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SL IB Economics Your notes
4.10 Economic Growth & Development Strategies

Contents
4.10.1 Trade Strategies, Diversification & Social Enterprise
4.10.2 Market-Based & Interventionist Policies
4.10.3 Merit Goods & Inward Foreign Direct Investment
4.10.4 Foreign Aid & Development Assistance
4.10.5 Institutional Change
4.10.6 Evaluating Market Orientated Approaches Versus Government Intervention
4.10.7 Progress Towards Sustainable Development Goals
Page 1 of 23
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4.10.1 Trade Strategies, Diversification & Social Enterprise

Your notes
Trade Strategies
Increasing international trade helps to increase economic growth and development
Four of the most commonly used strategies to increase international trade include import
substitution, export promotion, economic integration and diversification
Strategies to Increase International Trade
Strategy Explanation Advantages Disadvantages
Import Aims to increase Less dependence on Higher prices and less

substitution domestic production and imports choice for consumers
output by moving May increase Possibility of retaliation
consumers away from employment in the from other countries
imports by using tariffs or country Distorts the efficient
quotas to increase import Supports local firms allocation of resources
prices. This encourages as more inefficient
them to buy locally domestic firms
increase production
May raises costs for
manufacturers who
depend on imported
components
Export Aims to increase the level Greater output Some firms may be
promotion of exports through generates higher unable to compete
subsidies or facilitating economies of scale internationally and fail
international trade fairs at Greater output creates There is an opportunity
which local firms can more employment cost to the government
connect with National specialisation for supporting firms
international buyers increases through export
International promotion
competition leads to
innovation and
increased efficiency
Economic A process in which Decreases prices and Some loss of national

integration countries become more increases choice sovereignty may occur
interdependent as they
Page 2 of 23
form an agreement which Access to a wider range Some integration

decreases barriers to of technology requires common
trade (tariffs, quotas etc.) More political barriers (e.g. tariffs) to Your notes
and increasing common cooperation between be erected to third part
fiscal and/or monetary countries nations which may limit
policies Expands markets for other opportunities for
domestic firms increasing trade
Generates higher
efficiency in the global
allocation of resources
Increasing Occurs when a country is Reduces the problems Firms may fail to
diversification able to increase the associated with over compete as global
number of products that it specialisation such as competitors may be
offers for export and this price volatility (e.g. in well established
reduces risk - if one 2019, 71% of Zambia's It takes time and
product fails others may exports were copper money to create new
well still be successful and it's GDP is industries
significantly influenced
by the price of copper)
Creates new
employment
opportunities
Reduces risk of failure
during recessions or
periods of economic
slowdown
Social A social enterprise Raises motivation, These ventures tend to

Enterprise focuses productivity and output be small and very
on meeting specific social Can create new localised
objectives such as worker employment It can be difficult for
welfare, or profit sharing opportunities them to generate
with workers, or providing Raises income within economies of scale or
equal ownership of the the communities to compete
business to employees internationally
e.g Bouwland Wines in
Stellenbosch, South
Africa gave equal
ownership shares to its 60
employees
Page 3 of 23
4.10.2 Market-Based & Interventionist Policies

Your notes
Market-Based Policies
Market-based strategies create the conditions for private individuals & firms to pursue an economic
activity with the aim of maximising output and profit
Market-based Strategies to Generate Economic Growth & Development
Trade Removing the barriers to More trade increases Global competition

liberalisation international trade such as output, employment & intensifies and some
tariffs, quotas etc. incomes firms may fail
Lowers costs of There may be an
production for firms element of structural
May result in lower unemployment as
prices for consumers inefficient industries
More efficient global die out
allocation of resources
Privatisation Government firms are May increase Government assets are

usually so big that private competition leading to often sold off cheaply
enterprise refrains from an increase in output, at prices below fair
trying to compete with employment & market value
them. incomes The quality of services
Privatisation encourages Private firms may be may deteriorate as
new firms to enter the more efficient than private firms focus on
market & compete, thus government firms profit maximisation
increasing the total Competition may result Unemployment may
supply in the economy in cheaper prices for increase as private
consumers firms seek to cut their
The money from the wages in order to
sale of assets can be maximise profits
used to provide more Prices may actually rise
merit and public goods as firms provide a
monopoly service e.g.
rail travel
Deregulation This is the process of Any regulation Deregulation may

