Back again with the meal deal prices! I am proud to say that this module is over for me, but without my work in creating this resource to assist in my learning of development economic theory, I would have been toast! This document consists of 73 pages detailing causes, theoretical solutions, impact...
Table of Contents
1.1 Part A (Logue, 2023)...................................................................................................................4
1.2 Poverty and Economic Development.....................................................................................4
1.2.1 Poverty Overview......................................................................................................................4
1.2.2 Overview of the UN Development Goals to tackle poverty over the Years............4
1.2.3 Africa Poverty Overview.........................................................................................................5
1.2.5 Calculating the Poverty Line.................................................................................................5
1.2.6 Purchasing Power Parity (PPP)...........................................................................................9
1.2.7 Traditional economic measures of Development:......................................................10
1.2.8 HDI and “Capability” Theory..............................................................................................10
1.2.9 Data on Low-Income Countries.........................................................................................11
1.2.10 Poverty Charts......................................................................................................................12
1.2.11 Ways to Measure Inequality:...........................................................................................14
1.3 Randomised Control Trials (RTCs)......................................................................................15
1.3.1 What are RTCs?.......................................................................................................................15
1.3.2 Recommended RTCs to Reduce Poverty..........................................................................16
1.3.3 A Note on the Lingo: A few initial important terms....................................................16
1.3.4 Selection Biases, Characteristics and Groups...............................................................17
1.3.5 RTC Pitfalls...............................................................................................................................18
1.3.6 Ethical issues with RTCs.......................................................................................................18
1.3.7 Social Issues with RTCs.........................................................................................................19
1.3.8 Arguments of RTCs.................................................................................................................19
1.3.9Alternatives to RTCs...............................................................................................................21
1.4 Education......................................................................................................................................22
1.4.1 MDGs, SDGs and Education Targets.................................................................................22
1.4.2 Education Problem for Child Development...................................................................22
1.4.3 What is the Problem for children entering Primary education?...........................23
1.4.4 Investments in Childhood Development Impact..........................................................25
1.4.5 Importance of Quality Education......................................................................................26
1.4.6 Tackling the Issue of Quality..............................................................................................27
1.4.7 Importance of Secondary/ Tertiary Education............................................................28
,1.4.8 S-Shaped Curve - EVAL Point...............................................................................................31
1.4.9 Private and Public Schooling Disparity..........................................................................32
1.4.10 A Link Between Poverty, Fertility and Family Size...................................................33
1.5 Fertility and Population Growth...........................................................................................34
1.5.1 Key Concepts and SDGs Relating to Fertility.................................................................34
1.5.2 Population and Fertility Graphs.......................................................................................35
1.5.3 The Malthusian Trap.............................................................................................................38
1.5.4 How to Escape the Population Trap.................................................................................40
1.5.5 Criticisms of the Malthusian Model..................................................................................41
1.5.6 Developing Countries Fighting Against the Malthusian Trap................................42
1.5.7 MATLAB Program - Driving Social Change...................................................................42
1.5.8 Profamilia Program - Helping Women Access Contraception................................44
1.5.9 China Example - Low Fertility and Higher Savings.....................................................45
1.5.10 Cause of High Fertility Rates............................................................................................45
Part B (Mullings, 2023)...................................................................................................................46
1.6 Classical Theories of economic development. Reason to explain the difference in
growth between different countries...........................................................................................46
1.6.1 Historical Worldwide Growth............................................................................................46
1.6.2 Development Growth and Linear-Stages Theories.....................................................49
1.6.3 The Lewis Model of modern-sector Growth in a Two-sector surplus-labour
Economy - Structural-Change Model..........................................................................................50
1.6.4 The international-dependence revolution....................................................................52
1.6.5 The neoclassical counterrevolution: market fundamentalism..............................52
1.6.6 Classic Theories of Development: reconciling the Differences...............................52
1.6.7 The Solow Neoclassical Growth Model............................................................................53
1.7 New Development Theories....................................................................................................55
1.7.1 Complementaries Needed for economic development..............................................55
1.7.2 Underdevelopment as a coordination failure:.............................................................56
1.7.3 Multiple Equilibria: A Diagrammatic Approach..........................................................57
1.7.4 Multiple Equilibrium - (Todaro & Smith, 2020)...........................................................58
1.7.5 The Big Push.............................................................................................................................60
1.7.6 The Big Push - (Todaro & Smith, 2020)..........................................................................60
, 1.7.7 Super Entrepreneurs (Todaro & Smith).........................................................................62
1.7.8 Other Key Terms.....................................................................................................................63
1.8 State and Development............................................................................................................64
1.8.1 Michael Kremer’s O-Ring Theory of Economic Development..................................64
1.8.2 Economic Development as Self-Discovery......................................................................66
1.8.3 The Hausmann-Rodrik-Velasco Growth Diagnostics Framework.........................67
1.8.4 Social contract theory - talking about the state..........................................................68
1.8.5 Development Planning: concepts and Rationale.........................................................68
1.9 Trade..............................................................................................................................................70
1.9.1 Key Features of Trade in Developing Countries:.........................................................70
1.9.2 Demand Elasticities and Export Earning Instability..................................................70
1.9.3 Comparative advantage theory:.......................................................................................70
1.9.4 The strategies for trade and trade policy, two main strategies:...........................73
1.9.5 Types of economic integration:.........................................................................................73
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller tommymantell. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £3.49. You're not tied to anything after your purchase.