Gambling on Development

'[An] urgent and important book.' -- Financial Times 'A brilliant, well written and important book. Thoroughly recommended.' -- LSE Review of Books 'This book, written by one of the greatest living development economists, is full of hard-won insights and provocative observations. Dercon's radical modesty, fierce intelligence and deep commitment to describing what actually occurs in the field--in all its hypocrisy, comedy, tragedy, mystery and idealism--distinguishes him in a field too often defined by naive optimism and snake oil solutions.' -- Rory Stewart, former UK Secretary of State for International Development 'A challenging, informed and insightful book. Dercon brings expertise, humility and humanity to the vital question of what makes countries poor and what can help them prosper.' -- David Miliband, president and CEO of the International Rescue Committee, and a former UK Foreign Secretary 'Dercon's message is sobering: there is no silver bullet for development. But any success must rest on the foundation of a bargain among elites, who commit to development and are willing to learn. This should and will be a classic in international development.' -- Yuen Yuen Ang, author of How China Escaped the Poverty Trap and China's Gilded Age 'The most important book on international development in a decade. An intensely political story of economic development--one that could only be written by someone with Dercon's unusual mix of scholarship and statesmanship.' -- Christopher Blattman, author of Why We Fight 'Why is there persistent divergence in development outcomes around the world? The focus has been on policies, but this insightful book proposes we focus instead on implicit contracts or bargains among political and entrepreneurial elites. Superbly incisive, engaging and timely.' -- Leonard Wantchekon, James Madison Professor of Political Economy and Professor of Politics and International Affairs, Princeton University 'An ambitious and uncompromising analysis of the challenge of economic development across the world, from China and India, to Kenya and Ghana. It dissects failures and successes, drawing on diverse methodologies and Dercon's own experience of living and working in all corners of the world. Peppered with data and direct observation, the book is fascinating to read.' -- Kaushik Basu, Professor of Economics and Carl Marks Professor of International Studies, Cornell University, former Chief Economist of the World Bank 'Solving the problems of poverty in the world requires combining a command of what social scientists know with a mastery of the politics involved in turning that knowledge into practical policy. But scientists don't understand politics, and politicians don't understand science. Stefan Dercon understands both. This book is a unique achievement.' -- James Robinson, University Professor, Harris School of Public Policy, University of Chicago, and co-author of Why Nations Fail: The Origins of Power, Prosperity and Poverty