By Keith Griffin
The query of other ideas for financial improvement is the topic of significant controversy and extreme debate among practitioners and lecturers keen on monetary and social growth within the 3rd global. The center of this publication is an research of the six most generally followed innovations of improvement specifically monetarism, the open economic system, industrialisation, the fairway revolution or agriculture-led improvement, redistributive concepts of improvement and socialist strategies.
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Translated via Patrick L. Gallagher, Kent country University
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Additional info for Alternative Strategies for Economic Development
XXI, No. 3, September 1983, Table 1, p. 958 (for the qualitative estimates). Column (3): OECD Development Centre data files. Finally, let us consider the most recent period, 1950-1984. 2 except one, namely Ghana, experienced positive rates of growth of GDP per capita. The trend in Ghana since independence has been sharply negative and living standards have declined precipitously. In a number of Latin American countries - Mexico, Chile, Colombia and Peru - the trend rate of growth in the 34 years after 1950 was lower than in the 37 years before 1950.
Larger households do of course enjoy some economies of scale, but this is unlikely to compensate for the disadvantage of more mouths to feed. It would be better to have data grouped by household per capita income. 8 Columns (I)-(4): IBRD, World Development Report 1985, New York, Oxford University Press, 1985, World Development Indicators, Table 28, pp. 228-9. Three different indicators of inequality are presented in the Table. First, in columns (2) - (4) the distribution of income by quintiles is displayed.
If the growth rates were weighted by size of population the average would be much lower. Even so, it would be wrong to think that the series of crises during this period in what are now the OECD countries created crises of 4 similar magnitude and duration throughout the Third World. A number of Third World countries prospered during this period and introduced significant structural change. This occurred particularly in those countries which managed to avoid becoming a battlefield in the world wars and which also were independent and thus were able to design their own development strategies.
Alternative Strategies for Economic Development by Keith Griffin