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Justin Yifu Lin
Cambridge University Press

Economic Development and Transition: Thought, Strategy, and Viability

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AuthorJustin Yifu Lin
PublisherCambridge University Press
PublishedJun 05 2012
Book FormatHardcover
ISBN-139780521514521
Dimensions9.1 X 6 X 0.6 inches
Weight 0.9 pounds
BISAC
CategoriesBusiness & Economics > Development - Economic Development
LanguageEnglish

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Book Description

In Economic Development and Transition, renowned development economist Justin Yifu Lin argues that economic performance in developing countries depends largely on government strategy. If the government plays a facilitating role, enabling firms to exploit the economy's comparative advantages, its economy will develop successfully. However, governments in most developing countries attempt to promote industries that go against their comparative advantages by creating various kinds of distortion to protect nonviable firms in priority industries. Failing to recognize the original intention of many distortions, most governments in transition economies attempt to eliminate those distortions without addressing firms' viability problems, causing economic performance to deteriorate in their transition process. Governments in successful transition economies adopt a pragmatic dual-track approach that encourages firms to enter sectors that were suppressed previously and gives necessary support to firms in priority industries before their viability issue is addressed.

Author Bio

Justin Yifu LIN is Dean of Institute of New Structural Economics, Dean of Institute of South-South Cooperation and Development and Professor and Honorary Dean of National School of Development at Peking University. He was the Senior Vice President and Chief Economist of the World Bank, 2008-2012.

Prior to this, Mr. Lin served for 15 years as Founding Director and Professor of the China Centre for Economic Research (CCER) at Peking University.

He is Councilor of the State Council and a member of the Standing Committee, Chinese People’s Political Consultation Conference. He is the author of more than 20 books including Beating the Odd: Jump-starting Developing Countries; Going Beyond Aid: Development Cooperation for Structural Transformation, the Quest for Prosperity: How Developing Economies Can Take Off, New Structural Economics: A Framework for Rethinking Development and Policy, Against the Consensus: Reflections on the Great Recession, and Demystifying the Chinese Economy.

He is a Corresponding Fellow of the British Academy and a Fellow of the Academy of Sciences for Developing World.

Source: Center for New Structural Economics at Peking University

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