Models of Development
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Transcript of Models of Development
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Models of
Development
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What’s a model ???• A model is the “standard”
• Serves as a basis for comparison
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Models We’ve Studied…
• Demographic Transition Model
• Epidemiological Transition Model
• Ravenstein’s laws of migration
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International Trade Model
orRostow’s
Development Model
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Stage 1: Traditional Society
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Stage 2: Pre-Conditions for take-
off: Initial Investment
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Stage 3: Take-Off: Initial Success
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Stage 4: Drive to Maturity: Technology
Diffuses
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Stage 5: Age of Mass Production: Shift to
Consumer Good Production
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The Four Asian Dragons
• South Korea
• Singapore
• Hong Kong
• Taiwan
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Problems with Rostow
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Self-Sufficiency Model
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India
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Self-Sufficiency Problems
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Financing Development
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Neocolonialism• The economic control of LDCs by MDCs
• IMF/World Bank are criticized for this as well as corporations owned by MDCs
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Core-Periphery• MDCs = core
• LDCs = periphery
• Pg. 302
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Microcredit• Very small loans given to impoverished
borrowers (in LDCs) to assist in economic development.
• The Grameen Bank