Strategies for Growth and Development

11 flashcards · Economics · by Addaneye

1. What are the 10 strategies for growth and development?

   Improving education Promoting foreign direct investment Aid Improving education (girls) Microfinance Allocating property rights Fair trade Debt relief Protectionism Buffer stock schemes and Industrialisation

2. How does improving education lead to growth and development?

   Increases human capital

3. How does promoting FDI lead to growth and development?

   Increases productivity

4. How does aid lead to growth and development?

   donations to countries in need

5. How does improving education (for girls) lead to growth and development?

   Fall in birth rate >> helps combat population growth >> less overcrowding of schools and hospitals

6. How does microfinance lead to growth and development?

   Providing small loans to small business or individuals

7. How does allocating property rights lead to growth and development?

   People can use assets as collateral >> take out loans >> increase in investment

8. How does fair trade lead to growth and development?

   Ensures producers are paid a fair price

9. How does debt relief lead to growth and development?

   Countries no longer have to pay back their debts

10. How does protectionism lead to growth and development?

    Increase in barriers to trade so that infant industries can grow

11. How do buffer stock schemes and industrialisation lead to growth and development?

    Reduces the problem of primary product dependency by stabilising prices and moving to a manufacturing industry