The notion that peripheral nations move from having traditional or less developed institutions to the characteristic of more developed nations is known as

Modernization Theory

Explanation:

Modernization can be defined as a concept that covers the transformation of the lives of people in the society as a result of various social changes like urbanization, industrialization, etc.

The Modernization theory deals with the factors that are interior to a country with the assumption that with due assistance the traditional or less developed nations can be developed in the same in the same way the developed nations have been shaped.

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