The term development of underdevelopment by Frank (1972) rejects the theory of diffusion that implies that the less-developed communities or societies do not have the potential for development since they are not influenced by the dynamics present in the developed or First World as a result of the many obstacles toClick to see full answer. Just so, what is theory of underdevelopment?Theories of Underdevelopment: Baran’s View on Underdevelopment! The theory visualizes development as a process in which less developed countries are caught up in dependence and dominance relationship with rich countries and these subordinate countries suffer from institutional and structural constraints.Additionally, what are the theories of development studies? scholars propounded theories concerning development, how it is achieved and how it is impeded. These theories are the Modernization theory, the Dependency theory and the Feminist theory. industrialization. necessities of life, by introducing modern technology and economic strategy to the third world. Keeping this in consideration, what are the theories of development and underdevelopment? Among the theories discussed are those of modernization and economic growth, structuralism, dependency, and the mode of production and articulation. The writer points out weaknesses in each theory to explain the reasons for cases for Third World underdevelopment.What are the four theories of development?Four Main Theories of Development: Modernization, Dependency, World-Systems, and Globalization.