Economic development in low income countries essay

Keynes, Vol. However, the majority is focused on LED countries. Yet it is one of the fastest growing knowledge-based industries in the world. The rich countries have sought access to the Internet for use in the development of the economy because they know the use of the Internet will develop countries.

They may be forced out of business.

economic growth pdf

The developing countries often have savings or trade gap which means that there is short fall between savings and desired level of investment and the countries try to fill this gap by capital inflows. As recorded by the Economist [ ], most terrorism attacks take place in LED countries see figure.

Kumar and M. It is often donated to causes that harm the environment, to military equipment, or to counter-effective subsidies [ 9 ]. However, debt hits an LED country harder than a rich country. Enforcing contracts is not as straightforward as one might think, due to excessive red tape and an often dysfunctional administration.

Individuals in developing countries suffer from a number of diseases such as malnutrition, HIV, malaria, anemia, tuberculosis and so forth In Cameroon special forces trained by the West have been implicated in brutal abuses against opponents of Paul Biya, who has been president since How Low-Income Countries Today Differ from Developed Countries in Their Earlier Stages There are eight significant differences in initial conditions that require a special analysis of the growth prospects and requirements of modern economic development: 1.

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Economic Development for Developing Countries Essay Example