The dependency theory

Docs en anglais | 8 pages | 29-04-2006 | Format : | Note : Non noté

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Résumé

Dependency theory argues that developed ‘core' countries grow richer at the expense of ‘underdevelopment' in peripheral countries. The validity of this argument is assessed with specific references to the experience of one or more developing countries. Word count: 2,364.

Extract:

In the sixties and seventies, the failures or the stagnation recorded by many countries within the context of decolonization (in Africa), of wars of national liberation, and of guerrilla wars led to the radicalization of the development economics. The notions of centre and periphery were coming to the fore. The underdevelopment was perceived as the result of external causes, as a product of imperialism and colonialism. The dependency theory and the "centre-periphery" analyse were appearing during this period.

It is possible to summarize the opposition between "centre" and "periphery" after Prebisch. The "centre" is developed whereas the "periphery" is less developed. The demand for product of the "centre" rapidly increases, while the demand for the product of less developed countries only slowly goes up. Moreover, the "centre" mainly exports manufactured articles and imports food products and raw materials. On the other hand, the "periphery" exports mainly food products and raw materials but import manufactured goods. It has been found that terms of trade over the years become favourable for developed countries, but they become unfavourable for less developed countries. Export market is monopolistic in developed countries, but is competitive in less developed countries ...

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