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About Lecture 3 Classical Theories of Economic Development
The document summarizes several classical theories of economic development: 1. Linear stages of growth models propose countries pass through successive stages of economic growth through investment and savings. 2. Structural change theories examine how countries transform from agriculture to industry and services. The Lewis two-sector model describes labor moving from low-productivity agriculture to higher productivity industry. 3. Dependence theories argue developing countries face domestic and international rigidities that create dependence on wealthy countries in a neocolonial relationship. 4. Neoclassical theories favor free markets and privatization and call for dismantling public ownership and regulation, citing models like Solow and Romer.
Detailed Information
| Author: | ['rabia liaqat'] |
|---|---|
| Publication Year: | 2020 |
| Pages: | 14 |
| Language: | English |
| Format: | |
| Price: | FREE |
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