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A Practitioner’s Perspective on Development Aid Read chapter Read first chapter

2016 | OriginalPaper | Chapter

3. The Praxis of Economic Growth: Lessons from History

Author : Simone Raudino

Published in: Development Aid and Sustainable Economic Growth in Africa

Publisher: Springer International Publishing

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Abstract

Because economic theory provides such disparate views on normative action in international political economy, Raudino proposes to use the history of economic praxis as a design and implementing guide for public economic policies in low-income countries. By looking at the work of economic historians such as Friedrich List, Joseph Schumpeter, Robert Heilbroner, Ha-Joon Chang and Erik Reinert, Raudino identifies a fil rouge linking successful public economic practices throughout the centuries and across different continents. These can be traced from the dawn of economic development in the modern world—Italian city-states and the Low Lands in the thirteenth century—to the latest countries to successfully graduate in the second half of the twentieth century—including the Asian Newly industrialized Economies (NIEs). These policies can be seen as contributing towards a “virtuous cycle” of economic growth that has given solid proof of empirical validity.

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previous chapter The Theory of Economic Development
next chapter A Quantitative Assessment of Africa’s International Economic Relations
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Metadata
Title
The Praxis of Economic Growth: Lessons from History
Author
Simone Raudino
Copyright Year
2016
Book
Development Aid and Sustainable Economic Growth in Africa

Print ISBN: 978-3-319-38935-6

Electronic ISBN: 978-3-319-38936-3

Copyright Year: 2016

DOI
https://doi.org/10.1007/978-3-319-38936-3_3