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Outline the reasons why the process of industrialization in developing countries might require government intervention. How far do these reasons justify the different forms of intervention that have been used to promote and direct industrial development?
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Outline the reasons why the process of industrialization in developing countries might require government intervention. How far do these reasons justify the different forms of intervention that have been used to promote and direct industrial development? Every Less Developed Country (LDC) seeks industrialization, or structural change as it is otherwise called, as this can lead to a higher GDP per capita, which can lead to a higher quality of life in the LDC's. In fact growth in GDP per capita (p.c) is seen as an indicator of industrialization. It can often be difficult for the population of a country to bring about industrialization in an efficient and well directed manner by themselves, it is here that the government can play a huge in role in managing the whole process of structural change, indeed industrialization may not occur at all if the government does not intervene or at the very least...
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