Alternative Strategies for Economic Development by Keith Griffin

By Keith Griffin

The query of different innovations for financial improvement is the topic of serious controversy and severe debate among practitioners and teachers desirous about financial and social development within the 3rd international. The middle of this ebook is an research of the six most generally followed suggestions of improvement specifically monetarism, the open economic climate, industrialisation, the golf green revolution or agriculture-led improvement, redistributive suggestions of improvement and socialist strategies.

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The people of China and Sri Lanka, countries with very low average incomes, enjoy a life expectancy higher than that of many upper middle-income developing countries such as Brazil, Mexico and Iran. Peru, on the other hand, has a lower life expectancy than the Philippines despite the fact that average incomes in Peru are half again as high as in the Philippines. Growth of output evidently is not sufficient to increase longevity: the pattern of growth, the strategy of development as reflected in public action also is vital 18.

The developing countries have everything they need for growth. The potential is there. It is only necessary to exploit it. Lewis, it should be added, did not recommend that the developed countries should sink under the sea; he simply made the important point that the poor countries need not be dependent on the rich; they have the capacity for autonomous growth. Some countries, of course, have exploited the potential for growth more effectively than others, although all countries have experienced relatively good times and bad.

8 per cent) in the period since independence. That is, the best performances by the developing countries are as good as or better than those by the developed countries. On the other hand, no developed country in our sample performed as poorly as the least successful countries in our sample from the Third World. More important, the average rate of growth in the two samples of countries is practically identical. 5 per cent a year per head in the 34 years beginning in 1950. This in itself is a remarkable achievement given the handicaps the late developers face.

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