ABSTRACT
Certain outstanding features dominate the post-World War II landscape of development. One is that the overall growth of developing countries, in spite of the oil shocks and stagflation in the developed countries, has been surprisingly strong. Over the past three decades, growth has generally been in excess of postwar targets. A second feature is that this record hides very substantial differences between the upper tier — the so-called newly industrialized countries of East Asia and Latin America—and the really poor developing countries concentrated in South Asia and Africa. Third, with respect to performance in terms of employment and income distribution, a further distinction must be made between the East Asian newly industrialized countries, where the record has generally been good, and the Latin American newly industrialized countries, where it has been less satisfactory.
