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This study empirically tested the two competing development theories--modernization and dependency/world-system. Theoretical and methodological approaches suggested by these two paradigms offer opposing interpretations of the incorporation of the Third World countries into the world capitalist system. Therefore, they provide conflicting and, at times, confusing guidelines on the ways available to enhance the well-being of the general populations in these countries. To shed light on the subject matter, this study uses a few specific indicators of economic growth and human development by comparing the outcomes based on the two conflicting paradigms. The comparative process allows us to confirm the one theoretical approach that best explains human conditions in Third World settings. The study focuses on specific aspects of foreign domination--foreign investment, foreign trade, foreign debt, and the resulting disarticulated national economies. The main arguement, here, conveys the idea that as far as Third World countries are tied in an inescapable and unilaterally benefitial (to the core countries of course) economic and political relations, there will be no hope for any form of sustainable economic growth. Human well-being in Third World countries might very well depend on their ability to develop self-reliant economies with the least possible ties to the world capitalist system.

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Taking the structuralist approach as a starting point, this dissertation constructs a computable general equilibrium model for India using the social accounting matrix framework and along the lines of Lance Taylor's modelling of developing countries. The model is used to test the structuralist theories on the effects of a devaluation. The dissertation extends the testing of these models in two respects. First, by organizing the data in the form of traded and non-traded goods it studies the macroeconomic responses at a greater level of disaggregation than has been attempted earlier. Second, by constructing social accounting matrices for three time periods and using these to simulate the model, it examines the robustness of the predictions of the structuralist theories. The results indicate that the outcome of a devaluation depends on the structure of the economy and on the extent of the elasticity of exports, thus, generally supporting the structuralist theories.

This dissertation examines the effects of trade liberalization policies (represented by membership in the General Agreement on Tariffs and Trade/World Trade Organization on selected Least Developed Countries' (LDCs) human development (represented by the Human Development Index). In this dissertation, General Agreement on Tariffs and Trade (GATT) and World Trade Organization (WTO) policies are theorized to have two distinct types of effects: their direct effect and their indirect effect. Two questions are focused on: first, what is the effect (total, direct and indirect) of WTO policies on human development for selected LDCs? Second, what is the effect (total, direct and indirect) of WTO policies on human development for selected developing/developed countries (i.e. non-LDCs) holding economic development constant? Using the dependency theory of development as a theoretical basis, this dissertation examines the assumptions of modernization-theory-based policies as expressed in trade liberalization policies (i.e. the implementation of comparative advantage and now market fundamentalism) with world-system analysis techniques. To examine these questions, four panel regression models are constructed to measure the total, direct and indirect effects of WTO policies during the near-term (1998-2003) and during a longer historical term (1975-2000). The data for the analyses are taken from seven different sources of international data. The analyses seemingly demonstrate that there are quantifiable negative effects of GATT/WTO membership (trade liberalization policies) on human development in selected LDCs. The current implementation of trade liberalization policies does not benefit the well-being of all concerned as promoted by the WTO.

The thesis examines the comprehensive relationship between all aspects of financial liberalisation and economic growth in three countries from the Economic Community of West African States (ECOWAS). Employing ARDL bounds test approach and real GDP per capita as growth indicator; the thesis finds support in favour of the McKinnon-Shaw hypothesis but also finds that the increases in the subsequent savings and investments have not been transmitted into economic growth in two of the studied countries. Moreover, the thesis also finds that stock market developments have negligible or negative impact on economic growth in two of the selected countries. The thesis concludes that in most cases, it is not financial liberalisation polices that affect economic growth in the selected ECOWAS countries, but rather increase in the productivity of labour, increase in the credit to the private sector, increase in foreign direct investments, increase in the capital stock and increase in government expenditure contrary to expectations. Interestingly, the thesis also finds that export has only negative effect on economic growth in all the selected ECOWAS countries. The thesis therefore, recommends that long-term export diversification programmes be implemented in the ECOWAS regions whilst further investigation is carried on the issue. / Economic Sciences / D. Litt et Phil. (Economics)

La thèse de ce travail est que dans le contexte du processus contemporain de globalisation, le système international du financement du développement a renforcé les contraintes de jure et de facto qui pèsent sur l’autonomie des politiques économiques des pays en développement, mais qu’il offre également de nouvelles opportunités en transformant la géographie de la production mondiale et des flux économiques et financiers qui en découlent. Notre hypothèse est dès lors que l’impact des politiques internationales de financement du développement sur les marges de manœuvre politiques des pays en développement n’a pas été uniforme et que ce sont précisément les pays qui ont réussi à assurer un équilibre entre les contraintes du système international et leur autonomie politico-économique qui ont réussi à tirer profit de ce système et à entamer un processus de convergence économique avec les pays du centre. / Doctorat en Sciences politiques et sociales / info:eu-repo/semantics/nonPublished

Doctorat en Sciences politiques et sociales / info:eu-repo/semantics/nonPublished