A HISTORICAL PATTERN OF ECONOMIC GROWTH IN DEVELOPING COUNTRIES

Abstract

T is impossible to study the economic growth of the developing coun-I tries in modern times without considering the mutual interactions between these economies and those of the advanced countries. When Western European Capitalism began to expand its production and trade on a world-wide scale, it awakened the less-developed areas of the world to modern economic development. This article will take up the Asian afea, including Japan, as object of examination. Economic growth in the Asian area was brought about by the eastward advance of Western European capitalism. In this intermingling of Western European and Asian economies the following historical stages can be observed.