Classic Theories of

Economic Growth
and Development
G r e g o r i o , R a d h a E .
L u m a h a n , M i c h a e l A n d r e i B .
T o l e n t i n o , A n d r e a Q .
the historical and intellectual evolution in scholarly
thinking about how and why development does or does
not take place.
What is Development?
The Four Approaches in the
Classical Theories of Economic
Development
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P R E S E N T A T I O
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L i n e a r
S t a g e s o f
G r o w t h
m o d e l
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P R E S E N T A T I O
N

T h e o r i e s
a n d
P a t t e r n s
o f
S t r u c t u r a l
C h a n g e
 Q U A N T I I T E S
P R E S E N T A T I O
N

International
Dependence
revolution
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N

N e o c l a s s i c a l
f r e e m a r k e t
c o u n t e r -
r e v o l u t i o n
Linear Stages Theories
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Stages-of- Growth Model of

Development
•

•
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Harrod-Domar Growth Model

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Structural Change Theory
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O U R
H I S T O R Y
Lewis Two-Sector Q U A N T I I T E S
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model
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O U R
H I S T O R Y

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O U R
H I S T O R Y
Patterns-of-development analysis

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International Dependence
Revolution
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O U R
H I S T O R Y
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N

O U R
H I S T O R Y
Neoclassical Dependence Model
-
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False Paradigm Model

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Dualistic Development Thesis

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The advocates of the above models, although

they have ideological differences, commonly
reject the exclusive emphasis on
neoclassical traditional economic theories
designed to accelerate the growth of GDP as
the principal index of development.
The Neoclassical
Counterrevolution
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