WEEK 02 (Lecture outline)

WEEK 02 (Lecture outline) - The International-Dependence...

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DEVELOPMENT ECONOMICS ECOS 3002 Second Semester, 2010 Week 2: Theories and Models of Development Development vs . Growth Linear-Stages Theories of economic growth Rostow’s stages of growth The Harrod-Domar growth model Obstacles and constraints Criticisms of the stages model The Solow Neoclassical Growth Model
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Appendix: 3.2 Figure: A3.2.1 Figure: A3.2.2 New Growth Theory: Endogenous Growth Motivation for the new growth theory The Romer model Appendix: 3.3 Criticisms of the new growth theory Structural-Change Models (i) Two sector surplus labour theoretical model (e.g., Arthur Lewis) 2
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(ii) ‘Patterns of development’ empirical model (e.g., H. Chenery et al ) The Lewis theory Figure: 3.1 Figure: 3.2 Criticisms of the Lewis model Structural change and patterns of development 3
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Conclusions and implications
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Unformatted text preview: The International-Dependence Revolution The neo-colonial dependence model The false-paradigm model The dualistic-development thesis Conclusions and implications The Neoclassical Counterrevolution Challenging the statist model Conclusions and implications Underdevelopment as a Coordination Failure 4 Starting economic development: The Big push model Kremers O-ring theory of economic development The Hausmann-Rodrik-Velasco Growth Diagnostics Framework 5 Figure: 4.3 Theories of Development: Reconciling the Differences Development economics has no universally accepted paradigm Insights and understandings are continually evolving Each theory has some strengths and some weaknesses 6...
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WEEK 02 (Lecture outline) - The International-Dependence...

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