Essay qu: To what extent to institutions explain the contrasting growth and development of China and SSA since 2000?
Outcomes are to:
1. Evaluate the importance of institutions to economic growth and development.
2. Apply theory to explain the differences in economic growth between nations
3. Context ualise growth and development experience of china and SSA.
Areas to discuss:
– Define institutions and why they’re important
– Classical growth theory = is there a limit to growth?
– How growth and development are measured and the causes of it
– Rostows Linear Stages Theory and Harrod-Domar’s theory of development
– Underlying causes of growth and particularly why some countries are able to grow faster than others – namely institutions.
– ‘Resource Curse’ and Dependency Theory – ideas that arguably explains poor growth performance in some developing countries.
– Explain the economic situation in China at the end of the 1970’s. – Explain the key areas of reform and policies to address specific problems and Relate these reforms to institutional theory.
Identify and explain the various factors that may explain SSA’s historical poor growth performance.
– Explain the influence of institutions and the nature of the state on development in sub-Saharan Africa.
– Explain the changing business environment in sub-Saharan African countries.
– Explain the opportunities and challenges that investors face in this changing environment.
