Title: The structuralist approach to development policy
Abstract:Structuralist methodology and development policy are examined and compared to other major development policy approaches. The structuralist approach focuses on various types of structural disequilibria...Structuralist methodology and development policy are examined and compared to other major development policy approaches. The structuralist approach focuses on various types of structural disequilibria. In domestic policy, this approach can be used to examine the effects of surplus labor on resource allocation; in international policy, it focuses on the balance of payments. One problem with structuralist policy is that, in ignoring the advantages of market adjustments, policy prescriptions place too much weight on the limited administrative apparatus of developing countries. This is a major limitation to development that could be countered by not attempting excessive fine tuning of development policy. Complex policies may prove more costly to implement than less efficient but simpler programs. It is concluded that changes in the world economy have complicated the task of development, and that most economies are suffering from serious structural disequilibria. Finally, the goal of giving greater weight in development policy to distributional considerations cannot be achieved without giving equal priority to adjustments in external trade and capital flows.Read More
Publication Year: 1975
Publication Date: 1975-05-31
Language: en
Type: article
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Cited By Count: 251
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