LDC employment and growth, a synthesis of economic growth center research

IT BEGINS WITH A THEORETICAL FORMULATION OF THE PROBLEM - PARTICULARLY APPROPRIATE TO A LABOR-SURPLUS ECONOMY BUT ALSO APPLICABLE TO THE LAND-SURPLUS TYPE. RESULTS OF STUDIES OF INDIVIDUAL COUNTRIES, SECTORS, AND FUNCTIONS ARE DESCRIBED AND BASED ON THEM, THE FOLLOWING SUGGESTIONS ARE MADE: 1) FACTOR AND PRODUCT PRICES SHOULD BETTER REFLECT FACTOR ENDOWMENTS, AT LEAST AT THE FIRM LEVEL; 2) MARKETS SHOULD BE ALLOWED AND ENCOURAGED TO FUNCTION MORE EFFICIENTLY, AND FOR EFFECTIVE PRICE AND MARKET ADJUSTMENTS, THERE MUST BE AT LEAST A MINIMUM OF DOMESTIC INFRASTRUCTURE, ENTREPRENEURIAL SKILLS, AND TECHNOLOGY; 3) INCREASED EDUCATION SHOULD PROVIDE MORE NECESSARY SKILLS, RESPONSIVENESS TO CHANGING MARKETS, AND IMPROVE AGRICULTURE; 4) WITH GRADUAL CHANGES IN MONETARY, FISCAL, AND EXCHANGE RATE POLICIES, EMPLOYMENT AND PRODUCTION SHOULD INCREASE; AND 5) ADAPTIVE AGRICULTURAL AND INDUSTRIAL RESEARCH SHOULD BE ENCOURAGED.