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Development economics: from the traditional approaches to the new concepts
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Orientador(es)
Resumo(s)
Development economics centres its analysis on the specific problems of less developed
countries. Its main goal is to find answers to the following question: 'how can low-income
economies in the world today be set on the track to sustained economic development for the
immediate goal of reducing poverty and the long-run goal of catching up on the wealth of
developed economies?' (Hayami and Godo, 2005: 2 [1]).
Many answers to this fundamental question have been presented. We survey the central
elements that characterize four important theoretical approaches in Development Economics,
namely : (i) modernization theories; (ii) dependency theories ; (iii) world-system theory;
(iv) neoclassical counter-revolution.
However, the "old" notion of economic development, which considers as its main goal
the reduction of inequality in terms of per capita income, seems to be insufficient to cover the
amplitude and complexity of development problems. Therefore, it is not surprising that the
notion of development has been expanded through the consideration of new dimensions, with
the adding of many adjectives to the word "development" - "human", " local" and "sustainable"
development being the most frequently mentioned.
The main objective of this paper is to produce a concise survey of this range of
contributions frequently analyzed separately. Together with the contributions of traditional
development economics, these new development concepts - human, local and sustainable offer
a theoretical wealth which, in their globality, allow a more appropriate understanding of
the complex and multi-dimensional phenomenon of development.
Descrição
Comunicação apresentada em International Conference “New Challenges of Economic and Business Development" - 2012, Riga
Palavras-chave
Development Sustainable development Human development Local development Development economics