Emerging Issues in Economic Development

Developing counties all around the globe have been trying to adopt market-driven institutional systems. As the pace of economic reforms gains momentum, it becomes increasingly evident that these reforms have resulted in new challenges and issues. For example, the economic growth which picked up pace in the last decade is now threatened by an unprecedented surge in inflation. Similarly the challenge to manage scarce foreign capital has now transformed into a challenge of maintaining policy independence under plentiful inflow of foreign exchange. Microfinance which was considered as a useful policy tool to eradicate poverty is now under closer scrutiny for pulling borrowers into debt trap. Though these challenges are theoretically similar to the ones in the past, they have undergone transformation due to recent developments in the field. This book analyses such emerging issues and attempts to bridge the gap between the empirical concerns and the existing theoretical understanding. The volume uses various frameworks ranging from moral hazard, adverse selection, influence peddling, trade theory, property rights among others to discuss issues such as corruption, financial scams, poverty measurement, voting behaviour, informal credit markets, technology transfer, and farmers' suicides.