Development economics is a branch of study that focuses on improving the economies of developing countries examining both macroeconomic and microeconomic factors relating to the structure of a developing economy.
The main objective of the book is to present major issues of development economies. It takes up an analysis of the limitations of accumulation-centric growth process and introduces the readers to alternative development paradigms along with their critics.
Organised into fourteen chapters, the initial chapters discuss historical background of less developed economies, post-colonial development patterns in the context of establishment of the World Bank, the IMF and the GATT, economic models like classical development ideas, Marxian model, the Marginalist economies, Alfred Marshall and the neoclassical school and ideas of Keynes.
The book skillfully explains some of the development macro models based on industry-agriculture interactions, structure of agriculture, population and role of market and state in economic development.
The later chapters delve on capability approaches to development and thematic deficiency of traditional development economics, and relation between inequality, poverty and development. In this context the book takes up the analysis of the concept of