Development economics / Debraj Ray.

Includes bibliographical references and index.

Ch. 1. Introduction -- Ch. 2. Economic Development: Overview -- Ch. 3. Economic Growth -- Ch. 4. The New Growth Theories -- Ch. 5. History, Expectations, and Development -- Ch. 6. Economic Inequality -- Ch. 7. Inequality and Development: Interconnections -- Ch. 8. Poverty and Undernutrition -- Ch. 9. Population Growth and Economic Development -- Ch. 10. Rural and Urban -- Ch. 11. Markets in Agriculture: An Introduction -- Ch. 12. Land -- Ch. 13. Labor -- Ch. 14. Credit -- Ch. 15. Insurance -- Ch. 16. International Trade -- Ch. 17. Trade Policy -- Ch. 18. Multilateral Approaches to Trade Policy -- App. 1. Elementary Game Theory -- App. 2. Elementary Statistical Methods.

Debraj Ray, one of the most accomplished theorists in development economics today, presents in this book a synthesis of recent and older literature in the field and raises important questions that will help to set the agenda for future research. He covers such vital subjects as theories of economic growth, economic inequality, poverty and undernutrition, population growth, trade policy, and the markets for land, labor, and credit.

The book takes the position that there is no single cause for economic progress, but that a combination of factors - among them the improvement of physical and human capital, the reduction of inequality, and institutions that enable the background flow of information essential to market performance - consistently favor development. Ray supports his arguments throughout with examples from around the world.

The book assumes a knowledge of only introductory economics and explains sophisticated concepts in simple, direct language, keeping the use of mathematics to a minimum.