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Economic development and the economic policies that help nations achieve it are an integral part of modern statecraft. The politico-economic aspects of certain policies can exert an indelible mark on an economy’s growth and development trajectory. The Geostrata’s Centre for Trade and Development envisages covering different aspects of the Indian and global economies that correlate with trade and development, hence the name.
Cover by The Geostrata
The centre has been designed to function as the premium source and policy framework research hub regarding the economic policies of India and the world. The developing world has attracted innumerable studies in the past, but what makes this one stand apart is the fact that it has been written and compiled by one of the great powers in the developing world aka the Global South and envisages spearheading the group through its inclusive foreign policy.
This paper will take into account a case study of four nations from the developing world which more or less started from a similar background of increased levels of poverty, low GDP, low productivity, dominance of primary sector in the economy, shortage of skilled labour, lower literacy rate, weak export economy, low-tech manufacturing, etc.
The study will further try to pitch an argument against a common theory of economic development proposed by several 20th-century economists of a one-size-fits-all approach, infamously which the Washington Consensus is often accused of.
The cases of all four developing economies—India, China, Brazil, and Botswana will make it clear that during their economic overhaul period, they were faced with a diverse range of difficulties and realities, to which copying their counterparts or history would have not worked quite well. Henceforth, there arose a need to tackle their problems while keeping their realities and capacities in mind.
The study will further focus on the dividends and economic leverage that those economic policies have provided for these nations in the present. The study draws its references from various sources and is open to constructive dialogue and reviews from partners and industry alike.
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For all official and academic purposes, use the following as a citation, which follows the Chicago Manual Style.
Ambrosh Dev, Devasya Mitra, Digvijay Singh, Jnanita Asapu, and Tanisha Gupta
“Diversity of Economic Growth” THE GEOSTRATA, December 13, 2024.
BY AMBROSH DEV, DEVASYA MITRA, DIGVIJAY SINGH, JNANITA ASAPU, AND TANISHA GUPTA
CENTRE FOR TRADE AND DEVELOPMENT
TEAM GEOSTRATA
Really great piece