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ENUMERATE SOME INTERPRETATIONS OF THE FOUR-SECTOR MODEL
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- What is the two sector model?A large part of China's growth was due to export-led investment. They used the country's centralized authority to coordinate investments across industries. As more producers located in China, the greater the benefits were for other suppliers to operate there. What economic growth model is this statement consistent with? Lewis two-sector model The Big Push Kremer's O-Ring Theory Neocolonial Dependence ModelWhy do mainstream institution theories have a highly problematic understanding of the relationship between instetutions and economic development?
- Define Globalisation and outline some of the main features of this phenomenon.Modified True or False The Lewis Theory of Economic Development assumed two distinct sectors, namely, Capitalist Sector and Subsistence Sector.Draw the circular flow model and in your own words, discuss the operation of capitalism.
- Using the ideas of Andre Gunder Franks’ Dependency theory and that of David Slater’s spatial theory of underdevelopment in Africa, explain how globalisation promotes or constraints the development process in sub-Saharan AfricaAmong Neocolonial Dependence Model, the False Paradigm Model and the Dualistic Development, which is the best to develop and grow a country's economy?Ricardo’s economic growth model can be recognized as an endogenous model. True or False