Living standards and the wealth of nations: successes and failures in real convergence.

I was delighted to be asked to review this book, particularly when I found that it dealt with my current preoccupation of the role of capital markets and economic development from a broader point of view. It is the published proceedings of a conference in Warsaw in 2003, asking what policies developing countries need to adopt if they are to catch up or "converge" with the living standards of advanced economies. This is a vital topic which has received far less attention than it deserves.

"The

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