GEOG 216 Lecture Notes - Lecture 10: Marshall Plan, Import Substitution Industrialization, Absolute Advantage
18 Nov 2016
School
Department
Course
Professor
Document Summary
Lecture 10 - development theories & pathways th. Marshall plan -> what is development? let"s redevelop europe! Where you are in the development process profoundly influences what you think about it. Endogenous growth theory economic growth isn"t just driven by land labour capital important thing: technological change you need to bring technological change into the picture, and let it interact with land, labour, and capital. Production linkages: growth of one sector stimulates the growth of another sector. Production of certain products facilitates new demand, which facilitates new. Those related to the government revenues linkages promoted through export-led growth problems: sluggish demand volatile prices unbalanced growth. Inward looking industrialization promotion of industries that produces for the domestic market. We got to pick certain industries to promote. Very expensive it also means vulnerability primary products that are vulnerable to what"s happening on global stage, they"re very vulnerable to what happens within the country.
