Seminar Selected Topics in Development Economics General

School of Economic Disciplines
Chair for European Economic Policy
Dr. Lars-H. Siemers, Vertr.prof.
Summer Term 2014
Seminar
Selected Topics in Development Economics
Development Economics, in a classical sense, is trying to understand issues of why
certain economies are underdeveloped and impoverished, why there is child labour, corruption, a lack of human and physical capital, of good quality institutions, or of democracy
etc. pp. After understanding the issues in a purely economic or political-economic framework, economists try to oer strategies of overcoming these problems of development.
Within the seminar we will discuss a fraction of the manifold interesting topics. We will
focus on questions like What are the major roots of underdevelopment or How can
poverty traps be overcome?
General Information and Prerequisites
A precondition of participation for the seminar is a successful participation in the basic
economics courses.
Hence, the seminar is only open to students in at least the third
semester. To study the selected topics in Development Economics, it is helpful to have
successfully participated in the winter-term lecture Development Economics.
This is,
however, no prerequisite to be able to participate in the seminar.
In order to pass the seminar, students must submit a term paper, present their work
in a block seminar, visit the complete seminar, and actively participate in the discussions
during the seminar.
The seminar will be held on two days.
attendance on both days is required to pass.
So note that complete
Moreover, participation in the starting
session at the beginning of the semester is compulsory, too. It is expected that at least
one empirical or theoretical paper is explained in all its details!
Supercial seminar
theses, that are solely poor topic surveys, will be evaluated bad or rejected (grade 5,0).
Grading is based on the quality of the term paper, presentation performance, and the
active participation in the block seminar. The language of the seminar is English. At the
chair's homepage you nd a guideline for writing the term paper. Participants have to
follow these guidelines in detail!
1
Registration
Students who want to apply for the seminar must write an email to
uni-siegen.de
with Seminar:
email, please provide a
benjamin.schaefer@
Development Economics in the subject line.
In this
complete ranking of the full list of topics, starting with your rst-
best preferred topic, so that we can allocate the topics by the interests of the participants;
otherwise, topics are distributed by random. The maximum number of participants is 12.
The deadline for application is
February 28, 2014.
At latest, the students receive answer and, if successful, their topic at March 15, 2014.
Then, you must ocially register for the seminar at HISPOPS-LSF; the deadline for this
ocial registration is
day!
March 29, 2014. Deregistration is only possible up to this
Note that an ocial registration, although the student did not get a topic at the
seminar, will be evaluated as 5.0 (failure), and one out of three possible tries for passing
the seminar is wasted! So do only register if you really were successful in getting a topic!
Please note that the seminar procedure has changed since winter term
2013/14: you only have three tries to pass a seminar! Non-participation after ocial
registration is evaluated as 5.0, and, thus, as one of these three tries!
Procedure of the Seminar
April 14, 2014 with the starting session, which is obligatory for
all participating students (room: H-B 6414). Students who do not show up at this rst
meeting directly fail (mark 5.0, including a loss of one out of the three tries!). The
deadline for submission of the term paper is June 17, 2014. Each student needs to hand
The seminar starts on
in two printed versions to the Chair for European Economic Policy (oces of Frau Siebel,
Lisa Schulten and Artur Grigoryan, or Benjamin Schäfer) or at the chair's post box at
the fth oor. Additionally, an electronic version (only one single le in pdf is accepted!)
must be sent to
[email protected].
The block seminar will take place in room
27, 2014, 08:30 - 20:00, respectively.
2
H-B 5411
on
June 26, 2014
and
June
Important Dates and Deadlines
Immediately
Beginning of registration
March 29, 2014
End of registration
April 14, 2014
Preliminary Session (18:00 - 20:00, room
June 17, 2014
Deadline for handing in the term paper.
June 26, 2014
Block Seminar (preliminary 08:30 - 20:00, room
June 27, 2014
H-B 6414)
H-B 5411)
Block Seminar (preliminary 08:30 - 20:00, room H-B 5411)
¸
¸
¸
General Literature

Text books on development economics, for instance:
Basu, Kashik, 2003, Analytical Development Economics, MIT Press.
Bell, Clive, 2003, Development Policy as Public Finance, Oxford University
Press.
Ray, Debraj, 1998, Development Economics, Princeton University Press.

Handbooks of Development Economics

Easterly, William, 2002, The Elusive Quest for Growth Economists' Adventures
and Misadventures in the Tropics, MIT Press.

