Logical system of development economics of large countries

• Published in: China Political Economy Vol. 2; no. 2; pp. 318 - 329
• Main Author: Ouyang, Yao
• Format: Journal Article
• Language: English
• Published: Leeds Emerald 13.12.2019; Emerald Publishing Limited; Emerald Group Publishing Limited
• Subjects: 21st century; Area planning & development; Developing countries; Development economics; Development economics of large countries; Economic development; Economic growth; Economic structure; Emerging markets; GDP; Global economy; Gross Domestic Product; Industrial development; Industrialized nations; Influence; LDCs; Logical structure; Per capita; Population; Regions; Theoretical system; United States > US; Egypt; Russia; India; Pakistan; Iran; China; Brazil; Mexico; South Africa; Ethiopia; Germany; Indonesia; Logical structure; Theoretical system; Development economics of large countries
• ISSN: 2516-1652; 2516-1652
• DOI: 10.1108/CPE-10-2019-0027

Purpose The development economics of large countries is a subject that studies how large developing countries evolve into developed countries through industrialization and structural transformation. By looking into the economic development of large developing countries in a systematic way, the purpose of this paper is to propose a logical system consisting of research objects, main issues, key principles and development strategies. Design/methodology/approach A large developing country refers to a country with a dual economic structure; it has a large population, vast territory and great market potential, but is low in labour productivity and per capita income. Findings The key issue of the large country's economy is the issue of the size, while the key issue of the developing country's economy is the issue of the economic structure. Therefore, the key issue of the economy of large developing courtiers lies in both the size and economic structure. Originality/value The endogenous capacity of a large country depends on the size of factors and the balance of supply and demand, while the comprehensive advantage of a large country depends on its diversified industrial structure and integration of factors. Based on the basic characteristics and key economic principles, large developing countries should seek endogenous, stable, coordinated and innovative development.