Institutional Economics: Problems and Prospects for the Analysis of Developing Countries

Abstract

The article examines the population explosion and its consequences for developing countries in the 21 century. As a result of compulsory vaccination of the entire adult and child population in Asia, Africa and Latin America, a sharp reduction in mortality and an increase in overall life expectancy were achieved. As a result, although fertility in these countries was still governed by the laws of pre-industrial society, mortality began to be governed by the laws of post-industrial society. In the second half of the twentieth century, a rapid population growth began, which will continue throughout this century. This led to significant changes in the structure of the world's population: the share of countries in Asia, Africa and Latin America has increased sharply. As a result, by 2100, of the 20 largest countries in the world by population, 19 will be countries of Asia, Africa and Latin America. Demographic growth has exacerbated the problem of catching-up development and forced these countries to look more energetically for solutions to the problem of social inequality. In this regard, the recommendations of institutionalists, starting with G. Myrdal, turned out to be extremely in demand.