Stiglitz, Joseph E., 2006, Making Globalization Work, W.W. Norton.
[German
version: Die Chancen der Globalisierung]
Topics
Below you nd the 12 topics of the seminar.
For each topic some literature hints are
given. These hints are not substituting the compulsory literature research: the literature
search is one of the major tasks to be performed by the students!
3
1
Types of Poverty Traps the vicious circle of poverty

Matsuyama, K., 1991, Increasing Returns, Industrialization, and Indeterminacy of
Equilibrium, Quarterly Journal of Economics 106: 617-650.

Murphy, Shleifer, and Vishny, 1989, Industrialization and the Big Push, Journal
of Political Economy 97(5): 1003-1026.

Nelson, R., 1956, A Theory of the Low-Level Equilibrium Trap in Underdeveloped
Economies, American Economic Review 46: 894-908.

Nurkse, R., 1953, Problems of Capital Formation in Underdeveloped Countries.
Oxford University Press, New York.

Kremer, 1993, The O-Ring Theory of Economic Development, Quarterly Journal
of Economics 108(3): 551-575.

Galor and Zeira, 1993, Income Distribution and Macroeconomics, Review of Economic Studies 60: 35-52.

Young, A., 1928, Increasing Returns and Economic Progress, The Economic Journal 38: 527-542.
2
Dutch Disease, Resource Curse, and Paradox of Plenty

Auty, Richard M., 2010, Elites, Rent-Cycling and Development: Adjustment to
Land Scarcity in Mauritius, Kenya and C
ote d'Ivoire, Development Policy Review
28(4): 411-433.

Davis, Graham A., 1995, Learning to love the Dutch disease: Evidence from the
mineral economies, Journal of Development Economics 23(10): 1765-1779.

Cavalcanti, Tiago, Kamiar Mohaddes and Mehdi Raissi, 2011, Does Oil Abundance
Harm Growth?, Applied Economics Letters 18(12): 1181-1184.

Corden, W. M., 1984, Booming Sector and Dutch Disease Economics: Survey and
Consolidation, Oxford Economic Papers, New Series, 36(3): 359-380.

Djankov, S., J. G. Montalvo and M. Reynal-Querol, 2008, The curse of aid, Journal
of Economic Growth 13 (3): 169-94.
4

Gylfason, T., 2001, Natural resources, education, and economic development, European Economic Review 45(4-6): 847-59.

Krugman, Paul, 1987, The narrow moving band, the Dutch disease, and the competitive consequences of Mrs. Thatcher: Notes on trade in the presence of dynamic
scale economies, Journal of Development Economics 27(1-2): 41-55.

Norman, C. S., 2009, Rule of Law and the Resource Curse, Environmental and
Resource Economics 43(2): 183-207.

Sachs, Jerey D. and Andrew M. Warner, 1995, Natural Resource Abundance and
Economic Growth, NBER Working Papers 5398.

Sala-i-Martin, Xavier and Arvind Subramanian, 2003, Addressing the Natural Resource Curse: An Illustration from Nigeria, Economics Working Papers 685, Department of Economics and Business, Universitat Pompeu Fabra.

Torvik, Ragnar, 2001, Learning by doing and the Dutch disease, European Economic Review 45(2): 285-306.

Younger, Stephen D., 1992, Aid and the Dutch disease: Macroeconomic management when everybody loves you, World Development 20(11): 1587-1597.
3
Institutions and Development

Acemoglu, Daron, 2006, A Simple Model of Inecient Institutions, Scandinavian
Journal of Economics 108(4): 515-546.

Acemoglu, Daron and James A. Robinson, 2000, Why Did the West Extend the
Franchise? Democracy, Inequality, and Growth in Historical Perspective, Quarterly
Journal of Economics 115(4): 1167-1199.

Acemoglu, Daron and James A. Robinson, 2008, Persistence of Power, Elites, and
Institutions, American Economic Review 98(1): 267-293.

Acemoglu, Daron and James Robinson, 2010, The Role of Institutions in Growth
and Development, Review of Economics and Institutions 1(2), Article 1.

Acemoglu, Daron and Simon Johnson, 2005, Unbundling Institutions, Journal of
Political Economy 113(5): 949-995.
5

Acemoglu, Daron, Georgy Egorov, and Konstantin Sonin, 2010, Political Selection
and Persistence of Bad Governments, Quarterly Journal of Economics 125(4): 15111575.

Acemoglu, Daron, S. Johnson, and James A. Robinson, 2001, The Colonial Origins of Comparative Development: an Empirical Investigation, American Economic
Review 91(5): 1369-1401.

