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Management, Vol. 2, Issue 2, Apr  2018, Pages 13-30; DOI: 10.31058/j.mana.2018.22007 10.31058/j.mana.2018.22007

Economic Development, a Reflection

Management, Vol. 2, Issue 2, Apr  2018, Pages 13-30.

DOI: 10.31058/j.mana.2018.22007

Diana Loubaki *1 , Joseph E. Mata 2

1 Department of Economics/ISG, University Marien Ngouabi, Brazzaville, Republic of Congo

2 Department of Economics/FSE, University Marien Ngouabi, Brazzaville, Republic of Congo

Received: 17 December 2017; Accepted: 25 January 2018; Published: 15 May 2018

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Abstract

This article surveys development economics studies and shows how it looks for mechanisms able to lead to the long run growth in poorest countries located in Africa, Latin America and other Asian countries. It surveys the way development economics policies tries to improve poorest countries’ population life conditions since the beginning of the emergence of the field. In order to achieve development take-off, economic policies use theories and analysis methods allowing sustainable development to settle. Indexes are also used in order to appreciate populations’ wellbeing improvements through the time. The necessity of development economics to converge toward market based economy in this 21th century legitimate the need for the best policy to adopt for it to be successful, which turn out to be a preliminary condition for the neoclassical theory to be applied in order to yield less advanced economies stimulate economic growth like in industrialized countries.

Keywords

Development, Growth, Sustainability, Environment, Economic Theory, Structural Adjustment Policy, Washington Consensus, Pekin Consensus, Millennium Development Goals, Foreign Direct investment

Copyright

© 2017 by the authors. Licensee International Technology and Science Publications (UK). This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

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