Discuss Ragnar Nurkse’s Theory of Balanced Growth.
Introduction Ragnar Nurkse, an Estonian economist, is best known for his work on economic development and his theory of Balanced Growth. Introduced in the 1950s, this theory was designed to help developing countries escape the vicious cycle of poverty and underdevelopment. Nurkse believed that simultaneous investments across different sectors of the economy were necessary to […]
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