Swings of the Pendulum: A Review of Theory and Practice in Development Economics

2000 ◽  
Vol 44 (1) ◽  
pp. 17-23 ◽  
Author(s):  
A.J. Kondonassis ◽  
A.G. Malliaris ◽  
T.O. Okediji
Keyword(s):  
Economic Development ◽  
Development Economics ◽  
Evolutionary Process ◽  
Developed Countries ◽  
Development Planning ◽  
Theory And Practice ◽  
Less Developed Countries ◽  
Current State ◽  
Planning Strategies ◽  
Country Specific

The first purpose of this paper is to reveal some insights offered by our experiences in theorizing about development economics and in doing so to shed some light on the current state of economic development. The second purpose of this paper is to review some practices of economic development planning. These practices have initially followed swings in antithetical positions. Yet, it will be argued that eventually development practices have followed a synthetic or evolutionary process. Some of the findings of the paper include that theories and policies have a time and place; that development planning strategies must recognize both the economic and non economic characteristics of less developed countries; that development planning strategies should be country specific.

scholarly journals Development Economics and the issues of poverty and social inequalities

2017 ◽  
Vol 20 (6) ◽  
pp. 123-132
Author(s):  
Ryszard Piasecki
Keyword(s):  
Economic Development ◽  
Interest Rates ◽  
Development Economics ◽  
Social Inequalities ◽  
Physical Capital ◽  
Developed Countries ◽  
Theory And Practice ◽  
Economic Science ◽  
Extensive Literature ◽  
Market Failures

Development economics emerged as a separate discipline of economic science in the 1950s but it wasn’t until the 1960s and mid-1970s that it began to draw serious attention. Gradually, an extensive literature concerning economic development was built up. In the 1980s it turned out, however, that despite some successes, the economic growth in most of medium and less developed countries was not as high as expected. During the 1980s and 1990s, the so-called Washington Consensus dominated the theory and practice of economic development. This notion covered the whole range of activities that were to lead the developing countries to improved welfare and prosperity. It included strict fiscal and monetary policies, deregulation, foreign trade and capital flow liberalisation, elimination of government subsidies, moderate taxation, liberalisation of interest rates, maintaining low inflation, etc. Based on the developmental experience of over past ten years, a new paradigm of development is emerging, the elements of which can be described as follows: (1) the basic economic environment should encourage the long-term investment in (2) the economy should have a high sensitivity to market stimuli (3) human capital must complement physical capital (4) due to the fast flow and absorption of information in the rapidly changing world, the key role is played by institutions and mechanisms that jointly respond to stimuli (5) wherever market failures occur, an intervention of the state should be market-friendly 6) social equality must be guaranteed if the economic development is to take place on a sustainable basis.

A Huge Marketing Research Task—Birth Control

1968 ◽  
Vol 5 (1) ◽  
pp. 21-27
Author(s):  
Julian L Simon
Keyword(s):  
Economic Development ◽  
Family Planning ◽  
Birth Control ◽  
Marketing Research ◽  
Developed Countries ◽  
Less Developed Countries ◽  
Research Task

Increasing the amount of family planning in less-developed countries is crucial to their economic development and is basically a marketing job. Much important marketing research has been done in this area; its history is described here. But much more needs to be done.

Analysis on the Overall Characteristics and Laws of Economic Development

2011 ◽  
Vol 225-226 ◽  
pp. 174-177
Author(s):  
Yue Huang
Keyword(s):  
Information Technology ◽  
Developing Countries ◽  
Economic Development ◽  
Developed Countries ◽  
Less Developed Countries ◽  
Information Economy ◽  
Self Sufficiency ◽  
History Of ◽  
Economics Model ◽  
Economical Development

In light of current world economics heading towards a direction that demands a refurbished theoretical guidance, Huang, Mu and Huang’s (1990, 1991) “Overall Development of Global Economics” model - also affectionately known as the "4-ways, 2-forms" hypothesis - serves as a research guideline and a basic framework of economical development problems. Economical development throughout the history of mankind has experienced three phases, each phase bearing its own characteristics. While today’s developing countries linger in the era of nature driven self-sufficiency, developed countries have surged ahead into a phase of post-information economy where information technology serves as the backbone of Information Economic Era. At present, the financial disparities between nations often and inevitably produce conflicts driven by socio-economical differences and the resultant ideologies. What are the orientations in economic development for less developed countries, developing countries and developed countries? Why does conflict between them arise and what causes this? How can they be resolved? These have become focal issues of concern among economist.

Social Development and Foreign Policy

1960 ◽  
Vol 329 (1) ◽  
pp. 144-153
Author(s):  
Walter M. Kotschnig
Keyword(s):  
Foreign Policy ◽  
Social Impact ◽  
Developed Countries ◽  
Development Planning ◽  
Less Developed Countries ◽  
Social Growth ◽  
Nomic Development ◽  
Social Objective ◽  
Chief Factors ◽  
Aid Programs

The contemporary realization of the importance of international progress in the economic and social fields, and particularly the development of the less-developed countries, has added a new dimension to foreign policy and resulted in vast foreign aid programs. Chief factors in this development are the unprecedented acceleration in population growth occur ring primarily in the less-developed countries least able to sus tain it, the "revolution of rising expectations," and Communist penetration. In addition to an increase in financial and tech nical assistance to the less-developed countries, the free world, building on strength, must emphasize that the purpose of eco nomic development is a social objective and that the methods used to promote development cannot be divorced from the overriding social objective without destroying the objective itself. Development planning should aim at balanced economic and social growth and stress economic programs with an early social impact in terms of improved levels of living, and social programs designed to further economic growth.

