Towards new developmentalism * S. Khan and J. Christiansen (eds)

Abstract

The Routledge series in development has consistently published books which offer new and critical perspectives on development economics, this collection continues the tradition. The book contains an excellent selection of articles by economists, but written to be accessible for all readers interested in development issues. The core thesis of the book is that the 2007 global crisis reveals the bankruptcy of neo-liberalism and provides the space for the emergence of a concrete alternative. The collection attempts to identify such an alternative. It distils ideas and interpretations of policy, which have largely emerged from analyses of East Asian experience, and manages to show how they are embedded in a broad framework of old style developmentalism. The collection is selected with the specific aim of identifying and labelling a theoretical and policy paradigm, which offers a real alternative to neo-liberalism. The approach is aptly named ‘New Developmentalism’ to capture its roots in the ideas of the early pioneers of economic development, Myrdal, Nurkse, Rosenstein-Rodan, Lewis, Prebisch, all of whom were concerned with the nature and role of active policies to promote institutional change and industrial growth. The focus is on development as a process not an outcome. The ‘new’ aspect arises from the insights of key writers such as Wade, Amsden, Ha-Joon Chang who incorporate the experiences of successful developing economies, particularly the HPAE’s, where the nature of state activity and its ability to both constrain and harness the market are seen as key to ensure that the market is means rather than master of the development process.