Gersbach, Hans and Lars Siemers, 2012, Can Democracy Overcome Poverty?
A
Constitutional Perspective, Public Choice, in press. Download:
http://sites.google.com/site/lhsiemers/home/publications

Knack, Stephen and Philip Keefer, 1995, Institutions and Economic Performance:
Cross-Country Tests Using Alternative Institutional Measures, Economics and Politics 7(3): 207-227.

Paldam, Martin and Erich Gundlach, 2008, Two Views on Institutions and Development: The Grand Transition vs. the Primacy of Institutions, Kyklos 61(1):
65-100.

Rodrik, D., A. Subramanian, and F. Trebbi, 2004, Institutions Rule: the Primacy
of Institutions over geography and Integration in Economic Development, Journal
of Economic Growth 9(2): 131-165.
4
Corruption: greasing the wheel or harmful?

Easterly, William, 2002, Corruption and Growth, in: Easterly (ed.), The Elusive
Quest for Growth, MIT Press: 241-253.

Ehrlich, J., and F. T. Lui, 1999, Bureaucratic Corruption and Endogenous Economic Growth, Journal of Political Economy 107: 270-293.

Dreher, Axel and Thomas Herzfeld, 2008, The Economic Costs of Corruption:
A Survey of the Empirical Evidence, in:
ruption:
F.N. De Luca (Ed.), Economic Cor-
Detection, Costs and Prevention, chapter 4, Nova Science.
Download:
http://www.uni-goettingen.de/de/document/download/
ec48fbe22f7a6c6d3abbae76617cae41.pdf/0506001.pdf

Dreher, Axel, Christos Kotsogiannis and Steve McCorriston, 2007, Corruption
around the World:
Evidence from a Structural Model, Journal of Comparative
6
Economics 35(3): 443-466. Download:
http://129.3.20.41/eps/pe/papers/0406/0406004.pdf

Ho, Karla and Joseph E. Stiglitz, 2005, The Creation of the Rule of Law and
the Legitimacy of Property Rights: The Political and Economic Consequences of a
Corrupt Privatization, Policy Research Working Paper No. 3779, The World Bank.

Mauro, P., 1995, Corruption and Growth, Quarterly Journal of Economics 110(3):
681-712.

Mauro, P., 1997, The Eects of Corruption on Growth, Investment and Government
Expenditure: a Cross-Country Analysis, in: K. A. Elliott (ed.), Corruption and
the Global Economy. Institute for International Economies, Washington, D.C.

Mauro, P., 1998, Corruption and the Composition of the Government Expenditure,
Journal of Public Economics LXIX: 263-279.

Mauro, P., 2002, The Persistence of Corruption and Slow Economic Growth, Working Paper 02/213, International Monetary Fund (IMF), Washington.

Saha, B., 2001, Red Tape, Incentive Bribe and the Provision of Subsidy, Journal
of Development Economics 65: 113-133.

Shleifer, A., and R. W. Vishny, 1993, Corruption, Quarterly Journal of Economics
108(3): 599-617.

5
Tavares, J., 2003, Does Foreign Aid Corrupt?, Economic Letters 79(1): 99-106.
Is debt relief a good form of development aid?

Cassimon, Danny and Bjorn Van Campenhout, 2007, Aid Eectiveness, Debt Relief
and Public Finance Response: Evidence from a Panel of HIPC Countries, Review
of World Economics 143(4): 742-763.

Cordella, Tito, Giovanni Dell'Ariccia and Kenneth M. Kletzer, 2003, Conditional
Aid, Sovereign Debt, and Debt Relief, IMF, mimeo.

Daseking, Christina and Robert Powell, 1999, From Toronto Terms to the HIPIC
Initiative: A Brief History of Debt Relief for Low-Income Countries, IMF Working
Paper 99/142.
7

Depetris Chauvin; Nicolas M. and Aart Kraay, 2005, What Has 100 Billion Dollars
Worth of Debt Relief Done for Low-Income Countries?, mimeo.

Easterly, William, 2002, How did Highly Indebted Poor Countries Become Highly
Indebted?
Reviewing Two Decades of Debt Relief, World Development 30(10):
1677-1696.

Easterly, William, 2002, Forgive us our Debts, in:
Easterly (ed.), The Elusive
Quest for Growth, MIT Press: 123-139.

Hepp, Ralf, 2005, Health Expenditures under the HIPC Debt Initiative, University
of California, Davis, mimeo.

