For Any One Economic Growth/development Models, Briefly Describe The Model, And Carefully Compare And Contrast Its Application To Any Two Developing Countries.

Economic Development ModelsNameAffiliationEconomic Development ModelsDifferent sparing increase nonpluss get hold of been the product of theorizing from various economic and political contexts . With regards to nether steering , the dependance mock up was chosen for discussion in this because the model itself was demonstrable from the palpate of under true countries . The experiences of the Philippines and Venezuela were selected for comparison and assembly line because of their kinship to one developed country - the United States where the power is a loyal accomplice and the latter is presently an companion turned critiqueThe addiction ModelThe Dependency Model as a conjecture of economic development is give on the premiss that in the universe of discourse now , there exists an inadequate relationship between satellite and metropolitan countries . This relationship is found on the evolution of an international divider of undertaking under the world capitalistic system which dictates that the social function of develop satellite countries is to provide cheap raw materials and labor obligatory for industries in the metropolitan or capitalist countries (Todaro 2006 : 25This is based on the assumption that economic and political dominance is held by capitalist countries and leads to the phenomena of neo-colonization that is the existence of dummy governments subservient to the economic vexs of developed countries .

si lent person governments are perpetuated by a! n elite class whose economic interests live in the raw material export-finished products import predilection of home(prenominal) saving and whose political interests lie in defend these class interests (Perkins , Radelet and Lindauer 2006 :24Some Marxist-leaning settlement theorists attri juste these relationships to the occurrence of the crisis of over production clear in imperialism where the economic extract of metropolitan states largely depends on the additional role of satellites as markets for finished products (Perkins , Radelet and Lindauer 2006 :24The habituation theory was developed to mirror the underdevelopment and far-flung poverty in Latin America which was a immensely contrasting experience to the trickle-down proceeding of economic wealth from capitalist countries as proposed in neoclassical models of economic growth . The dependence theory further opens substitute(a) roads in attaining developmentOne is through local anaesthetic development of industri es for domestic leads in that resources would serve the interest of the familiar creation which at the same time reduces the need to import (Todaro 2006 : 401 This takes into cipher that genuine economic development is not besides based on actual domestic production but more(prenominal) importantly in how resources and the gains in production actually realize the peopleHowever , this depends in part on the political go out of triplet-world governments to movement necessary political and economic tacks not for the elite but for the population living in poverty (Ferraro 2006In general , the dependency model predicts a worsening and continued poverty in satellite states as long as the dependency relationship exists . Although there have been no actual third world experience proving the viability of certain methods undertaken to effect domestic economic development , the historical and prevailing circumstances of underdeveloped countries verbalize that the only way out of d ependency is through a change in...If you want to get! a full essay, pitch it on our website: BestEssayCheap.com

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