Introduction: Getting development right

Abstract

The celebratory tone about the emergence of the BRICs (Brazil, Russia, India, China) and the improved growth in Sub-Saharan Africa and Latin America during the 2000s obscures the reality that, for large parts of the developing world, the challenges of development are more acute than ever. After three decades of Washington Consensus policies, deepening globalization, and China’s and India’s rapid growth and increasing international competitiveness in ever more goods and services, many latecomers face three critical challenges: structural transformation, inclusion, and environmental sustainability.