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Chapter 2 Theories of Economic Development
www.cicgeounit2.weebly.comtheories of economic development, including new growth theory and theory of coordination failure, are reviewed. Finally, implications of the changes in the development thoughts and their importance in studying development problems in the developing countries conclude the chapter. Keywords Economic development goals Theories of economic ...
Classic Theories of Economic development: Four Approaches
absobrevinas.weebly.comfrom the subsistence sector is gradually transferred-focuses on both the process of labortransfer and the growth of output and employment in the modern sector b. Chenery’spatterns of development Patterns 1. Shift from agriculture to industrial 2. Steady accumulation of human and physical capital 3. Desire for more manufactured goods instead ...