removing government increases costs of create an environment
Page 4 of 23
controls/laws from production for firms of corruption leading

markets in order to and deregulation to inefficiency
increase competition decreases costs which Deregulation may Your notes
may result in greater increase the quantity of
supply negative externalities
Less regulation may Deregulation may allow
result in innovation and foreign firms to
more enterprise in an monopolise industry
economy within the nation,
leading to higher prices
and less output
Page 5 of 23
Interventionist Policies
Interventionist strategies are put in place by governments to correct the failings of the free market Your notes
and promote the welfare/development of its citizens
Interventionist strategies aim to increase human capital, productivity and output
Interventionist Strategies to Generate Economic Growth & Development
Tax policies A progressive tax system Redistribution often Sometimes, the

redistributes from those starts with the provision benefits of a good
with higher income to of free education & progressive tax system
those with lower income & healthcare paid for are eradicated by the
reduces income from tax revenue penalties imposed
inequality Tax revenue provides through multiple
the means of regressive (indirect)
supporting poorer taxes
households and the If the tax burden is too
unemployed high it may become a
disincentive to work
Transfer Transfer payments are The poorest Poorer countries have

payments usually given to the households are less money available to
poorest & most supported support the poor
vulnerable people in Money received from There is an opportunity
society and transfer payments cost for the
include unemployment & generates government
disability payments, consumption in the associated with each
pension payments, economy and increases transfer payment
heating discounts, public aggregate demand Supporting the poor
transport subsidies etc. makes good economic
sense but is sometimes
politically unpopular
Minimum wages Minimum wages are set Workers receive higher Costs of production
above the free market wages and have more for firms increase,
rate and firms are not disposable income possibly leading to less
allowed to pay anyone Consumption increases international
less than the legal rate leading to increased competitiveness
aggregate demand With higher costs of
production, output may
Page 6 of 23
Standard of living fall leading to

increases with higher increased
income unemployment Your notes
Page 7 of 23
4.10.3 Merit Goods & Inward Foreign Direct Investment

Your notes
Provision of Merit Goods
Merit goods are beneficial to society but are under-provided in a market
Governments often have to subsidise these goods in order to lower the price and/or increase the
provision
The provision of merit goods can result in significant improvements to human development and quality
of life
The Provision of Merit Goods to Aid Economic Growth & Development
Education These include pre- Education helps to Education programs take

programs school, primary, intervene and break a long time before there
secondary and tertiary the poverty trap by is an increase in
education programs increasing human productivity
which are free at the capital There is an opportunity
point of consumption, Increased human cost associated with the
but paid for with tax capital results in higher provision of education
revenue productivity and Education may still be
output under consumed in
Higher output can lead developing nations as
to higher wages which children are required to
improve the standard work for the family: family
of living survival depends on the
Higher wages may lead income they generate
to more consumption
and an increase in
aggregate demand
Health These range from Universal access to Each health care

programs emergency-only vaccinations can intervention by the
healthcare to full improve life government
healthcare and expectancy and requires expenditure and
preventative healthcare productivity so carries an opportunity
(e.g. cancer screening) significantly cost
programs, which are free Improved health care How much health care
at the point of helps to break the should be provided is a
Page 8 of 23
consumption, but paid poverty trap normative issue and is

for with tax revenue subject to political
pressure and ideology Your notes
Infrastructure Infrastructure - including Infrastructure can play Each infrastructure

projects energy, transport, a direct role in project requires
telecommunications, improving the health significant government
clean water and and standard of living spending and so carries
sanitation - Telecommunications an opportunity cost
speed up the flow of Infrastructure projects
information and may take a long time to
exchange of complete
knowledge and ideas Infrastructure projects
which can directly help are subject to political
to improve human pressure and lobbying
capital and the
standard of living
Access to energy has a
significant effect on
productivity e.g. the
opportunity cost of
previously spending
time looking for
heating fuel can now
be used more
productively
Page 9 of 23
Inward Foreign Direct Investment (FDI)

Inward FDI occurs when investment by foreign firms results in more than a 10% share of ownership of Your notes
domestic firms
Foreign FDI has the potential to generate significant economic growth as more economic activity,
employment and output is generated
Foreign FDI has the potential to raise household income which helps to break the poverty cycle
The impact of FDI on economic growth depends on how the FDI occurs
E.g. Chinese firms frequently invest overseas, but bring their own employees with them - and send
all of their profits home - the economy and individuals within the economy benefit less than they
could have
E.g. Indian firms frequently invest overseas and tend to hire local employees and reinvest more of
the profits than Chinese firms generally do
Advantages and Disadvantages of FDI to Generate Economic Growth and Development
Advantages of FDI Disadvantages of FDI
FDI can be a major source of finance in less Weak local regulations are often exploited
economically developed countries leading to poor working conditions and
FDI helps to generate extra national income increased negative externality's of production
which can increase the level of savings - and Profits tend to be moved off-shore or returned
higher savings can help to increase funds to the home country of the multinational firms
available for domestic investment which means that less is reinvested back into the
Expansion of supply can lead to increased development of the host nation
employment opportunities Multinational firms often pay very little tax to
The government may receive higher tax revenue host nations as they use sophisticated
generated by the increased profits from the corporate practices to reduce the amount of
additional level of national output tax they are liable for (e.g.transfer pricing )
As more foreign firms invest, governments often Local firms may struggle to compete with
start to develop new infrastructure to support multinational firms who are now based in their
their business activity country - and they go out of business
Multinationals are likely to have the power to
keep wages low
Multinationals may use workers from their
country for management roles and only employ
local unskilled labour for manual tasks. The
workers may not develop many new skills from
the role
Page 10 of 23
4.10.4 Foreign Aid & Development Assistance

Your notes
Foreign Aid
Foreign aid is often offered to developing nations in several different forms, including:
Humanitarian/development aid
Debt relief
Official Development Assistance (ODA)
Non-governmental organizations (NGOs)
Contextual factors can influence the effectiveness of any of these and some that work well in one
context may be less effective in another
1. Humanitarian/development aid
Two of the most common forms are grants & soft loans
An Evaluation of Humanitarian Aid
Advantages Disadvantages
Aid has proven beneficial in times of distress Critics argue that aid breeds dependency,
It is particularly helpful in response to large- corruption & disincentivises individual
scale one-off events such as earthquakes or responsibility
tsunamis E.g. The Central African Republic receives
ongoing food aid
2. Debt relief
Many developing nations have borrowed significant sums of money in the past which have to be repaid
(with interest) over a long period of time
The opportunity cost of these repayments is significant & often includes
Loss of infrastructure development
Inability to create a welfare system
Investment in human capital/education
Countries began to default on their loans in 1982 (Mexico was the first) & this has led to the
restructuring of these loans to make it more affordable
More recently there has been significant progress in writing off the entire debt of the most heavily
indebted poor countries (HIPC) so that they can focus on building their economies
Page 11 of 23
An Evaluation of Debt Relief
Your notes
The actual repayment of debt is removed or The country may have a lot more funds available
reduced than ever before and this can breed corruption
The opportunity cost of debt repayments is as individuals in government seek to get their
reduced or eliminated hands on it
The Government is able to use the money saved Once the debt is forgiven, many developing
to provide new services and additional nations borrow more money and the cycle starts
public/merit goods again
3. Official development assistance (ODA)

ODA can be bilateral (from donor government to recipient government) or provided through a
multilateral
development agency, such as the United Nations
Two of the most common forms of ODA are grants & soft loans
The United Nations has set a target for more economically developed countries to spend 0.7 per% of
their gross domestic product (GDP) on ODA to help countries eliminate poverty and become
developed
An Evaluation of ODA
Funds are available to the LEDC over a long- Countries may become dependent on the ODA
term period to help with the economic Corruption may mean funds are diverted from
development goals their true purpose
Bilateral ODA can help to develop the ODA in the form of loans has to be repaid and
relationship between the two countries, these repayments carry an opportunity cost
possibly facilitating the exchange of resources,
ideas and technology
4. Non-governmental organizations (NGOs)
Page 12 of 23
These are typically voluntary, community-based organisations which do not aim to make a profit but
seek to meet a need or provide a service
They operate locally, nationally and/or internationally Your notes
With a community based emphasis, they are able to
Engage in small scale projects giving control to community stakeholders
Draw on local skills
Encourage sustainability & remove the need for aid
Tackle environmental sustainability using local knowledge & resources
NGOs have played a major role in many LEDCs and their aid often comes with fewer conditions or
expectations than ODA
Examples of NGOs include Oxfam International, Save the Children International and World Vision
International
An Evaluation of NGOs
NGOs can elicit support for particular need from The country receiving the aid can become overly
a very wide audience including the global public dependent on it
and many wealthy governments The scope of what an NGO can do may be
They often have specialists working for them limited or only focussed on one segment of the
who provide in country support so as to increase population e.g children
the efficiency of their aid
They conduct research, gather data and as a
result often make highly specific project
proposals aimed at directly improving the
standard of living
NGOs can help develop human skills in the
countries in which they work and this helps to
break the poverty trap
Page 13 of 23
Multilateral Development Assistance

Multilateral organisations are made up of member governments from around the world Your notes
They pool their resources together which enables large-scale development programmes to be
funded
The World Bank and the International Monetary Fund (IMF) play an active role in providing multilateral
development assistance
An Explanation of Organisations that Assist in Development
Organisation Explanation of what they do
Founded in 1944 as the International Bank for Reconstruction and

Development to fund postwar redevelopment
They provide reconstruction loans to countries devastated by war
They provide loans to developing countries to aid in their
World Bank development
They provide loans to countries to assist with the development of
infrastructure
They work with governments and institutions so as to encourage
economic reform and trade liberalisation
Founded in 1944 with the aim of establishing a stable global financial

system that could help with postwar reconstruction efforts and
better deal with challenges such as the Great Depression of the
1930s
John Maynard Keynes was one of two founders
International Monetary Fund They aim to facilitate a stable global financial system
(IMF) They oversee exchange rates and the system of international
payments that occurs between nations and individuals
They monitor country policies and national, regional and global
economic and financial developments through a formal system
known as surveillance
They provide member countries with currency to help deal with
balance of payments problems
Page 14 of 23
4.10.5 Institutional Change

Your notes
Changing Institutional Factors
Sound institutions, free from corruption and well-established help a country to progress in human
development
1. Access to credit and banking (finance)

Financial institutions enable individuals and firms to borrow money which can be used for investment
or to generate growth
A lack of financial institutions prevents this from happening and causes the poverty trap to continue
Mobile banking has increased significantly in most developing countries

This allows customers to conduct financial transactions more easily and facilitates a flow of finance
in more remote areas
Microfinance has been very successful in breaking the poverty trap for some households in LEDCs
The Grameen Bank pioneered the use of microfinance in Bangladesh and the country saw
significant gains in economic development
The Advantages and Disadvantages of Microfinance
Small but meaningful loans can be made to poor Some loans are not repaid (a very small %)
households to help them start a business Some microfinance organisations raise money
The loans can be targeted at women from private donors and have been criticised for
Running a business improves human capital and taking high management fees and salaries e.g.
also raises income Kiva
Loan repayment helps to build self esteem
2. Property and land rights

In many countries, property is the main household asset which can be used to secure loans or generate
income
A lack of property rights in some developing countries prevents this from happening and causes the
poverty trap to continue
The Advantages and Disadvantages of Permitting Property Rights
Page 15 of 23
Your notes
The more certain the legal protection of The issuing of property rights can lead to
property rights, the easier it is for households to property monopolies over time as wealthier
access loans individuals purchase multiple properties
Property rights also provide shelter security Property monopolies could reduce the amount
Property rights help households to generate of property available for purchase or rent - and
income raise housing or rental prices
3. Women's empowerment
Gender inequality reduces the incentive for women to enter the workforce resulting in a smaller
production possibility curve for the nation
This represent a loss of efficiency for a nation
Household income is suppressed which worsens the quality of life
Increasing women's empowerment reverses these effects

The additional income helps to break the poverty trap in LEDCs
Increased opportunity incentivises young girls to study harder which helps to close any existing
education gaps between genders
4. Reducing corruption
Corruption reduces investment, limits economic growth and affects the pattern of government
spending within a country
These consequences of corruption hold back economic development and growth
Corruption is often enabled or led by the government or figures in the government
Tackling corruption has the following advantages:

1. There is more confidence in the economy and foreign direct investment increases
2. Money allocated to development projects in the country actually gets used for development
3. As national output rises, tax revenue rises and the government is able to provide more services, merit
goods, and public goods
4. An increase in national output leads to more employment opportunities, which can raise household
income
Page 16 of 23
4.10.6 Evaluating Market Orientated Approaches Versus

Government Intervention Your notes
Pros & Cons of Market Oriented Approaches

Market orientated approaches aim to reduce government intervention and free up private-sector
economic activity so that national output (real GDP) increases
As national output increases, the potential to break the poverty trap increases and this can lead to
better economic development in a nation
Pros and Cons of Market-Orientated Approaches
Pros Cons
Competitiveness: the more competitive the Increased market failure: with less government
environment the more foreign firms are likely to intervention the amount of negative externalities
invest as competition lowers costs and will increase (both production and consumption)
generates innovation Development of a dual economy: Many LEDCs
Efficiency: Less government intervention have both a large informal sector and a thriving
should result in better allocation of resources as formal sector based around the activities of
the process is led by the market forces of multinational corporations which contributes to
demand and supply growing income inequality
Economic growth: free markets encourage Increasing inequality: the benefits of free
entrepreneurship in the search of profit and this markets are increasingly concentrated in the
increases real GDP hands of a few as those with assets continue to
Increased FDI: Multinational corporations prefer buy up the factors of production
to invest in economies where the markets are
more open, where there is less regulation and
government intervention
Trade liberalisation: Removing the barriers to
international trade such as tariffs and quotas
increases economic growth, raising household
income
Page 17 of 23
Examiner Tip
Your notes
You will notice a lot of similarities in the lists on this page with the pros and cons of supply-side policy,
but there is one distinct difference. When evaluating supply-side policy, the focus is on increasing
national output (real GDP). When evaluating pros and cons in the context of economic development,
focus on how to market policies have the potential to improve lives and the standard of living.
One way to do this is to always link a policy to the poverty trap diagram - and then explain where the
policy would intervene to break the poverty trap. Here is an example
More international trade increases national output → more workers are required to produce this output
→ employment increases → human capital increases as a result of employment → productivity
increases → wages increase → health and education increase → leading to higher human
development and a better standard of living
Page 18 of 23
Pros & Cons of Government Intervention

Government intervention can be vital to the development of its citizens Your notes
Provision of services, merit goods, and public goods enhances the lives of a country's citizens
Pros and Cons of Government Intervention
Pros Cons
Infrastructure: energy, transport, health and Inefficiencies: The government focusses on

telecommunications infrastructure improves the services and not necessarily on generating
standard of living profit. This can generate inefficiencies in
Investment in human capital: education resource allocation and the development of
increases skills leading to higher productivity in large, overstaffed organisations
an economy Corruption: large amounts of money generated
Provision of social welfare: support through taxation can prove tempting to those
mechanisms for the most vulnerable in society managing the budgets leading to the misuse of
helps to raise the standard of living government funds and other forms of
Stable economic growth: government corruption
intervention can even out the swings in the Government capture: powerful business
business cycle people or large corporations can build such
Reduction in income inequality: governments strong relationships with government ministers
are able to regulate the disparity between rich that they end up controlling the resources
and poor through the use of policies such as through the influence
progressive taxation Poor planning and decision-making: politicians
Institutional systems: Strong institutions such are assigned to run departments in which they
as police and defence forces can be used to do to necessarily have any expertise and this can
deal with national emergencies such as lead to poor planning and decision making
earthquakes which helps a country to recover Fluctuating political agendas: government
more quickly terms are relatively short and two party
government systems tend to result in wild
fluctuations of policy which can create
instability
Page 19 of 23
4.10.7 Progress Towards Sustainable Development Goals

Your notes
Case Study 1 - Armenia
Armenia's Progress Towards Three of the SGDs ( Source: SDGIndex.org)
Goal Progress Chart
The prevalence of undernourishment considers

the percentage of the population whose food
intake is "insufficient to meet dietary energy
requirements for a minimum of one year"
(SDGIndex)
"Dietary energy requirements are defined as the
amount of dietary energy required by an
individual to maintain body functions, health and
normal activity" (SDGIndex)
There has been good progress with the value
falling from 27 in 2001 to 3.40 in 2019
Undernourishment causes productivity to fall
and it can be assumed that with more
nourishment, health and productivity will
improve
Since 2015, there has been a slight increase in
the undernourishment indicator
This metric consider "the percentage of adults,

15 years and older, who report having an
account (by themselves or with someone else)
at a bank or another type of financial institution,
or who have personally used a mobile money
service within the past 12 months" (SDGIndex)
Access to banking increases the ability to make
transactions that can improve the standard of
living e.g. remote vendors selling agricultural
products can receive payment by mobile phone
Between 2014 and 2018 there has been a
significant improvement in access to banking
Page 20 of 23
moving from 20% of the population to 50%

