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What is theories and patterns of structural change in economic development? Explain in your own words.
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- Do you believe that globalization has created new problems and exacerbated existing difficulties for many of the urban poor?write about Arthur Lewis's dual-sector model of development, and how this model sheds light on the enormous challenges that poor countries are facing in the decades ahead. Are there any policies these countries could enact to overcome these challenges?The Lewis Theory of Economic Development is a structural change model. With the aid of the figure below, discuss the rationale of the model and how the theory proposes countries can achieve self-sustaining economic growth.
- Why is a strictly economic definition of development inadequate? What do you understand economic development to mean? Can you give hypothetical or real examples of situations in which a country may be developing economically but still be underdeveloped?“The major hypothesis of the structural change model is that development is an identifiable process of growth and change, whose main features are similar in all countries.” What is this? Do you agree that all countries experience similar structural change?What evidence support for/against it?TRUE OR FALSE? The new growth theory emphasized the role of human capital development. The two major concerns of economics are demand and supply.