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…

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…

The East Asian Miracle has been an important theme in contemporary literature on development. There are wide range of efforts on the part of academicians, policy makers and politicians to universalise the experiences of East Asian Model of Development . A key approach to the East Asian development as illustrated by the World Bank’s and…

World-System theory of Wallerstien based on the assumption that a particular country’s internal development may only be understood with reference to the position it occupies, or the role it plays, in the modern world system as a whole. He traced the historical development of capitalism, by focusing on the insurgence and functioning of an international…