Post by account_disabled on Feb 29, 2024 7:59:25 GMT
Are you interested in development economics ? If you are enrolled at Aquila university and have to take this exam, you have ended up in the right blog. We offer you a little in-depth analysis that will help you have a more conscious first approach to the subject. So grab a pen and paper and continue reading. Development economics: what do you study? Development economics is a rather recent branch. It was born, in fact, immediately after the war and, over time, has had the economies of underdeveloped countries as its privileged object of study. But let's take a step back to precisely define this discipline, whose objective is the analysis of the economic changes that occur in individual countries. Economic development means the increase in production and income.
This means that economists have taken into consideration GNP - gross national product and GDP - gross domestic product in order to establish and evaluate the level of development of a nation. Studying the economic growth of a country Belgium WhatsApp Number Data also meant understanding the reasons for the differences between peoples and the reasons for the imbalances that exist between industrialized economies and developing or underdeveloped economies. Obviously, over the years numerous theories have been developed both on the methods of economic development and on the causes of the differences between countries. Below we show you some of them: Rostow stage theory developmental theories by W.A. Lewis Harrod and Domar model R. Solow's growth model and neoclassical theory Schumpeter and the theories of endogenous growth Development economics theories After having clarified what development economics is, we move on to analyze one of the main theories or rather the first of the most accredited theories, namely that of the American academic Walt Whitman Rostow. According to the economist, all countries go through five different stages.
This means that the level of development of a country can be defined based on the stage it is in. The phases are as follows: traditional society (lack of economic laws, prevalence of barter, absence of trade and industrial production) incubation phase take off with the consequent transformation of the economy from traditional to modern. In this phase, for example, the transition of workers from agriculture to the manufacturing industry occurs evolution towards maturity age of consumption and mass production This theory, based on a very linear idea of ​​development, has been the subject of several criticisms. According to some scholars, in fact, it is a model suitable especially for large countries which is affected, among other things, by the development mode prevalent in the Western world. If you are enrolled in the faculty of economics and have to take this exam, you will study this and the other theories that have emerged over the years thanks also to phenomena such as the end of colonialism and globalization. Endogenous growth theories The 80s and 90s were very important for the birth of new theories.
This means that economists have taken into consideration GNP - gross national product and GDP - gross domestic product in order to establish and evaluate the level of development of a nation. Studying the economic growth of a country Belgium WhatsApp Number Data also meant understanding the reasons for the differences between peoples and the reasons for the imbalances that exist between industrialized economies and developing or underdeveloped economies. Obviously, over the years numerous theories have been developed both on the methods of economic development and on the causes of the differences between countries. Below we show you some of them: Rostow stage theory developmental theories by W.A. Lewis Harrod and Domar model R. Solow's growth model and neoclassical theory Schumpeter and the theories of endogenous growth Development economics theories After having clarified what development economics is, we move on to analyze one of the main theories or rather the first of the most accredited theories, namely that of the American academic Walt Whitman Rostow. According to the economist, all countries go through five different stages.
This means that the level of development of a country can be defined based on the stage it is in. The phases are as follows: traditional society (lack of economic laws, prevalence of barter, absence of trade and industrial production) incubation phase take off with the consequent transformation of the economy from traditional to modern. In this phase, for example, the transition of workers from agriculture to the manufacturing industry occurs evolution towards maturity age of consumption and mass production This theory, based on a very linear idea of ​​development, has been the subject of several criticisms. According to some scholars, in fact, it is a model suitable especially for large countries which is affected, among other things, by the development mode prevalent in the Western world. If you are enrolled in the faculty of economics and have to take this exam, you will study this and the other theories that have emerged over the years thanks also to phenomena such as the end of colonialism and globalization. Endogenous growth theories The 80s and 90s were very important for the birth of new theories.