Are the development policy implications of the new economy, new? All that is old is new again

Clarke, M 2006, 'Are the development policy implications of the new economy, new? All that is old is new again', Journal of International Development, vol. 18, no. 5, pp. 639-648.


Document type: Journal Article
Collection: Journal Articles

Title Are the development policy implications of the new economy, new? All that is old is new again
Author(s) Clarke, M
Year 2006
Journal name Journal of International Development
Volume number 18
Issue number 5
Start page 639
End page 648
Total pages 10
Publisher John Wiley and Sons
Abstract There is an (optimistic) view within the literature that the convergence of two long-run broad trends, globalization and advances in information and communication technology, has resulted in a new world economy. Within such a new economy, knowledge replaces traditional productivity input as the primary driver of economic growth. Evidence of this new economy is scarce, yet proponents are optimistic that such an economy offers great hope for developing countries. If this optimism is warranted appropriate government policies would include improving access levels and quality of telecommunication and electricity infrastructure, education and providing both direct and indirect support to encourage local firms to become engaged with the global economy. Ironically, these policies are consistent with current orthodox development policies currently pursued within the old economy. In this regard, it seems that all that is old is new again.
Subject Applied Economics not elsewhere classified
DOI - identifier 10.1002/jid.1254
Copyright notice © 2006 John Wiley & Sons
ISSN 0954-1748
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