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Classic Theories of Development: A Comparative Analysis

Classic Theories of Development: A Comparative Analysis. Chapter 4. Development as Growth and the Linear-Stages Theories. Rostow’s stages of growth The Harrod-Domar growth model Obstacles and constraints Some criticisms of the stages model. The Harrod-Domar Model. (4.1). (4.2). (4.3).

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Classic Theories of Development: A Comparative Analysis

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  1. Classic Theories of Development: A Comparative Analysis Chapter 4

  2. Development as Growth and the Linear-Stages Theories • Rostow’s stages of growth • The Harrod-Domar growth model • Obstacles and constraints • Some criticisms of the stages model

  3. The Harrod-Domar Model (4.1) (4.2) (4.3) (4.4)

  4. The Harrod-Domar Model (4.5) (4.6) (4.7)

  5. Structural-Change Models • The Lewis theory

  6. Figure 4.1 The Lewis Model of Modern-Sector Growth in a Two-Sector Surplus-Labor Economy

  7. Figure 4.2 The Lewis Model Modified by Laborsaving Capital Accumulation: Employment Implications

  8. Structural-Change Models • The Lewis theory • Structural change and patterns of development • Conclusions and implications

  9. The International-Dependence Revolution • The neoclassical dependence model • The false-paradigm model • The dualistic-development thesis • Conclusions and implications

  10. The Neoclassical Counterrevolution • Challenging the statist model • Free market approach • Public choice approach • Market-friendly approach • Traditional neoclassical growth theory • Conclusions and implications

  11. 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

  12. Autarky Average product Capital-labor ratio Capital-output ratio Capital stock Center Closed economy Comprador groups Dependence Dominance Dualism Endogenous growth False-paradigm model Free market Free-market analysis Concepts for Review

  13. Harrod-Domar growth model Lewis two-sector model Marginal product Market-friendly approach Necessary condition Neoclassical counterrevolution Neocolonial dependence model New institutionalism New political economy approach Open economy Concepts for Review, cont’d

  14. Patterns-of-development analysis Periphery Production function Public choice theory Savings ratio Self-sustaining growth Solow neoclassical growth model Stages-of-growth model of development Structural-change theory Structural transformation Sufficient condition Concepts for Review, cont’d

  15. Surplus labor Traditional neoclassical growth theory Underdevelopment Concepts for Review, cont’d

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