Policy and Operations Evaluation Department, Netherlands Ministry of Foreign
Aairs, 2003, Results of International Debt relief, 1990-1999, IOB Evaluations 292.

Michaelowa, Katharina, 2003, The political economy of the enhanced HIPC-Initiative,
Public Choice 114: 461-476.

Moss, Todd, 2006, Will Debt Relief Make a Dierence? Impact and Expectations
of the Multilateral Debt Relief Initiative, Center for Global Development Working
Paper No. 88.

Morrissey, Oliver, 2001, Pro-Poor Conditionality for Aid and Debt Relief in East
Africa, CREDIT Research Paper 01, 15.

Sturzenegger, Federico and Jeromin Zettelmeyer, 2006, Creditors Losses Versus Debt
Relief: Results from a Decade of Sovereign Debt Crises, mimeo.
6
Exchange Rate, Capital Controls, and Development

Aghion, Philippe, Philippe Barcchetta, Romain Ranciere, and Kenneth Rogo,
2009, Exchange rate volatility and productivity growth:
The Role of Financial
Development, Journal of Monetary Economics 56: 494-513.

Chang, Roberto and Andr
es Velasco, 2000, Exchange-Rate Policy for Developing
Countries, American Economic Review 90(2): 71-75.

Dreher, Axel and Lars Siemers, 2009, The Nexus between Corruption and Capital
Account Restrictions, Public Choice 140(1-2): 245-265. Free Access:
http://www.springerlink.com/content/n054135h32t83021/fulltext.pdf
8

Edwards, Sebastian, 1989, Exchange Rate Misalignment in Developing Countries,
World Bank Research Observer 4(1): 3-21.

Edwards, Sebastian, 1999, How Eective are Capital Controls?, Journal of Economic Perspectives 13(4): 65-84.

Glick, Reuven and Michael Hutchison, 2005, Capital controls and exchange rate
instability in developing economies, Journal of International Money and Finance
24(3): 387-412.

Grilli, Vittorio and Gian Maria Milesi-Ferretti, 1995, Economic Eects and Structural Determinants of Capital Controls, Sta Papers International Monetary
Fund 42(3): 517-551.

Husain, Aasim M., Ashoka Mody, and Kenneth S. Rogo, 2005, Exchange rate
regime durability and performance in developing versus advanced economies, Journal of Monetary Economics 52(1): 35-64.

Johnston, R. Barry and Tamirisa, Natalia T., 1998, Why Do Countries Use Capital
Controls?, IMF Working Paper 98/181.
Available at SSRN: http://ssrn.com/abstract=883936

Lin, Shu and Haichun Ye, 2011, The role of nancial development in exchange rate
regime choices, Journal of International Money and Finance 30(4): 641-659.

Poirson, H
elene, 2001, How Do Countries Choose Their Exchange Rate Regime?,
IMF Working Papers 01/46. Available at SSRN: http://ssrn.com/abstract=1445780
7
Inequality and Development

Aghion, P., E. Caroli, and C. Garc
ia-Pen
alosa, 1999, Inequality and Economic
Growth: The Perspective of the New Growth Theories, Journal of Economic Literature XXXVII(4): 1615-1660.

Alesina, Alberto and Dani Rodrik, 1994, Distributive Politics and Economic Growth,
Quarterly Journal of Economics 109: 465-490.

Dasgupta, P., and D. Ray, 1986, Inequality as a Determinant of Malnutrition and
Unemployment: Theory, Economic Journal 96(384): 1011-1034.
9

Dasgupta, P., and D. Ray, 1987, Inequality as a Determinant of Malnutrition and
Unemployment: Policy, Economic Journal 97(385): 177-188.

Deininger, K., and P. Olinto, 2000, Asset Distribution, Inequality, and Growth,
Working Paper 2375, The World Bank, Washington D.C.

Deininger, K. and L. Squire, 1998, New Ways of Looking on Old Issues: Inequality
and Growth, Journal of Development Economics 57: 259-287.

Eicher, T. S., and C. Garc
ia-Pen
alosa, 2001, Inequality and Growth:
the Dual
Role of Human Capital in Development, Journal of Development Economics 66:
173-197.

Galor, O., and J. Zeira, 1993, Income Distribution and Macroeconomics, Review
of Economic Studies 60: 35-52.

Lundberg, M., and L. Squire, 1999, Inequality and Growth:
Lessons for Policy
Makers, mimeo, The World Bank, Washington D.C.

