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12 - Politics of Economic Development.docx

4 Pages

Political Science
Course Code
POLI 227
Rex Brynen

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12Politics of Economic DevelopmentEconomic DevelopmentPatterns of economic management Handelman o Command o Statist o Developmentalo NeoclassicalEconomic strategy o Importsubstitution industrialization ISI o Exportoriented industrialization EOIPrimary productsManufactures o autarchyComplete self relianceno tradeFew countries try this because it doesnt workDependency approacho The obstaclesMNCsMajor ones are westernPrimary productsVulnerability to fluctuations in commodity pricesHeavy dependence in Africa TechnologyWestern dominationDebtHigh debt burdensThe limits of official development assistanceToo little and doesnt question structural realities o SolutionsExpanded state rolenationalizationBut often bloated inefficient public sectorDecoupling ISIBut advantages of tradeProducer cartelsBut require inelastic product low stocks robust suppliers cohesion control over supplyDependent capitalist developmentNeoliberal approach
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