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Define the implications of dependency problem.
Implications of dependency problem:
To escape exploitation, underdeveloped countries should gain political, economic and social independence through the developed countries by cutting of economic ties or trade and investment along with the developed world and becoming self sufficient for example adopt an ISS (import-substitution strategy).
What are the predictions of Lewis? For Lewis, Harrod Domar is right to emphasise the task of savings and investment although structural change and a new industrial sector are
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Do all developing economies have same underlying problems? Less developed countries are similar but exceptional. The impact of a problem will vary depending upon circumstances
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