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    Example:

  • The U.S., Canada and Australia faced very favorable initial conditions in 18th and 19th century. There was an abundance of land, fairly temperate climates, and good endowments of natural resources. But the initial conditions facing most (not all) poor countries were much less favorable and many had to cope with the damages left by centuries of colonialism, in Africa and Latin America. In the great majority of cases, colonialism was especially damaging to institutions, to soils, to system of governance etc.

So, it is evident that “one size never fits all” , even as between poorer countries as a group, there are just too many differences in initial conditions and subsequent conditions. However, early 20 th century models of economic growth were based on the idea that one size fits all

Let us also consider generalizations about development. The first important generalization. It is very difficult to make defensible generalization about economic development. We are, after all, talking about 160/170 odd nations that are conventionally called emerging, or less developed and 40 countries that are called nearly developed .

In fact, there are as many differences between individual developing countries as there are differences between developing countries and developed ones. This is not surprising given vast difference between developing countries. These include differences in:

  • Cultures
  • Natural resource endowment
  • Climate ( 500 years ago tropical regions were richer then in Northern climates)
  • Colonial Past ( Much of sub-Sahara Africa’s lower per capita GDP stem from its colonial heritage )
  • Ideological Differences
  • Leadership Differences

Growth models- old and new

Let us examine some 20th century models in Growth and Development. Not 30 years ago most courses on economic and development spent at least a month focused on models purporting to capture the essence of growth and development.

In this book we will spend only a few hours on them, mostly as a place-marker in the history of economic thought.

First was the Harrod-Domar Model a widely taught (circa 1950-55) model (see Chapter 4, textbook). Harrod-Domar This model was developed by Roy Harrod and Evsey Domar in the 1950s. The model is single-mindedly focused on investment in physical capital (the concept of human capital was not formal until the sixties). was concerned exclusively with rule of Physical capital accumulation in economic growth. This is an extremely simple model, formulated by desk-bound professors and taught by desk-bound professors to other desk-bound economists.

This model led to shallow thinking and more importantly, to some misapplied policies. The author remembers clearly the Vice President of the World Bank, Hollis Chenery, in 1975 lecturing to the Indonesian Ministers of Finance and Planning on the singular importance of Physical capital accumulation.

As one result of the dominance of this approach, there was a widespread tendency to think of the structure of the Harrod-Domar model as a reflection of the real world. Many then viewed parameters of Harrod-Domar as actually pertaining to world experience. A list of disastrous policies by aid donors and recipient governments attributed to thinking fostered by misuse of variants of the Harrod-Domar model, presented below: A more detailed presentation of the Harrod-Domar model may be found in Dwight Perkins, Stephen Radelet and David Lindauer , Economics of Development, (6th edition 2006, Chapter 11).

Questions & Answers

where we get a research paper on Nano chemistry....?
Maira Reply
what are the products of Nano chemistry?
Maira Reply
There are lots of products of nano chemistry... Like nano coatings.....carbon fiber.. And lots of others..
learn
Even nanotechnology is pretty much all about chemistry... Its the chemistry on quantum or atomic level
learn
Google
da
no nanotechnology is also a part of physics and maths it requires angle formulas and some pressure regarding concepts
Bhagvanji
Preparation and Applications of Nanomaterial for Drug Delivery
Hafiz Reply
revolt
da
Application of nanotechnology in medicine
what is variations in raman spectra for nanomaterials
Jyoti Reply
I only see partial conversation and what's the question here!
Crow Reply
what about nanotechnology for water purification
RAW Reply
please someone correct me if I'm wrong but I think one can use nanoparticles, specially silver nanoparticles for water treatment.
Damian
yes that's correct
Professor
I think
Professor
Nasa has use it in the 60's, copper as water purification in the moon travel.
Alexandre
nanocopper obvius
Alexandre
what is the stm
Brian Reply
is there industrial application of fullrenes. What is the method to prepare fullrene on large scale.?
Rafiq
industrial application...? mmm I think on the medical side as drug carrier, but you should go deeper on your research, I may be wrong
Damian
How we are making nano material?
LITNING Reply
what is a peer
LITNING Reply
What is meant by 'nano scale'?
LITNING Reply
What is STMs full form?
LITNING
scanning tunneling microscope
Sahil
how nano science is used for hydrophobicity
Santosh
Do u think that Graphene and Fullrene fiber can be used to make Air Plane body structure the lightest and strongest. Rafiq
Rafiq
what is differents between GO and RGO?
Mahi
what is simplest way to understand the applications of nano robots used to detect the cancer affected cell of human body.? How this robot is carried to required site of body cell.? what will be the carrier material and how can be detected that correct delivery of drug is done Rafiq
Rafiq
if virus is killing to make ARTIFICIAL DNA OF GRAPHENE FOR KILLED THE VIRUS .THIS IS OUR ASSUMPTION
Anam
analytical skills graphene is prepared to kill any type viruses .
Anam
Any one who tell me about Preparation and application of Nanomaterial for drug Delivery
Hafiz
what is Nano technology ?
Bob Reply
write examples of Nano molecule?
Bob
The nanotechnology is as new science, to scale nanometric
brayan
nanotechnology is the study, desing, synthesis, manipulation and application of materials and functional systems through control of matter at nanoscale
Damian
Is there any normative that regulates the use of silver nanoparticles?
Damian Reply
what king of growth are you checking .?
Renato
What fields keep nano created devices from performing or assimulating ? Magnetic fields ? Are do they assimilate ?
Stoney Reply
why we need to study biomolecules, molecular biology in nanotechnology?
Adin Reply
?
Kyle
yes I'm doing my masters in nanotechnology, we are being studying all these domains as well..
Adin
why?
Adin
what school?
Kyle
biomolecules are e building blocks of every organics and inorganic materials.
Joe
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
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Source:  OpenStax, Economic development for the 21st century. OpenStax CNX. Jun 05, 2015 Download for free at http://legacy.cnx.org/content/col11747/1.12
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