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Perspectives on Global Development 2019

Rethinking Development Strategies

image of Perspectives on Global Development 2019

In 2008, the weight of developing and emerging economies in the global economy tipped over the 50% mark for the first time. Since then, Perspectives on Global Development has been tracking the shift in global wealth and its impact on developing countries. How much longer can the dividends of shifting wealth benefit development, and what does this mean for development strategies?

This new edition first investigates what China’s transformation has meant for global development perspectives, and how shifting wealth has affected countries beyond economic terms, exploring well-being across the developing world. It also analyses and draws lessons from development paradigms over the past 70 years, showing that developing nations in the 21st century have to invent their own, original pathways to greater well-being and sustainability. The time has come to rethink international co-operation and foster more effective exchanges of social and human capital.

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Executive summary

OECD Development Centre

Ideas about development have evolved since the Second World War, with different paradigms dominating mainstream thinking and practice at one time or another. A focus on industrialisation, planning and growth in the post-war years gave way to ideas about structural transformation in the 1960s and dependency theory in the 1970s. The “Washington Consensus” of the 1980s and 90s prioritised macroeconomic stability and promoted structural adjustment. Since the 2000s, a goal-based approach has led to the creation of the Millennium Development Goals and their successor, the Sustainable Development Goals.

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