Impact of Dependency Theory on Economy: UK-India Relationship

An in-depth analysis of the
dependency theory

ABSTRACT
The current research study is being commissioned to evaluate the impact of
dependency theory over the working of the economy. A study on relationship of UK
economy with India. For this purpose, the researcher has utilized a secondary analysis
wherein different concepts in the context of dependency theory along with its impact on the
working of the economy have been identified significantly. The research methodologies have
been selected by the researcher on the basis of the topic under study and thus, inductive and
interpretivism approaches have been adopted. The secondary data being accumulated was
analysed using thematic analysis technique. The findings and the discussion of the study
revealed that dependency theory shows that developed countries uses the resources by
availing it from underdeveloped countries. It is resulting into making rich nation more
wealthy and other country poor. There is involvement of recommendations as well which
comprises significant execution of policy for eliminating poverty, inequality, etc. challenges.

CONTENTS
CHAPTER – 1: INTRODUCTION...........................................................................................1
Background of the study.........................................................................................................1
Research aim..........................................................................................................................1
Research objectives................................................................................................................1
Research questions.................................................................................................................2
Significance of the study........................................................................................................2
Structure of the report.............................................................................................................2
CHAPTER – 2: LITERATURE REVIEW................................................................................4
Overview of the chapter.........................................................................................................4
Concept of dependency theory and its significance...............................................................4
Impact of dependency theory over working of economy.......................................................5
Challenges faced by underdeveloped countries due to dependency theory...........................6
CHAPTER – 3: RESEARCH METHODOLOGY....................................................................8
Overview of the chapter.........................................................................................................8
Research approach..................................................................................................................8
Research philosophy...............................................................................................................8
Data collection methods.........................................................................................................8
Data analysis method..............................................................................................................9
Ethical considerations.............................................................................................................9
Research limitation.................................................................................................................9
CHAPTER – 4: FINDINGS AND DISCUSSION...................................................................11
Overview of the chapter.......................................................................................................11
Presentation of the results from the secondary analysis.......................................................11
CHAPTER – 5: CONCLUSION & RECOMMENDATIONS................................................16
Conclusion............................................................................................................................16
Recommendations................................................................................................................17
REFERENCES.........................................................................................................................19

TOPIC – “Impact of dependency theory over the working of the economy. A study on
relationship of UK economy with India”.
CHAPTER – 1: INTRODUCTION
Background of the study
In the present scenario in which the developing nations are increasingly moving into
the manufacturing production and there has been amount of rebalancing of international
power relations, it is quite usual to entitle that the world has altered dramatically subsequent
to the year 1970s and there is a requirement of the novel theories for comprehending the
current development issues and problems. Based on this, the present research work intervenes
in this debate to validate the dependent theory can provide useful insights that remain
pertinent for comprehending the altering development landscape of different economies of
the world such as UK and India. The dependency theory was being developed in the year
1950s under the direction of the Director of the United Nations Economic Commission for
Latin America, Raul Prebisch. Prebisch and his classmates (Ghosh, 2019). They were quite
concerned in regards with the reality that economic growth in the developed and
industrialised nations does not essentially results in the growth in the poorer nations.
Certainly, there studies have recommended that the economic activity in the developed or
rich nations most of the time results into serious economic issues in the developing or poor
nations. In this context, the current research work will be going to evaluate the influence
being created by the dependency theory over the working of economy and the challenges
being faced by the underdeveloped nations while managing the dependency theory.
Research aim
The main aim of the current research report is to evaluate the impact of dependency
theory over the working of the economy. A study on relationship of UK economy with India
Research objectives
For the purpose of fulfilment of the above aim and objectives, there will be
requirement of certain small objectives and these are as follows:
 To develop understanding relating to the concept of dependency theory and its
significance.
 To analyse the impact which is being created by the dependency theory over working
of economy.
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 To examine the challenges which the underdeveloped country faces while managing
the dependency theory.
 To recommend steps for improving the relation between UK and India with respect to
application of dependency theory.
Research questions
Some of the important research questions that will be answered in the current study
are as follows:
 What is the concept of dependency theory?
 What is the impact being created by the dependency theory on developed and
developing countries?
 What are the different challenges which the underdeveloped countries face due to
dependency theory?
 What are some recommendations which country need to follow in order to overcome
the challenges?
Significance of the study
The present research work will provide an aid to the researchers and the practitioners
working or is planning to work in the field of study related to dependency theory and will
help in comprehending its influence on the working of the developed as well as developing
nations. Through seeking help from the dependency theory, the research work is making an
attempt to explain the present underdeveloped state of different countries in the globe through
investigating the patterns of communication between the countries and through quarrelling
that countries inequality is an inherent section of those communication (Annan, Camdessus
and Rubin, 2008).
Structure of the report
 Chapter – 1 Introduction: This is the first chapter of the research study which entails
about the background of the study, the main aim and objectives of the research and its
significance. It also throws light on the overall structure that has been adopted for
carrying out the research adequately.
 Chapter – 2 Literature review: Literature review is the second chapter of the study
and its plays a very crucial role in the whole research work. It includes all the
previously literatures and scholarly work related to the topic under study and helps in
understanding the concepts and past work about the subject undertaken.
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 Chapter – 3 Research methodology: This is the third chapter of the study which is
again crucial as it entails the methodologies being selected for data collection, data
analysis, approaches and plan and procedure by which the whole research work will
be conducted. Even research limitation and ethical consideration are included in this
section.
 Chapter – 4 Findings and discussion: This is the second last chapter of the study
which includes the findings from the analysis of the secondary data being adopted.
The results are being discussed significantly for many interpretations.
 Chapter – 5 Conclusion and recommendations: This is the final section of the report
which helps in concluding the main findings of the study. In simple words, it
represents the interpretation of the results and suggests recommendations for
improvements.
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