Eric Edwards August 19, 2025
Excellent, though slightly flawed. It held my rapt attention, even when certain twists were telegraphed. A very distinguished novel.
David Clark
David Clark July 08, 2024
A very strong entry. The middle had a deliberate pace, but the climax was phenomenal. Quite impressive overall.
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Thomas Campbell July 03, 2025
I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author.
Amanda Baker
Amanda Baker November 08, 2025
Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I will undoubtedly revisit this masterpiece.
Jessica Johnson
Jessica Johnson October 06, 2024
It was adequate. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Perhaps more aligned with a different audience's tastes.
Eric Lopez
Eric Lopez June 20, 2024
I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading.
Dorothy King
Dorothy King April 24, 2025
Such a rich narrative. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An absolute must-read for connoisseurs of the genre.
Jessica Harris
Jessica Harris August 08, 2025
Masterpiece from start to finish. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading.
Paul Lewis
Paul Lewis January 07, 2024
Exceeded all my expectations. The prose is exquisite. It’s accessible yet undeniably sophisticated. Worth every moment spent reading.
Andrew Carter
Andrew Carter July 01, 2024
Honestly one of the most premium reading experiences lately. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece.
Paul Miller
Paul Miller September 03, 2025
Honestly one of the most premium reading experiences lately. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece.
Stephanie Turner
Stephanie Turner August 01, 2025
Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author.
Mary Allen
Mary Allen December 12, 2025
I thoroughly enjoyed the elegance of it. The protagonist was compelling, though some subplots felt slightly overshadowed. A wonderful companion for a quiet weekend.
Margaret Jones
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A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem.
Lisa Ramirez
Lisa Ramirez June 15, 2024
Exceeded all my expectations. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars.
Daniel Jones
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A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading.
Andrew Nguyen
Andrew Nguyen September 24, 2024
I was completely blown away. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem.
Jessica Johnson
Jessica Johnson July 02, 2025
A highly sophisticated read. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel.
Carol Collins
Carol Collins August 23, 2025
Exceeded all my expectations. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author.
Lisa Carter
Lisa Carter August 07, 2024
I was completely blown away. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading.
Paul Miller
Paul Miller February 19, 2025
Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece.
Carol Allen
Carol Allen April 28, 2024
Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars.
Andrew Robinson
Andrew Robinson April 27, 2025
Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem.