Question

Elaborate dependency theory of development.

Answer 1

Dependency theory. Dependency theory became popular in the 1960's as a response to research by Raul Prebisch. ... The dominant view of dependency theorists is that there is a dominant world capitalist system that relies on a division of labour between the rich 'core' countries and poor 'peripheral' countries.

Answer 2

Answer:

Dependency theory originates with two papers published in 1949 – one by Hans Singer, one by Raúl Prebisch – in which the authors observe that the terms of trade for underdeveloped countries relative to the developed countries had deteriorated over time: the underdeveloped countries were able to purchase fewer and fewer ...