Broadening the Debate on Economic Development
Primary Investigators: Dr Ingrid Harvold Kvangraven (Politics, University of York), Collin Constantine (Kingston University)
External Collaborator: Kingston University
Funder: Young Scholars’ Initiative of Institute for New Economic Thinking (event funding)
The Heterodox Development Economics project aims to broaden the international public and academic debate on how to best understand the causes and potential remedies of underdevelopment by drawing on ideas that have been neglected in mainstream Economics, including from Marxian, Keynesian, Structuralist, and Institutionalist traditions. The project also critically explores the theoretical and practical approaches of international development institutions through the lens of these alternative theories. The project is associated with the blog Developing Economics.
Theme 1: Structural Transformation
One part of the project aims to explore how structural change interacts in complex ways with institutional development, income distribution, growth, and economic development. The project also aims to explore how dependency theory could be helpful in explaining development trajectories today, clarify the critiques of the theory and their validity.
Theme 2: Finance in Development
The other part of the project explores the theoretical underpinnings of the mainstream approach to finance in development and investigates concrete challenges faced by developing economies. The project challenges the new development ‘fad’ of financial inclusion, both on theoretical and empirical grounds. At a macroeconomic level, the project has investigated new forms of finance emerging in development contexts and specifically the rise of sovereign bond issuance in sub-Saharan Africa.
Publications related to the project
- Constantine, Collin and Tarron Khemraj. 2018. ‘Geography, Economic Structures and Institutions: A Synthesis,’ Working Papers in Technology Governance and Economic Dynamics 80.
- Dos Santos, Paulo and Ingrid Harvold Kvangraven. 2017. ‘Better Than Cash, But Beware the Costs: Electronic Payments Systems in Developing Countries,’ Development and Change 48 (2): 205–227.
- Gevorkyan, Aleksandr and Ingrid Harvold Kvangraven. 2016. ‘Assessing Recent Determinants of Borrowing Costs in Sub-Saharan Africa,’ Review of Development Economics 20 (4): 721–738.