The Structural Diversity of Developing Economies
Eight critical components;
◦ The size of the country (geographic area, population, and income)
◦ Its historical and colonial background
◦ Its endowments of physical and human resources
◦ Its ethnic and religious composition
◦ The relative importance of its public and private sectors
◦ The nature of its industrial structure
◦ Its degree of dependence on external economic and political forces
◦ The distribution of power and the institutional and political structure within the nation