The Quest for Prosperity
How Developing Economies Can Take Off - Updated Edition
by:
Justin Yifu Lin
Summary:
The book presents a framework for understanding economic development, advocating for a pragmatic approach that considers a country's comparative advantage and the role of government in facilitating structural transformation. It analyzes historical growth patterns and offers policy recommendations for developing nations to achieve sustainable prosperity.
Key points:
1. New Structural Economics (NSE): Justin Yifu Lin's NSE is a development framework that says as countries get richer, their production and jobs must change. It focuses on using a country's resources, people, and capital to guide economic policies.
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