Contemporary Issues in Development Economics
This IEA volume brings together a set of essays written by leading authors on themes relevant to the study of economic development. The book covers a range of topics many of which are relevant to policy issues. The contributors bring new insights from emp
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RATIONALITY AND ECONOMIC BEHAVIOUR Challenging Standard Assumptions Edited by Bina Agarwal and Alessandro Vercelli MULTINATIONALS AND FOREIGN INVESTMENT IN ECONOMC DEVELOPMENT Edited by Edward M. Graham POST-CONFLICT ECONOMIES IN AFRICA Edited by Paul Collier and Augustin Kwasi Fosu STRUCTURAL REFORM AND MACROECONOMIC POLICY Edited by Robert M. Solow THE PAST, PRESENT AND FUTURE OF THE EUROPEAN UNION Edited by Alan V. Deardorff LATIN AMERICAN ECONOMIC CRISES Trade and Labour Edited by Enrique Bour, Daniel Heymann and Fernando Navajas ADVANCES IN MACROECONOMIC THEORY Edited by Jacques H, Drèze EXPLAINING GROWTH A Global Research Project Edited by Gary McMahon and Lyn Squire TRADE, INVESTMENT, MIGRATION AND LABOUR MARKET ADJUSTMENT Edited by David Greenaway, Richard Upward and Katherine Wakelin INEQUALITY AROUND THE WORLD Edited by Richard B. Freeman MONETARY THEORY AND POLICY EXPERIENCE Edited by Axel Leijonhufvud MONETARY THEORY AS A BASIS FOR MONETARY POLICY Edited by Axel Leijonhufvud ECONOMIC DEVELOPMENT IN SUBSAHARAN AFRICA Proceedings of the Eleventh World Congress of the International Economic Association, Tunis Edited by Ibrahim Elbadawi and Beno Ndula
International Economic Association Series Standing Order ISBN 978–0–3337–1242–9 (Hardback) 978–0–3338–0330–1 (Paperback) You can receive future titles in this series as they are published by placing a standing order. Please contact your bookseller or, in case of difficulty, write to us at the address below with your name and address, the title of the series and one of the ISBNs quoted above. Customer Services Department, Macmillan Distribution Ltd, Houndmills, Basingstoke, Hampshire RG21 6XS, England
Contemporary Issues in Development Economics Edited by
Timothy Besley Professor of Economics and Political Science, London School of Economics, UK
Selection and editorial matter © Timothy Besley 2016 © International Economic Association Softcover reprint of the hardcover 1st edition 2016 978-1-137-52973-2 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6–10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The authors have asserted their rights to be identified as the authors of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2016 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martins Press LLC, 175 Fifth Avenue, New York, NY 10010. Palgrave M
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