Characteristics of Underdeveloped countries are divided into common and uncommon characteristics and these are following. A) Common Characteristics of...
Development Economics
Unemployment: Unemployment is the condition of not having a job, often referred to as being “out of work”, or unemployed. Not having a job when a...
Inflation: Prof. Gardener Ackley has Defined Inflation in the Following Words: “When the price level rises continually with a great speed, this situation...
Economic planning has become a craze in modern times. It initiates, controls and regulates the economic activities by the state, with a view to achieving well...
Economic planning implies the setting of certain targets which are tried to be achieved within a planned period. The targets are to be accomplished through...
Planning is regarded as a solution for all economic ills. It is therefore, advocated for the achievement of a variety of objectives. The objectives are not the...
Different economists have used various measures to access the level of development at a particular time. Some measures have been given below: Prof. W.W...
Economic Growth: Economic growth may be distinguished from economic development. Economic growth may be defined as the increase in production or consumption by...
It is commonly said that the economic development started after the year 1800. In this respect Angus Maddison who was an economic historical analysed the world...
There are a large number of definitions given by different economists. These are as follows: Prof. W. Elkan says, “Economic development means a process...
As we have already told that the economic development is neither traditional neo- classical economics, nor it is political economy it is just a body of...
The study of economic development is one of the newest, most dashing and most attracting branches of the broader disciplines of economics and political economy...
The Traditional Economics deals basically with the efficient, least cost allocation of scarce productive resources and with the optimal growth of these...
In the World’s Development Report of 1995, it was said that more than three-fourth of population lives in poor and less developed countries but they get...
Reasons or Need for Studying Development Economics or Scope of Development Economics Here we shall concentrate upon that what is the need behind studying...
In the 17th century there emerged Industrial Revolution in Europe accompanied by a wider use of machines rather manpower; there was a chain of discoveries and...
We now pass from statics or comparative statics to dynamic analysis. In static analysis, for example, we discuss how equilibrium price is determined when the...
Requisites/Strategy of Economic Planning: It has been universally accepted that economic planning is essential for accelerating economic development in...
Importance/Need/Role/Justification/Rationale of Economic Planning: In the under-developed countries of the world, there is a strong and powerful conviction...
Concept of Economic Planning: There was no concept of economic planning before the Twentieth century all around the world. The idea of economic planning goes...