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Less-Developed and Newly Industrialized Countries

X forging states how can nics and ldcs build better

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Unformatted text preview: the development of agriculture and manufactures, and the establishment of foreign trading monopolies ! Export- oriented Industrialization •InVluenced by liberalism and mercantilism •Common in Asia •Concentrate on producing goods for export –Tariff barriers to protect local industries –Seek out technologies, develop industries for export –Use product life cycle: concentrate on simple goods and work up •Problems of corruption •More successful overall in promoting development ! Structural Adjustment •Economic difViculties of NICs and LDCs often leads to structural adjustment •Financial support from International Monetary Fund and World Bank in return for policy changes •Roll back state role in economy, open up markets •But evidence of effectiveness mixed •More neocolonialism at work? ! •Puzzles and Prospects for Democracy and Development •Three problem factors: –Ethnicity and borders—high ethnic divisions translate into increased economic and political instability –Resource trap theory of development—natural resources can be a dis...
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