By Keith Griffin
The query of other innovations for financial improvement is the topic of serious controversy and severe debate among practitioners and lecturers considering financial and social development within the 3rd global. The center of this booklet is an research of the six most generally followed options of improvement particularly monetarism, the open economic system, industrialisation, the golf green revolution or agriculture-led improvement, redistributive ideas of improvement and socialist recommendations.
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Additional resources for Alternative Strategies for Economic Development
The numbers cited were reported in South, August 1986, pp. 39 ff. 43. See Hedley Bull, The Anardiical Society: A Study of Order in World Politics, London, Macmillan, 1977. 44. l the Making of the Modern World, London, Allen Lane, 1967. 23 Chapter 2 MANY PATHS TO DEVELOPMENT Most Third World countries have been independent for 25 to 40 years and some for much longer. Spanish and Portuguese speaking Latin America became independent in the nineteenth century, Asia in the 1940s and Africa in the 1960s.
95. /hid. Simon Kuznets, op. 6, pp. 352-3. 4 percent per annum. , The World Bank, 1977, Table I, p. 13. See Amartya Sen, "Public Action and the Quality of Life in Developing Countries", Oxford Bulletin of Economics and Statistirs, Vol. 43. 1981. See Amartya Sen, Resources, Values and Development, Oxford, Blackwell, 1984, Chapter 15. See Irving B. Kravis, Alan W. Heston and Robert Summers, "Real GOP Per Capita For More Than One Hundred Countries", Economic Journal, Vol. 88, No. 350, June 1978. In this article 16 countries were studied in detail and then short-cut methods of extrapolation were used to estimate real incomes in the rest.
Second, assuming a country is interested in attracting foreign capital, it is likely to attract more such capital in the long run if it does not discriminate against exports. The reason for this is that in an open economy foreign capital can invest not only in activities serving the domestic market but also in activities geared for export. In other words, non-discrimination doubles the options for overseas investors. Third, if capital imports take the form of borrowing abroad from foreign banks, and if this is done by a country where protection is combined with an overvalued exchange rate, there is a grave danger that indebtedness will be incurred merely to finance "capital flight" rather than to add to the nation's stock of physical capital.
Alternative Strategies for Economic Development by Keith Griffin