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A Brief History of Orthodox Development Theory

Essay 2016 7 Seiten

BWL - Sonstiges

Zusammenfassung

The aim of this essay is to assess mainstream development strategies during the 20th century, ending at the 1980s and 1990s with the Washington consensus. The essay will begin with a description of the nature of the early development period, which was largely based, inter alia, on growth theory, Keynesian approaches and ‘unorthodoxy’ characterized by export pessimism and import substitution. Afterwards, the development strategies of the ‘lost decade of development’, will be assessed. This period saw the rise of neoliberalism, the monetarist counterrevolution, and general policy shifts toward the right. It was characterized by a promotion of free markets, a downplay of state intervention, and the prominence of free trade and export promotion for economic growth.

Details

Seiten
7
Jahr
2016
Dateigröße
461 KB
Sprache
Englisch
Katalognummer
v429689
Institution / Hochschule
Rhodes-Universität
Note
80
Schlagworte
Development Economics

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Titel: A Brief History of Orthodox Development Theory