Which economic theory was predominantly favored by development economists during the 1980s and 1990s, a time characterized by conservative economic policies in much of the West and Japan?

Explanation

During the 1980s and 1990s, development economists largely supported neoclassical economics, especially in the context of conservative governments in the West and Japan. Other theories like Marxism, Rostow's model, and classical economics were less influential in shaping policy during this period.