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Economics Assignment Name Course Date Economic Development of Different Countries South Korea Case Study South Korea confirms to some patterns-of-development structure change-models especially the Lewis model of development (Torado et al 142). The Lewis model development involves a dualistic economy which consists of urban manufacturing and rural agricultural sectors. The development of South Korea has been characterized by rapid increase in agriculture a shift of labor from agriculture to industry and steady capital stock and education growth. The country carried out thorough-going land reforms in the late 1940s and 1950s to ensure agriculture was not opening up new markets. The Nazis were able to achieve full employment through massive public works programs (Coale & Hoover 103). Germany maintained self-sufficiency even with lack of raw materials as they maintained trade links with less developed countries which supplied them with raw materials. The Germany model shows that economic development can be achieved without a huge emphasis on agriculture. References Coale A. J. & Hoover E. M. (2015). Population growth and economic development. Princeton University Press.Naylor R. T. (2014). History of Canadian Business (Vol. 207). McGill-Queen's Press-MQUP.Torado Michael P. and Stephen C. Smith. "Economic development." (2016). [...]
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Please summarize the pdf highlight part (Structural Patterns) and research the same things for Canada and Germany. Thanks
Subject Area: Economics
Document Type: Research Paper
