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Economic Structural Changes and Growth

In: Social Issues

Submitted By Fikakubuswa
Words 3839
Pages 16
Human development in a basis of brainpower is one of the most fundamental cause not only economic development but also in terms of development in general. Human endures intellect toward productive growth in developed countries which mainly relies on technological innovation. However, as for developing countries, growth and development follows developed countries by forcing the technology mechanism and changing the structure of production towards activities with higher levels of productivity. The evidence show that during 1970s and 1980s there were of structural changes in economic activities where developing countries enters the global markets. In his preface, Giplin (2001; xi) point out that “…important step toward the creation of a truly global economy, since the mid-1980s the world has also witnessed the extraordinary growth of economic regionalism as a countermovement to economic globalization.” Similarly, Magdoff (1992; 50) state that “In fact, capital exports have helped shape the evolving global economy ever since the end of the Second World War”. Moreover, Glyn and Sutcliffe (1992; 79) point out that “…left the world economy leaderless in the 1970s and 1980s with increasingly open economies disciplined by market forces, but without a unique center of gravity.” This implies that global economies forces t
To provide a well-structured discussion, this essay will begin by briefly introducing into how neo-liberalism in the mainstream of development thinking greatly achieve its victory of defence mechanism for a new wave of market orientation intervention, before discussing the structural changes. It will then provide explanation on how these structural changes resulted to globalisation. It will also examine the economic policy making implication of the state in general. It will then conclude by looking at the practical outcome experience by the developing...

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