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Development theory is a collection of theories about how desirable change in society is best achieved. Such theories draw on a variety of social science disciplines and approaches. In this article, multiple theories are discussed, as are recent developments with regard to these theories.
Dependency theory is the idea that resources flow from a "periphery" of poor and exploited states to a "core" of wealthy states, enriching the latter at the expense of the former. A central contention of dependency theory is that poor states are impoverished and rich ones enriched by the way poor states are integrated into the " world system ".
Wallerstein's definition follows dependency theory, which intended to combine the developments of the different societies since the 16th century in different regions into one collective development. The main characteristic of his definition is the development of a global division of labour, including the existence of independent political units ...
Development economics is a branch of economics that deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health ...
The North–South model, developed largely by Columbia University economics professor Ronald Findlay, is a model in developmental economics that explains the growth of a less developed "South" or "periphery" economy that interacts through trade with a more developed "North" or "core" economy. The North–South model is used by dependencia ...
Theory. The "Dual Sector Model" is a theory of development in which surplus labor from traditional agricultural sector is transferred to the modern industrial sector whose growth over time absorbs the surplus labor, promotes industrialization and stimulates sustained development. In the model, the traditional agricultural sector is typically ...
t. e. The Big Push Model is a concept in development economics or welfare economics that emphasizes the fact that a firm 's decision whether to industrialize or not depends on the expectation of what other firms will do. It assumes economies of scale and oligopolistic market structure. It also explains when the industrialization would happen.
t. e. The Fei–Ranis model of economic growth is a dualism model in developmental economics or welfare economics that has been developed by John C. H. Fei and Gustav Ranis and can be understood as an extension of the Lewis model. It is also known as the Surplus Labor model. [1] It recognizes the presence of a dual economy comprising both the ...