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A New Growth Strategy for Developing Nations

Dani Rodrik, Joseph Stiglitz

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Not so long ago, the development community was brimming with optimism on the developing world’s economic prospects. Economic growth was up, extreme poverty sharply down, and there seemed to have emerged a clear consensus on the outlines of a growth strategy based on integration in the world economy. There were plenty of debates on the particulars of the strategy: the experience of China, which had engineered history’s most spectacular poverty reduction, gave ammunition to advocates of both market-oriented and more state-directed approaches to development alike. But both sides agreed that, however achieved, export-oriented industrialization was the way to go.

This consensus has been shattered by several developments. Some of these were long-time in the making.

About the Authors

Dani Rodrik
Rafiq Hariri Professor of International Political Economy
John F. Kennedy School of Government
Harvard University

Joseph Stiglitz
President
Initiative for Policy Dialogue (IPD)

Joseph E. Stiglitz is President of the Initiative for Policy Dialogue, and Chairman of the Committee on Global Thought at Columbia University. He is University Professor at Columbia, teaching in its Economics Department, its Business School, and its School of International and Public Affairs. He chaired the UN Commission of Experts on Reforms of the International Monetary and Financial System, created in the aftermath of the financial crisis by the President of the General Assembly. He is former Chief Economist and Senior Vice-President of the World Bank and Chairman of President Clinton’s Council of Economic Advisors. He was awarded the Nobel Memorial Prize in Economics in 2001.

Publication Information

Type Network Paper
Program -
Posted 03/15/24
Download 63kb docx
# Pages 17