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      Chapter

      Developmentalist theories of economic development
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      Chapter

      Developmentalist theories of economic development

      DOI link for Developmentalist theories of economic development

      Developmentalist theories of economic development book

      Developmentalist theories of economic development

      DOI link for Developmentalist theories of economic development

      Developmentalist theories of economic development book

      ByJames M. Cypher
      BookThe Process of Economic Development

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      Edition 5th Edition
      First Published 2020
      Imprint Routledge
      Pages 36
      eBook ISBN 9780429289248
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      ABSTRACT

      This chapter examines some of the leading theories of the developmentalists. Their theories and recommendations are more pragmatic and operational than the neoclassical or classical formulations. The theories were devised with an eye to directly affecting public policy in the less-developed countries. A "big push" of concurrent industrial investments could launch a chain reaction of virtuous circles and complementary investments that would then ripple in many directions through the economic system. Hirschman's own interpretation of the relationship of his work to that of Rosenstein-Rodan and Nurkse was that he was a dissenter within the framework of the big-push/balanced growth paradigm. Because Hirschman employed the term unbalanced growth in his major work (1958) on economic development, and because his seminal work came considerably later than the ideas expressed by Rosenstein-Rodan and Nurkse, it has been commonly assumed that Hirschman’s work was to be interpreted as an attack on the theory of big-push or balanced growth.

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