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The Strategy of Economic Development is a 1958 book on economic development by Albert O. Hirschman. Hirschman critiques the theories of balanced growth put forward by Ragnar Nurkse and Paul Rosenstein-Rodan , which call for simultaneous, large-scale increases in investment across multiple sectors to spur economic growth.
The balanced growth theory is an economic theory pioneered by the economist Ragnar Nurkse (1907–1959). The theory hypothesises that the government of any underdeveloped country needs to make large investments in a number of industries simultaneously.
The theory is generally associated with Hirschman. He presented a complete theoretical formulation of the strategy. Underdeveloped countries display common characteristics: low levels of GNI per capita and slow GNI per capita growth, large income inequalities and widespread poverty, low levels of productivity, great dependence on agriculture, a backward industrial structure, a high proportion ...
An endogenous growth theory implication is that policies that embrace openness, competition, change and innovation will promote growth. [ citation needed ] Conversely, policies that have the effect of restricting or slowing change by protecting or favouring particular existing industries or firms are likely, over time, to slow growth to the ...
The implication of this is that poverty will ultimately disappear 'by itself'. It does not explain why some nations have had zero growth for many decades (e.g. in Sub-Saharan Africa) Conditional convergence: A country's income per worker converges to a country-specific long-run level as determined by the structural characteristics of that country.
Generating income from options strategies is a generally lower-risk strategy than trying to multiply your money through buying naked calls and puts. That certainly doesn’t mean it’s low risk ...
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In finance, an investment strategy is a set of rules, behaviors or procedures, designed to guide an investor's selection of an investment portfolio. Individuals have different profit objectives, and their individual skills make different tactics and strategies appropriate. [1] Some choices involve a tradeoff between risk and return. Most ...
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