The approach represented by the World Bank and other main stream development analysts in analysing the East Asian model of development has been subject to criticism by Dependency theorists. The main concerns of the Dependency theorists in understanding the East Asian model are the functioning of the world capitalist economy, colonialism, imperialism, the role of … Read more
One of the most ignored issues in analysing the underlying processes of rapid growth of East Asian economies by mainstream development analysts is the character of the contemporary state system in the region. They have not considered the view that the nature of reform has varied depending on political structures and the relative strength of … Read more
The World Bank had a critical opinion towards the nature of welfare measures taken up by developing countries for a long time. The World Bank opined that the attempts to guide resource allocation during the past thirty years have generally failed to improve economic performance. The Bank came to this conclusion by simply dismissing these … Read more
The World Bank published a document in 1989 under its countrywide research project titled ‘The East Asian Miracle’. This study broadly comprised of a view that development for less developed nations will not be so much a repetition of the Euro-American development as previously envisaged by modernization theory. Now, the development for third world is … Read more