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Structural transformation and rural change revisited: challenges for late developing countries in a globalizing world

The International Bank for Reconstruction and Development / The World Bank 2012 ;CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank ;ISBN: 9780821395127 ;ISBN: 0821395130 ;ISBN: 0821395122 ;ISBN: 9780821395134 ;EISBN: 0821395130 ;EISBN: 9780821395134 ;DOI: 10.1596/978-0-8213-9512-7 ;OCLC: 806056099

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Title:
Structural transformation and rural change revisited: challenges for late developing countries in a globalizing world
Author: Losch, Bruno ; Fréguin-Gresh, Sandrine ; White, Eric Thomas
Subjects: agricultural protection ; Agriculture ; annual growth ; barriers to entry ; bonds ; business cycle ; business cycles ; capital flows ; capital goods ; capital inflows ; capital markets ; Consumer price index ; consumers ; CPI ; debt ; Developing countries ; developing country ; developing regions ; developing world ; Development Economics ; diversification ; dividends ; Economic aspects ; Economic conditions ; Economic Cooperation ; Economic development ; economic environment ; economic instability ; Economic integration ; Economic reform ; Energy prices ; exchange rate ; exchange rates ; export growth ; exports ; external environment ; external factors ; financial institutions ; financial integration ; financial markets ; financial sector ; financial system ; fiscal pressures ; Forecasts ; Foreign direct investments ; Free Trade ; GDP ; Generalized System of Preferences ; Global conditions ; global economy ; Globalization ; GNP ; gross debt ; Gross domestic product ; growth performance ; growth prospects ; growth rates ; High inflation ; high premium ; high unemployment ; imports ; income ; income growth ; industrial countries ; Inflation ; inflation performance ; inflation rates ; Interest rates ; international experience ; international markets ; international trade ; inventories ; investment rates ; labor costs ; labor force ; labor market ; local currency ; low inflation ; low interest rates ; low-income countries ; macroeconomic policies ; macroeconomic stability ; Market liberalizationaggregate demand ; market prices ; middle-income countries ; monetary policies ; monetary policy ; national accounts ; Non-OECD countries ; oil ; oil exporters ; oil prices ; OPEC ; open economies ; output growth ; per capita incomes ; Policy reforms ; potential output ; primary commodities ; primary products ; private sector ; producers ; product markets ; production costs ; production processes ; productivity ; Purchasing power ; Purchasing power parity ; Real GDP ; Real interest ; Real interest rates ; recession ; recessions ; regulatory framework ; resource allocation ; Rural development ; savings ; short-term interest rates ; Structural change ; structural unemployment ; Tariffs ; technology transfer ; telecommunications ; Trade ; trade barriers ; trade liberalization ; trade policies ; trade volumes ; transition economies ; Transport ; Treasury bills ; unemployment ; Uruguay Round ; world economy ; World Trade Organization ; WTO
Description: Structural transformation and rural change revisited challenges for a late developing country in a Globalizing World is an extremely thorough and important contribution to this renewal of structural economics. It significantly improves our understanding of rural economies and structural transformation, and it could not be timelier. With duration of five years (2006-2010), its objective was to analyze the processes of liberalization and economic integration and their impacts on agriculture and the rural sector of developing countries. It also aimed to illustrate the situation of rural economies in terms of income, diversification, and overall transformation. The results obtained make it possible to improve the dialogue between national and international partners and to provide orientations for the agricultural and rural policy debates. Relying on a methodology that articulated micro-data collection with a macro structural perspective, the program conducted extensive fieldwork to investigate livelihood strategies of rural households, and married the results with a thorough understanding of structural change. The book highlights recurring patterns of diversification and specialization along the process of structural transformation. Further, reconnecting with a broader vision, it emphasizes the difficulties faced by late developers, whose economies offer few alternatives for households to diversify. Based on their assessment, the authors draw a series of policy lessons. They rightly point out the importance of states rebuilding their internal capacities to design comprehensive development strategies. These capacities are critical to addressing major constraints, defining priorities, and ensuring adequate sequencing. Above all, they show that for Sub-Saharan Africa, in the coming two decades, a strong reinvestment in agriculture (in addition to seizing opportunities for the development of manufacturing and services) will be the major policy tool for progressively raising income, mitigating risks, and fostering innovation and rural demand, which constitutes the main engine for rural diversification a major step for structural transformation. The authors also stress the role of the state in provisioning public goods, in adequately and carefully designing incentives, and in using the leverage offered by the development of small towns as a critical mechanism for rural change. These are all sensible and useful reminders for the donor community, governments, and local stakeholders, and represent an important contribution to the role of agriculture for development.
Related Titles: Africa Development Forum
Publisher: Washington, DC: World Bank
Creation Date: 2012
Format: 277
Language: English
Identifier: ISBN: 9780821395127
ISBN: 0821395130
ISBN: 0821395122
ISBN: 9780821395134
EISBN: 0821395130
EISBN: 9780821395134
DOI: 10.1596/978-0-8213-9512-7
OCLC: 806056099
Source: Open Knowledge Repository
Ebook Central Academic Complete

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Structural transformation and rural change revisited: challenges for late developing countries in a globalizing world

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