It’s very interesting to see how international institutions such as the World Bank are quickly breaking away from neoliberal market fundamentalism. The paradigm shift from the generally applied notions dubbed by Justin Yifu Lin as “development thinking 1.0 and 2.0” which brought about an essential practice of case by case contextual analysis and development thinking is critical in ensuring sustainable development.
The successive economic growth of the past few years in Ethiopia was mainly based on improving the productivity of subsistent farmers. It’s also important to see this in light of the arguments in development economics on intensive verses extensive farming, and balance and unbalanced growth strategies.
On another note, Ethiopia and other African countries have also made significant progresses in building their Social Overhead Capital (SOC) and in building industry ready societies over the past few years.
Regional integration and the gradual growth of intra-African trade can further speed up the growth of these African countries.
Many are the factors that are in favor of these African countries, so long as they can properly understand their comparative advantages. And this requires superior analytical skill.
World Bank’s and UNIDOs “Cluster and Network Development Program” can also be of great use for countries such as Ethiopia in their journey to shift from agriculture led economy to industry led economy over the coming several years.
I’ll be looking forward to read Justin Yifu Lin’s book.
It’s very interesting to see how international institutions such as the World Bank are quickly breaking away from neoliberal market fundamentalism. The paradigm shift from the generally applied notions dubbed by Justin Yifu Lin as “development thinking 1.0 and 2.0” which brought about an essential practice of case by case contextual analysis and development thinking is critical in ensuring sustainable development.
The successive economic growth of the past few years in Ethiopia was mainly based on improving the productivity of subsistent farmers. It’s also important to see this in light of the arguments in development economics on intensive verses extensive farming, and balance and unbalanced growth strategies.
On another note, Ethiopia and other African countries have also made significant progresses in building their Social Overhead Capital (SOC) and in building industry ready societies over the past few years.
Regional integration and the gradual growth of intra-African trade can further speed up the growth of these African countries.
Many are the factors that are in favor of these African countries, so long as they can properly understand their comparative advantages. And this requires superior analytical skill.
World Bank’s and UNIDOs “Cluster and Network Development Program” can also be of great use for countries such as Ethiopia in their journey to shift from agriculture led economy to industry led economy over the coming several years.
I’ll be looking forward to read Justin Yifu Lin’s book.