The lecture will analyse the phenomenal transformation of Asia, which would have been difficult to imagine, let alone predict, fifty years ago.

In doing so, it provides an analytical narrative of this remarkable story of economic development, situated in the wider context of historical, political and social factors, and an economic analysis of the underlying factors, with a focus on critical issues in the process of, and outcomes in, development. The analytical conclusions drawn contribute to contemporary debates on development, and highlight some lessons from the Asian experience for countries elsewhere.

In 1970, Asia was the poorest continent in the world, marginal except for its large population. Since then, it has been transformed beyond recognition, in the development of nations and living standards of people. This transformation has been uneven across countries and unequal among people. Yet, Asia’s economic progress in this short timespan has been remarkable and almost unprecedented in history. It is beginning to shift the balance of economic power in the world. At this juncture, however, the world is also confronted with mounting economic problems and political challenges, so that the uncertain future is a challenge.

About the speaker

Deepak Nayyar is Emeritus Professor of Economics at Jawaharlal Nehru University, New Delhi, and an Honorary Fellow of Balliol College, Oxford. He previously served as Vice Chancellor, University of Delhi, and Distinguished University Professor of Economics at the New School for Social Research, New York. Earlier, he taught at the University of Oxford, the University of Sussex, and the Indian Institute of Management, Calcutta. Professor Nayyar has also been engaged with public policy as Chief Economic Adviser to the Government of India. His latest books are Resurgent Asia: Diversity in Development and Asian Transformations: An Inquiry into the Development of Nations, Oxford University Press, Oxford, 2019.

About the chair

Kathryn Hochstetler is Professor of International Development in the Department of International Development.