Economic Development [3HEFEK155V]

Time and place	Lecture (Prof. Dr. Carsten Hefeker): Wednesday, 10:00 AM - 12:00 PM c.t. Room: US-A 234 weekly First lecture: October 15. Tutorial (Ard Uka): Monday, 2:00 PM - 4:00 PM c.t. Room: US-A 134 biweekly First tutorial: October 27. Office hours: After class and by appointment. Send email to Carsten.Hefeker{at}uni-siegen.de using your official *@student.uni-siegen.de* email account. Please make sure that you register on UNISONO for material and recent updates. Economic Development
Mechanics	The course is based mainly on parts of textbooks and selected articles mentioned below. Additional sources will be specified in class. Slides and problem sets are available via *UNISONO* if you are registered for the course. Slides cover all relevant material but will not be sufficient to pass the course.
Requirements	This course has 9 Credit Points, comprising the lecture and a tutorial. Students are advised and expected to participate in both. The final exam will have 60 Minutes. There will also be a Midterm-exam, scheduled for December 1. Details will be given in class and in the tutorial.
Outline	Part I: The Facts The Development Gap Dimensions of Development Convergence Inequality Main Literature: Roland, Todaro and Smith. Additional Literature: Banerjee and Duflo, Goldin, Raj, Sen. Part II: Theories of Development Factor Accumulation Mobilizing Capital Reallocation of Labor Endogenizing Technological Process Externalities and Coordination Failures Main Literature: Ashraf and Weil, Roland, Todaro and Smith. Additional Literature: Dercon, Easterly, Edwards, Goldin. Part III: International Influences Trade Policy for Development (Under)Development as a Problem for Exploitation and Dependece Capital Flows Economic Systems and the Washingthon Consensus Main Literature: Montiel, Todaro and Smith. Additional Literature: Easterly (2019), Edwards (2015), Irwin (2023). Part IV: Institutions and Development What are Institutions? Political Institutions Property Rights Corruption and Development History and Institutions Main Literature: Acemoglu, Johnson and Robinson. Additional Literature: Bau et al., Acemoglu and Robinson, Dercon, Djankow et al., North et al., Wiliamson. Part V: Selected Aspects of Development Natural Resources and Development Economic Populism The Problem of Reform Main Literature: Dewatripont and Roland, Edwards (2019), Fernandez and Rodrik, Funke et al., Mehlum et al., Nsouli et al., Ross. Additional Literature: Aslaksen and Torvik, Canen and Wantchekon, Rodrik, Venables.
Literature	Acemoglu, Daron, Simon Johnson and James A. Robinson (2005) Institutions as a Funda-mental Cause of Long-Run Growth, Handbook of Economic Growth Vol. 1A, 385-472. (Available at: https://www.sciencedirect.com/science/handbooks/15740684/1/part/PA). Acemoglu, Daron and James A. Robinson (2011) Why Nations Fail: The Origins of Power, Prosperity and Poverty, New York: Crown. Ashraf, Quamrul and David Weil (2025) Economic Growth, New York: Routledge. Aslaksen, Silje and Ragnar Torvik (2006) A Theory of Civil Conflict and Democracy in Rentier States, Scandinavian Journal of Economics 108, 571-585. Banerjee, Abhijit V. and Esther Duflo (2011) Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty, New York: Public Affairs. Bau, Natalie, Sara Lowes and Eduardo Montero (2025) Culture, Policy, and Economic Development, NBER Working Paper 33947. Besley, Timothy and Maitreesh Ghatak (2010) Property Rights and Economic Development, Handbook of Development Economics Vol 5, 4525-4595. (Available at: https://www.sciencedirect.com/science/article/pii/B9780444529442000069). Blattman, Christopher, Scott Gehlbach and Zeyang Yu (2025) The Personalist Penalty: Varieties of Autocracy and Economic Growth, NBER Working Paper 34093. Canen, Nathan and Leonhard Wantchekon (2022) Political Distortions, State Capture, and Economic Development in Africa, Journal of Economic Perspectives 36, 101-124. Dercon, Stefan (2022) Gambling on Development, London: Hurst. Dewatripont, Mathias and