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

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 … Read more

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 … Read more

The important group of theories within the Marxist framework is those of the neo-Marxists such as A.G.Frank, Wallerstein and Samir Amin. By the late sixties, the US led mission to modernise the Third World and guide it towards liberal capitalist democracy was increasingly challenged by economic nationalism in Latin America, Africa and Asia. Under these … Read more