Developmental economy
Barriers
A poverty cycle (poverty trap) Arises when low incomes result in low savings, permitting only low...
Economic development
An improvement in economic welfare. It is wider than economic growth and involves, for instance: ...
Strategies 1
Import substitution To reduce domestic consumers’ dependence on imported goods, for which they su...
Strategies 2
Multinational competition Companies that have established a presence has productive units in more...
Strategies 3
Non-government organization The private organizations that pursue activities to relieve suffering...
Strategies 4
Market based supply-side policies They can be used as a development strategy when the government ...