Q1. Suppose you are a Development Economist working at the United Nations Development Program and you...

Q1. Suppose you are a Development Economist working at the United Nations Development Program and you are provided with the following information:

The Human Development Report shows that the HDI of South Africa was 0.653 (and its rank was 121) and that of the Peru was 0.767 (and its rank was 82). South Africa’s per capita income (in PPP dollars) was 11,192 and that of Peru was 5,678.

Comment and explain how you will analyze these countries economic development strategies?

Q2. Briefly explain what makes the Lewis model a “development” model rather than an “economic growth” model?

Q3. During the past decade, India has invested about 22% of its GDP while China’s investment rate has been double that of India’s. India’s annual growth rate has been about 6% while that of China has been about 9%. What conclusions can you draw in terms of economic growth and development theories and models?

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Expert Solution

Rahul Sunny answered 1 year ago

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