Identify and briefly describe the variety of strategies available to developing countries that choose to pursue an economic growth/industrialization path. Define the conditions that apparently need to be in place for this development process to happen
Analyze the structure, process, and feasibility of economic development in the 21st century.
What will be an ideal response?
Ideal Answer: The ideal answer should include:
1. Recall and describe strategies for pursuing economic growth/industrialization.
2. Explain the necessary conditions for development, touching on export-led growth, import substitution, microcredit, technology transfer, and other concepts.
3. Analyze the structure, process and feasibility of 21st century economic development, keeping in mind such challenging issues as brain drain, debt, IMF conditionality, disaster recovery, and more.
4. Offer a concise summary and effective conclusion.
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