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Growth and Development


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In this book each chapter is followed by a summary consisting of key points contained in the chapter and a set of questions for the practice of students. In line with the syllabus, the book is divided into two sections. Section I consists of four units. The first unit – Economic Growth and Development – in turn, consists of three chapters which discuss the concept and measures of economic growth and development, factors affecting economic growth and development, and characteristics of less developed countries. The second unit – Theories of Economic Growth and Development  has four chapters wherein we discuss Schumpeter’s theory, the Big Push theory, Rostow’s stage of growth, and the Harrods-Domar growth model. The third unit – Sectoral View of Development Contains six chapters devoted to a discussion of the role of agriculture, industry and services in economic development, the Lewis model, and the issues of globalization, technical progress and appropriate technology terms of trade between agriculture and industry and the role of infrastructure in economic development. The fourth unit – Human Resource Development – consist of three chapters that discuss issues pertaining to population, human capital and human resource policies, and human development. Section II also consists of four units – units 5 to 8. The fifth unit Macroeconomic Policy and Economic Development? has six chapters that discuss monetary and fiscal policy, sources of capital formation (both domestic and external), multinational corporations, and the IMF and World Bank. The sixth unit ‘Role of State’ consists of three chapters wherein we purport to discuss the role of planning, role and limitations of public sector enterprises, and the changing State policy in India (this chapter considers the disinvestment policy of the Government of India). The seventh unit ‘Environment of Ecology’ consists of two chapters devoted to a discussion of environmental linkages, externalities and market failure and some other issues of concern as far as environmental protection is concerned. The eighth and the last unit of the book ‘Pollution Control’ contains three chapters which discuss a spectrum of issues related to pollution control, choice of policy instruments in developing countries to control pollution, and indicators of sustainable development.

The style adopted is direct and presentation simple so that the students do not have problems in understanding the arguments.


Contents :


Unit 1: Economic growth and development

1. Concept and Measures of Economic Growth and Development
2. Factors Affecting Economic Growth and Development
3. Characteristic of Less Developed Countries

Unit 2: Theories of Economic Growth and Development

1. Schumpeter’s Theory of Economic Development
2. The Big Push Theory
3. Rostow’s Stages of Growth
4. The Harrod-Domar Growth Model

Unit 3: Sectoral view of Development

1. Sectors in Economic Development: Agriculture, Industry and Services
2. The Lewis Model
3. Globalisation
4. Technical Progress and Appropriate Technology
5. Terms of Trade between Agriculture and Industry
6. Infrastructure in Economic Development

Unit 4: Human Resource Development

1. Population Growth in the Development Process
2. Human Capital and Human Resource Policies
3. Human Development


Unit 5: Macro Economic Policy and Economic Development

1. Monetary Policy in Developing Economies
2. Fiscal Policy in Developing Economies
3. Sources of Capital Formation: Domestic
4. External Sources of Capital Formation: Foreign Investment and Aid
5. Multinational Corporations
6. The IMF and Word Bank

Unit 6: Role of State

1. Role of Planning
2. Role of Limitations of Public Sector Enterprises
3. Changing State Policy – Disinvestment Policy in India

Unit 7: Environment and Ecology

1. Environmental Linkage
2. Environmental Externalities and Market Failure

Unit 8 : Pollution Control

1. Prevention, Control and Abatement of Pollution
2. Choice of Policy Instruments in Developing Countries
3. Indicators of Sustainable Development


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Year of publication




S. K. Misra,

V.K. Puri


Himalaya pub