Current Issues in Development Economics
This book brings together discussion of the key contemporary issues in development economics. The chapters are specially written by well known international authors and provide a succinct survey of recent theoretical developments and the analysis of polic
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CURRENT ISSUES IN ECONOMICS General Editor: David Greenaway, University of Nottingham Vol.
Current Issues in Microeconomics Edited by John D. Hey, University of York
Vol. 2
Current Issues in Macroeconomics Edited by David Greenaway, University of Nottingham
Vol. 3
Current Issues in Labour Economics Edited by David Sapsford, University of East Anglia, and Safiris Tzannatos, University of Buckingham
Vol. 4
Current Issues in International Monetary Economics Edited by David T. Llewellyn and Chris Milner, Loughborough University
Vol. 6
Current Issues in Development Economics Edited by V. N. Balasubramanyam, University of Lancaster, and Sanjaya Lall, University of Oxford
Forthcoming Vol. 5
Current Issues in Public Sector Economics Edited by Peter Jackson, University of Leicester
Vol. 7
Current Issues in Industrial Economics
Vol. 8
Current Issues in Monetary Analysis and Policy Edited by K. Dowd and Mervyn K. Lewis, University of Nottingham
Vol. 9
Current Issues in Welfare Economics Edited by Nicholas Barr, London School of Economics, and David Whynes, University of Nottingham
Vol. 10
Current Issues in Agricultural Economics Edited by A. J. Rayner, University of Nottingham, and David R. Colman, University of Manchester
Current Issues in Development Economics Edited by V. N. Balasubramanyam Professor of Development Economics Management School Lancaster University and
Sanjaya Lall
Lecturer in Development Economics Oxford University Institute of Economics and Statistics
Macmillan Education
ISBN 978-0-333-5l324-8 ISBN 978-1-349-21587-4 (eBook) DOI 10.1007/978-1-349-21587-4 Selection and editorial matter © V. N. Balasubramanyam and Sanjaya Lall, 1991 Individual chapters © Timothy Besley and Ravi Kanbur; David Bevan, Paul Collier and Jan Willem Gunning; David Greenaway; Brian Hindley; J.B. Knight; Sanjaya Lall; Alasdair I. MacBean; Paul Mosley, A. J. Rayner and K. A. Ingersent; P. N. Snowden 1991 Softcover reprint of the hardcover 1st edition 1991 All rights reserved. For information, write: Scholarly and Reference Division, St. Martin's Press, Inc., 175 Fifth Avenue, New York, N.Y. 10010 First published in the United States of America in 1991
ISBN 978-0-312-06500-3 Library of Congress Cataloging-in-Publication Data Current issues in development economics/edited by V.N. Balasubramanyam and Sanjaya Lall. p. cm. - (Current issues in economics) Includes bibliographical references and index. ISBN 978-0-312-06500-3 1. Developing countries-Economic policy. 2. Economic development. I. Balasubramanyam, V. N. II. Sanjaya, Lall. III. Series. HC59.7.C84 1991 338.9- c:
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106
Macroeconomics of External Shocks
response to a trade shock. However, there are good grounds for suspecting that many actual effects of construction booms have been excessive because private agents have been constrained by government controls. 6.7 THE EFFECT OF GOVERNMENT CONTROLS So far, we have not distinguish
