ABSTRACT
Growth rates of output and movements in the distributions of income and wealth in developing countries have differed widely over the past two decades. In light of this diverse experience, it is reasonable to ask two questions. First, what factors beyond the control of policy makers helped produce these results? Second, do the results point to a need to take into account local history and institutions in formulating development strategy, or is there some royal policy road that inevitably leads to a rapidly growing, egalitarian Rome?
