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Chapter 2 Theories of Economic Development

Chapter 2 Theories of Economic DevelopmentAbstractThis Chapter reviews some of the most prominent Theories of economicdevelopment. These Theories describe tools and strategies for making developmentgoals achievable. The Chapter starts with early views about the nature of economicprosperity. The Chapter then reviews classical Theories with four main clusters:linear stages of growth models; structural change models; international dependencemodels; and neoclassical counter-revolution models. Subsequently, contemporarytheories of Economic Development , including new growth theory and theory ofcoordination failure, are reviewed.

On the way to achieve rapid economic growth, countries around the ... 2.2 Goals of Economic Development 13. Although early economists included the natural environment in their economic analysis, environmentalism only drew international attention in the 1960s (Pearce ... The collapse of the Soviet Union in 1991 and

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