scholarly journals Biodiversity offsets in theory and practice

Oryx ◽  
2013 ◽  
Vol 47 (3) ◽  
pp. 369-380 ◽  
Author(s):  
Joseph W. Bull ◽  
K. Blake Suttle ◽  
Ascelin Gordon ◽  
Navinder J. Singh ◽  
E. J. Milner-Gulland
Keyword(s):  
Economic Development ◽  
Conceptual Framework ◽  
Research Agenda ◽  
Evaluation Criteria ◽  
Developed Countries ◽  
Theory And Practice ◽  
Critical Stage ◽  
Full Compliance ◽  
Biodiversity Offsets ◽  
Biodiversity Offset

AbstractBiodiversity offsets are an increasingly popular yet controversial tool in conservation. Their popularity lies in their potential to meet the objectives of biodiversity conservation and of economic development in tandem; the controversy lies in the need to accept ecological losses in return for uncertain gains. The offsetting approach is being widely adopted, even though its methodologies and the overriding conceptual framework are still under development. This review of biodiversity offsetting evaluates implementation to date and synthesizes outstanding theoretical and practical problems. We begin by outlining the criteria that make biodiversity offsets unique and then explore the suite of conceptual challenges arising from these criteria and indicate potential design solutions. We find that biodiversity offset schemes have been inconsistent in meeting conservation objectives because of the challenge of ensuring full compliance and effective monitoring and because of conceptual flaws in the approach itself. Evidence to support this conclusion comes primarily from developed countries, although offsets are increasingly being implemented in the developing world. We are at a critical stage: biodiversity offsets risk becoming responses to immediate development and conservation needs without an overriding conceptual framework to provide guidance and evaluation criteria. We clarify the meaning of the term biodiversity offset and propose a framework that integrates the consideration of theoretical and practical challenges in the offset process. We also propose a research agenda for specific topics around metrics, baselines and uncertainty.

scholarly journals The Role of Marketing and Business Approach on SME Development

Ekonomika ◽  
2020 ◽  
Vol 98 (2) ◽  
pp. 76-84
Author(s):  
Hykmete Bajrami ◽  
Vjosa Fejza
Keyword(s):  
Economic Development ◽  
Ad Hoc ◽  
Small And Medium Enterprises ◽  
Developed Countries ◽  
Theory And Practice ◽  
Foreign Assistance ◽  
Post Conflict ◽  
The Government ◽  
Business Approach

Almost two decades after the war, Kosovo is an import-based consumption economy. Its weak export does not get any closer to imports, and this makes the country dependent on foreign assistance and remittances. The structure of the economy, with trade as a dominating undertaking, a sustenance-based agricultur,e and very limited production facilities, is a very fragile ground for economic development. Incentives to attract FDI were not competitive with neighboring countries and the country development is still lagging behind. In this respect, the lack of a proper marketing and business approach is present too. Theory and practice from developed countries show that firms that want to increase sales produce what is needed or/and wanted from costumers. In most of the market economy countries, when one wants to engage in business, the first step to start is market research; this rarely happens in Kosovo, people go in business almost ad hoc. Evidence shows that firms do neglect marketing by being mainly sales-oriented; they do produce what they think is good for the costumers and then use lots of resources to convince them that this is what they need. In general, this paper analyses the dynamics of economic development in Kosovo in post-conflict time, the government efforts to change the economic structure, its constraints with emphasis on perception of marketing and the role of consumers for SMEs in the country. In particular, the paper tries to explain why companies need to change their way of doing business; hence, it recommends the change of their business approach. The research, done with 200 small and medium enterprises (SMEs) in Kosovo, shows there are rather few firms that understand marketing and through it fight competition and strive to establish long-term relationships with their customers.

scholarly journals The socio-economic history of Lithuania from the 16th to the 19th century (until 1861) from the perspective of economic development concepts

2013 ◽  
Vol 5 (2) ◽  
pp. 57-90
Author(s):  
Darius Žiemelis
Keyword(s):  
Economic Development ◽  
Economic History ◽  
Western Europe ◽  
Social Economic ◽  
Max Weber ◽  
Developed Countries ◽  
Economic Life ◽  
Less Developed Countries ◽  
Immanuel Wallerstein ◽  
The 19Th Century

The article is devoted to the presentation of the economic conceptions of the most influential non-Marxist (Karl Bücher, Max Weber) and neo-Marxists (Witold Kula, Immanuel Wallerstein) disclosing their analytical value in the investigations of the typologization of Lithuania‘s social economic history in the 16th-19th centuries (up to 1861). It is established that K. Bücher’s and M. Weber’s conceptions of economic development are best suited to analyze the qualitative changes in the organization of the economic life of the most developed countries in Western Europe (primarily – England) rather than the socio-economic reality of the less developed countries. For the research of the latter better suited are the Marxist (W. Kula‘s model of the feudal economy) and the neo-Marxist (I. Wallerstein’s capitalist world-system conception) concepts analyzing the economic development of less developed countries. The typological diagnosis of Lithuania‘s social economic history in the 16th-19th centuries (up to 1861) is presented.

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