VIDEO: New Structural Economics
Dr Justin Yufi Lin, World Bank Chief Economist, discusses the new structural economics (NSE) approach to development, which he proposed at the start of 2010 as a strategy for achieving sustainable economic growth in developing countries. ©2010 Institute of International & European Affairs (IIEA). (English)

— Abstract

Structural approaches to development have covered both macro and micro issues. In the 1940s, a focus on market failures inspired governments to promote wide economic changes in production through agricultural transformation, industrialization, urbanization, and modernization. In the 1980s, thinking emphasized the functioning of markets, institutions, and regulatory and incentives systems. Proponents of the structural adjustment programs advocated for restoring external and domestic balances, prescribing liberalization and privatization. More recently, New Structural Economics seeks to reconcile these two extremes. It promotes the strategic selection of competitive industries, according to comparative advantage, and recommends a new distribution of roles between governments and markets.

— Suggested Readings

Glover, David. (1995). "Structural adjustment and the environment". Journal of International Development : Policy, Economics and International Relations.

Kuznets, Simon. (1966). Modern Economic Growth: Rate, Structure and Spread. New Haven, CT: Yale University Press. [PDF 230KB]

Lal, Deepak. (1985). The Poverty of Development Economics. Cambridge, MA: Harvard University Press.

Lin, Justin Yifu. (2012). The New Structural Economics: A Framework for Rethinking Development and Policy. Washington, DC: The World Bank. [PDF 700KB]

Lin, Justin Yifu. (2012). The Quest for Prosperity: How Developing Countries Can Take Off. Princeton, NJ: Princeton University Press.

Meier, Gerald M. and Joseph E. Stiglitz (eds.) (2001). Frontiers of Development Economics: The Future in Perspective. Washington, DC and New York: The World Bank and Oxford University Press.

Rodrik, Dani. (2007). One Economics, Many Recipes: Globalization, Institutions, and Economic Growth. Princeton, NJ: Princeton University Press. [PDF 900KB]

Rodrik, D. (2015). Economics rules: the rights and wrongs of the dismal science. WW Norton & Company.

Soludo, Charles Chukwuma, and P. Thandika Mkandawire. (2003). African voices on structural adjustment: a companion to Our continent, our future. Ottawa: International Development Research Centre.  (Résumé en français disponible ici)