Perotti, R., 1996, Income Distribution, Democracy, and Growth: What the Data
Say, Journal of Economic Growth 1: 149-187.

Persson, Torsten and Guido Tabellini, 1994, Is Inequality Harmful for Growth?,
American Economic Review 84(3): 600-621.

Saint-Paul, Gilles and Thierry Verdier, 1996, Inequality, Redistribution and Growth:
A Challenge to the Conventional Political Economy Approach, European Economic
Review 40(3-5): 719-728.

Sylwester, K., 2000, Income Inequality, Education Expenditures, and Growth,
Journal of Development Economics 63: 379-398.

Viaene, J.-M., and I. Zilcha, 2001, Human Capital Formation, Income Inequality
and Growth, Working Paper 512, Center for Economic Studies & Ifo Institute for
Economic Research (CESifo), Munich.
8
Child Labour, Human Capital, and Growth

Azariadis, C. and A. Drazen, 1990, Threshold Externalities in Economic Development, Quarterly Journal of Economics 105(2): 501-526.
10

Baland, J. and J. Robinson, 2000, Is Child Labor Inecient?, Journal of Political
Economy 108(4): 663-679.

Barham, V., R. Boadway, M. Marchand, and P. Pestieau, 1995, Education and the
Poverty Trap, European Economic Review 39(7): 1257-1275.

Basu, K., 1999, Child Labor: Cause, Consequence, and Cure, with Remarks on
International Labor Standards, Journal of Economic Literature XXXVII(3): 10831119.

Basu and Van, 1998, The Economics of Child Labor, American Economic Review
88: 412-427.

Bell and Gersbach, 2009, Child Labor and the Education of a Society, Macroeconomic Dynamics 13(2): 220-249.

Dessy, S., 2000, A Defence of Compulsive Measures against Child Labor, Journal
of Development Economics 62: 261-275.

Dessy, S., and S. Pallage, 2001, Child Labor and Coordination Failures, Journal
of Development Economics 65: 469-476.

Emerson, P. M., and A. P. Souza, 2000. Is There a Child Labor Trap? InterGenerational Persistence of Child Labor in Brazil, Working Paper 471, Cornell
University-Economics Department.

Galor and Zeira, 1993, Income Distribution and Macroeconomics, Review of Economic Studies 60: 35-52.

Gradstein, M., and M. Justman, 1997, Democratic Choice of an Education System:
Implications for Growth and Income Distribution, Journal of Economic Growth 2:
169-183.

Hazan, M., and B. Berdugo, 2002, Child Labor, Fertility, and Economic Growth,
The Economic Journal 112(482): 810-828.

Lop
ez-Calva, L. F., and L. A. Rivas, 2000, Capital Accumulation and Child Labor:
Can Compulsory Schooling be counterproductive?, mimeo.

Pritchett, L., 2001, Where Has All the Education Gone?, The World Bank Economic Review 15(3): 367-391.
11

Psacharopoulos, G., 1994, Returns to Investment in Education: A Global Update,
World Development 22: 1325-1343.

Ranjan, P., 1999, An Economic Analysis of Child Labor, Economic Letters 64:
99-105.

Ranjan, P., 2001, Credit Constraints and the Phenomenon of Child Labor, Journal
of Development Economics 64: 81-102.

Ravallion, M., and Q. Wodon, 2000, Does Child Labour Displace Schooling? Evidence on Behavioural Responses to an Enrollment Subsidy, The Economic Journal
110: C158-C175.

Redding, S. 1996, Low-Skill, Low-Quality Trap: Strategic Complementarities between Human Capital and R&D, The Economic Journal 106(435): 458-470.

Swaminathan, M., 1998, Economic Growth and the Persistence of Child Labor:
Evidence from an Indian City, World Development 28(8): 1513-1528.

Temple, J. R., 2001, Heterogeneity and the Growth Process Generalizations that
Aren't?
Evidence on Education and Growth, European Economic Review 45:
905-918.
9
Land Reforms

Banerjee, A., 1999, Land Reforms: Prospects and Strategies, Working Paper 9924, Massachusetts Institute of Technology (MIT), Department of Economics.

Besley, T., and R. Burgess. 2000, Land Reform, Poverty Reduction, and Growth:
Evidence from India, Quarterly Journal of Economics 115(2): 389-430.

