Development Economics. Development Economics. Introduction to Development Economics. DEVELOPMENT ECONOMICS:. Development Economics is the branch of Economics which deals with the Economic Development of the Less Developed Countries (LDC).
Development Economics is the branch of Economics which deals with the Economic Development of the Less Developed Countries (LDC).
Along with the efficient utilization of scarce resources and their growth over time as focused on by traditional economics, development economics tries to cover the political, social , economic and institutional mechanisms to bring about rapid and large scale improvements in the life standards of poor and malnourished populations of developing countries.
The need for a separate field of economics was felt as existing and traditional areas of economics were unable to bring any significant shift in the economic prospects of many developing countries. In the above context development economics tries to focus on various areas to bring about a noticeable change in the economic prospects of developing countries:-
Development Economics is said to be the Economics dealing with Economic Growth of the less developed countries (LDCs), Poverty &Unemployment, Rural, Agricultural and Industrial backwardness, Human and Capital Resource Mobilization and Problems regarding International Backwardness and Development.
Development Economics, must, therefore, identify the mechanisms that keep entire societies in poverty and develop strategies that will enable people to break out of the trap of poverty and backwardness.
Development Economics needs to be concerned with political, economic and cultural requirements of progress and change so that rapid transformation of entire societies so as to spread the fruits of economic progress as broadly as possible.
13. Should primary products be exported or should they be processed and value added?
14. How can developing countries resolve their serious debt issues?
15. When and how should developing countries protect local industry?
16. What impacts have IMF & World Bank had on the development of third world economies?
17. Multi national corporations and investment in developed countries. Who gains?
18. Globalization’s impact on poorer countries?
19.What is the impact of foreign aid on developing nations?
20.Are free market economy and privatization the answer to poor countries development and what should be the role of government in developing countries?
21 Why do developing countries have such poor development policies?
22. What is the impact of fiscal and monetary policies on development? Do large military budgets stimulate or retard growth?
23. What are the reasons for extreme differences in income between the relatively few rich and many poor?