Getting Development Right

The celebratory tone about the emergence of the BRICs 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 before. After three decades of Washington Consensus policies, deepening globalization, and China's and India's increasing competitiveness in ever more goods and services, many developing countries are now facing three critical challenges: how to engender a transformation of the production structure that creates many more productive jobs,…