Which theory divides the world into core, periphery, and semi-periphery regions?

World Systems Theory is a framework that categorizes countries into three distinct groups: core, periphery, and semi-periphery regions. This theory, developed by sociologist Immanuel Wallerstein, posits that the global economic system is characterized by inequality and exploitation between these regions.

Core countries are typically more economically developed, with stronger institutions and higher levels of wealth, technology, and education. They often dominate global markets and are influential in decision-making processes. In contrast, periphery countries are less developed, often reliant on agriculture or raw material extraction, with limited economic power and poorer institutions. Semi-periphery countries fall somewhere in between, having some characteristics of both core and periphery nations. They might also engage in manufacturing, can be emerging economies, and are seen as playing a stabilizing role in the world economy.

This theoretical framework highlights how global inequalities are maintained and perpetuated by historical and contemporary practices, such as colonialism and trade dynamics. Understanding World Systems Theory is crucial for analyzing global relations and inequalities, making it the correct answer to the question about the division of regions in the context of global economics.