Gérard Roland (1995) The Design of Reform Packages under Uncertainty, American Economic Review 85, 1207-1223. Djankov, Simeon, Edward Glaeser, Rafael La Porta, Florencio Lopez-de-Silanes and Andrei Shleifer (2003) The New Comparative Economics, Journal of Comparative Economics 31, 595-619. Easterly, William (2001) The Elusive Quest for Growth: Economists' Adventures and Misadven-tures in the Tropics, Cambridge: MIT-Press. Easterly, William (2019) In Search of Reforms for Growth: New Stylized Facts on Policy and Growth Outcomes, NBER Working Paper 26318. Edwards, Sebastian (2015) Economic Development and the Effectiveness of Foreign Aid: A Historical Perspective, Kyklos 68, 277-316. Edwards, Sebastian (2019) On Latin American Populism, and Its Echoes around the World, Journal of Economic Perspectives, 33 (4), 76–99. Fernandez, Raquel and Dani Rodrik (1991) Resistance to Reform: Status Quo Bias in the Presence of Individual-Specific Uncertainty, American Economic Review 81, 1146-1155. Funke, Manuel, Moritz Schularick and Christoph Trebesch (2023) Populist Leaders and the Economy, American Economic Review 113, 3249-3288. Galbraith, James, Ravi Kanbur, Kunal Sen and Andy Summer (2025) Kuznets at 70: The Enduring Significance of a Curve and a Hypothesis, CEPR Discussion Paper 20474. Goldin, Ian (2018) Development: A Very Short Introduction, Oxford: Oxford University Press. Irwin, Douglas (2021) How Economic Ideas Led to Taiwan’s Shift to Export Promotion in the 1950s, PIIE Working Paper 21-13. Johnson, Paul and Chris Papageorgiou (2020) What Remains of Cross-Country Convergence?, Journal of Economic Literature 58, 129-175. Kremer, Michael (1993) The O-Ring Theory of Economic Development, Quarterly Journal of Economics 108, 551-575. Kremer, Michael, Jack Willis and Yang You (2022) Converging to Convergence, NBER Macroeconomics Annual 36, 337-412. Mehlum, Halvor, Karl Moene and Ragnar Torvik (2006) Cursed by Resources or Institutions?, World Economy 29, 1117-1131. Montiel, Peter (2003) Macroeconomics in Emerging Markets, Cambridge: Cambridge University Press. North, Douglass C., John Joseph Wallis and Barry R. Weingast (2009) Violence and Social Orders: A Conceptual Framework for Interpreting Recorded Human History, Cam-bridge: Cam-bridge University Press. Nunn, Nathan (2014) Historical Development, Handbook of Economic Growth Vol. 2A, 347-402. (Available at http://www.sciencedirect.com/science/article/pii/B9780444535382000071). Prasad, Eswar and Raghuram Rajan (2008) A Pragmatic Approach to Capital Account Liberalization, Journal of Economic Perspectives 22(3), 149-172. Rajan, Raghuram and Arvind Subramanian (2008) Aid and Growth: What does the Cross-Country Evidence Really Show?, Review of Economics and Statistics 90, 643-665. Ray, Debraj (1998) Development Economics, Princeton: Princeton University Press. Rodrik, Dani (2008) One Economics, Many Recipes: Globalization, Institutions and Economic Growth, Princeton: Princeton University Press. Roland, Gérard (2014) Development Economics, Basingstoke: Routledge. Ross, Michael L (2018) The Politics of the Resource Curse: A Review, in Lancaster, Carol and Nicolas van de Walle (eds) The Oxford Handbook of the Politics of Development, Oxford: Oxford University Press, (available at: https://www.sscnet.ucla.edu/polisci/faculty/ross/papers/chapters/Politics%20of%20the%20Resource%20Curse%20Oxford2018.pdf ). Sen, Amartya (2001) Development as Freedom, Oxford: Oxford University Press. Spence, Michael (2021) Some Thoughts on the Washington Consensus and Subsequent Global Development Experience, Journal of Economic Perspectives 39(3), 67-82. Todaro, Michael and Stephen Smith (2011) Development Economics, Essex: Pearson. Venables, Anthony J. (2016) Using Natural Resources for Development: Why has it Proven so Difficult?, Journal of Economic Perspectives 30, 161-183. Williamson, Oliver E. (2000) The New Institutional Economics: Taking Stock, Looking Ahead, Journal of Economic Literature 38, 595-613.

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