Development Economics: Aspect of Development

Doctoral Thesis / Dissertation from the year 2013 in the subject Economics - Economic Cycle and Growth, grade: 4.0, ( Atlantic International University ) (BUSINESS STUDIES AND ECONOMICS), course: Development Studies, language: English, abstract: Development economics entail all the aspects of the development

process especially meant for the developing countries to overcome

the challenges that impede development. This can be through

education, education and man power development, restructuring

market incentives, incorporating favorable social and political

approaches and practices among other factors.

Human beings however need streamlined social and economic

systems that are able to achieve development through major

changes in social structures, national institutions, cultures and

attitudes as well as eradication of poverty, reduction of income

inequality and acceleration of economic growth. The developing

world needs a multi disciplinary approach and ideas so as to come

out of the economic backward situation. Micheal, P. (2003: 9)

describes that because of heterogeneity of the developing world, and

the complexity of the development process, development economics

must be eclectic, attempting to combine relevant concepts and

theories from traditional economics analysis along with new models

and broader multi disciplinary approaches from historical and co

temporally development experience of Africa, Asia, and Latin

America. Debraj Ray (2007) puts it that development economics

studies economics of the developing world and has made excellent use of economic theory, econometrics, anthropology, sociology,

political science, biology and demography. It needs a lot more

dimensional approach to understand it. Other scholars have tried to

bring about the key issues that are in development economics such

as Dasgupa (1998), Hoff, Braverman and stiglitz (1993), Ray (1998),

Bardhan and Udry (1999), Mookerjee and Ray (2001), and

Sen(1999).[...]