This paper traces the evolution of Ishikawa's unique scholarship in the definition and methodology of development economics, with particular emphasis on the theoretical and empirical studies on the situation of underdevelopment of markets and market economy, as well as the process of their development over time. On the methodological aspects, the process of evolution of his research paradigm of the “stage-cum-typology” framework is presented and examined, and search for “Ishikawa-Lite” versions of this paradigm is proposed with a view to promoting its adaptation and renovation. With regard to Ishikawa's political economy of “adaptation” in policy reform process, while its significance and unique contribution is duly recognized, some questions and tasks for further research are presented.
It is hoped that this paper will help familiarize younger generations of researchers with Ishikawa's scholastic achievements and motivate them to explore ways to adapt and renovate them in their own studies.
