Abstract

The early history of “classical” development economics is closely intertwined with the experiences of developing countries during the period from the 1940s to the 1960s. This was a period which witnessed the decolonization of many Southeast Asian countries. Much of the economic thought that emerged in these countries during this period was very much related to the economic challenges faced by these countries after gaining independence. These challenges include rebuilding of infrastructure and the productive apparatus, poverty eradication, expansion of education and health facilities, and economic diversification away from its agricultural sector towards manufacturing. Economic ideas about development also evolved as these countries underwent political and structural changes in subsequent years.