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Development Economics and Transformation Studies

This chapter addresses the issue of whether development economics has made a significant contribution to transformation studies. It gives an overview of the major debates in development economics and reveals two basic theoretical positions. A market-oriented theory that accords only a subordinate role to the state, and a statist model that regards the state as the central actor in the process of development, continue to dominate the debate in development economics even today. These two sides, however, are not so fundamentally opposed that they could be mistaken for being involved in a debate over which economic system is most effective in terms of raising living standards in developing countries. Socialist or even communist positions have never attained any real significance within development economics. In this respect development economics has not contributed much to transformation studies, if transformation is understood as a fundamental shift from a market-driven capitalist system to a non-capitalist economy.