Deininger, K., P. Olinto, and M. Maertens, 2000, Redistribution, Investment, and
Human Capital Accumulation: The Case of Agrarian Reform in the Philippines,
The World Bank, Washington, D.C. Download:
http://orion.forumone.com/ABCDE/les.fcgi/209 deininger.pdf

D
iaz, A., 2000, On the Political Economy of Latin American Land Reforms, Review of Economic Dynamics 3: 551-571.

Gersbach, Hans and Lars Siemers, 2010, Land Reforms and Economic Development, Macroeconomic Dynamics 14(4): 527-547.
12

Gersovitz, M., 1976, Land Reform: Some Theoretical Considerations, Journal of
Development Studies 13(October): 79-91.

Horowitz, A. W., 1993, Time Paths of Land Reform:
A Theoretical Model of
Reform Dynamics, American Economic Review 83(4): 1003-1010.

Waeterloos, E., and B. Rutherford, 2004, Land Reform in Zimbabwe: Challenges
and Opportunities for Poverty Reduction Among Commercial Farm Workers, World
Development 32(3): 537-553.
10

Micronance and Development
Cabraal, Anuja, Roslyn Russell and Supriya Singh, 2006, Micronance: Development as Freedom. Download: http://mams.rmit.edu.au/36ym1jz2mrqez.pdf

Cull, Robert, Asli Demirguc-Kunt, and Jonathan Morduch, 2009, Micronance
Meets the Market, Journal of Economic Perspectives 23(1): 167-92.

Karlan, Dean S., and Jonathan Zinman, 2008, Credit Elasticities in Less-Developed
Economies: Implications for Micronance, American Economic Review 98(3): 104068.

Morduch, J., 1999, The Micronance Promise, Journal of Economic Literature
XXXVII(4): 1569-1614.

Morduch, J., 2000, The Micronance Schism, World Development 28(4): 617-629.

Navajas, Sergio, Mark Schreiner, Richard L. Meyer, Claudio Gonzalez-vega, Jorge
Rodriguez-meza, 2000, Microcredit and the Poorest of the Poor: Theory and Evidence from Bolivia, World Development 28(2): 333-346.

Robinson, M. S., 1996, Addressing some key questions on nance and poverty,
Journal of International Development 8(2): 153-161.

Stiglitz, Joseph E., 1990, Peer Monitoring and Credit Markets, World Bank Economic Review 4(3): 351-366.

Vogelgesang, U., 2003, Micronance in Times of Crisis: The Eects of Competition, Rising Indebtedness, and Economic Crisis on Repayment Behavior, World
Development 31(12): 2085-2114.
13
11

The Industrial Revolution: Lessons to Learn I
Clark, Gregory, 2005, Human Capital, Fertility, and the Industrial Revolution,
Journal of the European Economic Association 3(2-3): 505-515.

Crafts, N. F.R. and C. K. Harley, 1992, Output growth and the British industrial
revolution: a restatement of the Crafts-Harley view, The Economic History Review
45(4): 703-730.

De Vries, Jan, 1994, The Industrial Revolution and the Industrious Revolution,
Journal of Economic History 54: 249-270.

Feinstein, C. H., 1981, Capital Accumulation and the Industrial Revolution, in:
R. Floud, and D. N. McCloskey (eds.), The Economic History of Britain Since 1700,
vol. I: 1700-1860. Cambridge University Press.

Johns, Charles I., 2001, Was an industrial revolution inevitable? Economic growth
over the very long run, The B.E. Journals in Macroeconomics, Advances in Macroeconomics 1(2), Article 1.

Johnson, D. Gale, 1997, Agriculture and the Wealth of Nations, American Economic Review 87(2): 1-12.
12

The Asian Growth Miracles: Lessons to Learn II
Lee, Maw-Lin, Ben-Chieh Liu, and Ping Wang, 1994, Education, Human Capital
Enhancement and Economic Development:
Comparison between Korea and Tai-
wan, Economics of Education Review 13 (4): 275-288.

Li, K. T., 1988, The evolution of policy behind Taiwan's development success, Yale
University Press.

Rodrik, Dani and Arvind Subramanian, 2005, From Hindu-Growth to Productivity
Surge: The Mystery of the Indian Growth Transition, IMF Sta Papers 52(2): 193228.

Tallman, Ellis W. and Ping Wang, 1994, Human capital and endogenous growth:
Evidence from Taiwan, Journal of Monetary Economics 34 (1): 101-124.
14

Young, Alwyn, 1995, The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience, Quarterly Journal of Economics 110
(3): 641-680.

World Bank, 1993, The East Asian Miracle, Oxford University Press.
15

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