Theoretical Arguments of Economic Growth as Applied to the Case of Nicaragua

This paper analyses economic growth of Nicaragua under the theoretical frameworks of the Harrod-Domar Model, Lewis’s Model of Dual Sector Growth and Structural Adjustment, and the Neo-Classical Model of Economic Growth since 1990. While Nicaragua is the 2nd poorest country in the Western Hemisphere, it has experienced stable economic development in recent years and claims to be pulling her population out of poverty. Last few months notwithstanding, Nicaragua also enjoys a relatively low violent crime rate when compared to the rest of Central America, which may also be partly responsible for her economic development. After discussing the main theoretical arguments of the above-mentioned theories, we plan to apply them to the case of Nicaragua. Our experiment showed a correlation between the Neo-classical argument of more open international trade, open markets, fewer trade restrictions and economic growth

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The authors declare no conflict of interest.

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The datasets used in this study are openly available at [repository link] and the source code is available on GitHub at [GitHub link].

This work did not receive any external funding.