This value is still well below the target but the
data is not current and judging by the trend, the Your notes
current percentage could be a lot higher
The number of intentional homicides per

100,000 people
"Intentional homicides are estimates of unlawful
homicides purposely inflicted as a result of
domestic disputes and interpersonal violence
and do not include all killing, such as killing in
armed conflict" (SDGIndex)
The progress in Armenia between 2000 and
2020 has been erratic
Overall, there is a positive downward trend
from a value of 3 in 2000 to a value of 1.7 in 2020
The value peaked in 2008/9 at 3.4
Page 21 of 23
Case Study 2 - Ecuador

Ecuador's Progress Towards Three of the SGDs ( Source: SDGIndex.org) Your notes
Goal Progress Chart
The prevalence of undernourishment considers

the percentage of the population whose food
intake is "insufficient to meet dietary energy
requirements for a minimum of one year"
(SDGIndex)
"Dietary energy requirements are defined as the
amount of dietary energy required by an individual
to maintain body functions, health and normal
activity" (SDGIndex)
Between 2008 and 2011 there was good progress
with the value falling from 22 to 8
Undernourishment has been increasing slowly, but
steadily since then and in 2020 was at 13
Undernourishment causes productivity to fall
and it can be assumed that with increasing
undernourishment, health and productivity will
worsen
This metric considers "the percentage of adults,

15 years and older, who report having an account
(by themselves or with someone else) at a bank or
another type of financial institution, or who have
personally used a mobile money service within the
past 12 months" (SDGIndex)
Access to banking increases the ability to make
transactions that can improve the standard of
living e.g. remote vendors selling agricultural
products can receive payment by mobile phone
Progress is slow. Between 2011 and 2018 there has
been a small improvement in access to banking
moving from 38% of the population to 50%
In the final 4 years the increasing trend was
starting to flatten
Page 22 of 23
This value is still well below the target but the data
is not current. However, judging by the trend, the
current percentage is not likely to be much higher Your notes
The number of intentional homicides per

100,000 people
"Intentional homicides are estimates of unlawful
homicides purposely inflicted as a result of
domestic disputes and interpersonal violence
and do not include all killing, such as killing in
armed conflict" (SDGIndex)
The progress in Ecuador between 2000 and 2020
has been mostly positive
It initially increased between 2001 and 2007
when it peaked at a value of 18
Homicides then fell steadily until 2018 with the
lowest recorded value of 6
Since 2018 there has been a concerning upward
trend in this value
Overall, there is a positive downward trend from
a value of 15 in 2000 to a value of 8 in 2020
Page 23 of 23

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SL IB Economics Your notes

4.10 Economic Growth & Development Strategies

4.10.1 Trade Strategies, Diversification & Social Enterprise

Strategies to Increase International Trade

Strategy Explanation Advantages Disadvantages

Import Aims to increase Less dependence on Higher prices and less

Economic A process in which Decreases prices and Some loss of national

form an agreement which Access to a wider range Some integration

Social A social enterprise Raises motivation, These ventures tend to

4.10.2 Market-Based & Interventionist Policies

Market-based Strategies to Generate Economic Growth & Development

Strategy Explanation Advantages Disadvantages

Trade Removing the barriers to More trade increases Global competition

Privatisation Government firms are May increase Government assets are

Deregulation This is the process of Any regulation Deregulation may

controls/laws from production for firms of corruption leading

Interventionist Strategies to Generate Economic Growth & Development

Strategy Explanation Advantages Disadvantages

Tax policies A progressive tax system Redistribution often Sometimes, the

Transfer Transfer payments are The poorest Poorer countries have

Standard of living fall leading to

4.10.3 Merit Goods & Inward Foreign Direct Investment

The Provision of Merit Goods to Aid Economic Growth & Development

Strategy Explanation Advantages Disadvantages

Education These include pre- Education helps to Education programs take

Health These range from Universal access to Each health care

consumption, but paid poverty trap normative issue and is

Infrastructure Infrastructure - including Infrastructure can play Each infrastructure

Inward Foreign Direct Investment (FDI)

Advantages and Disadvantages of FDI to Generate Economic Growth and Development

Advantages of FDI Disadvantages of FDI

4.10.4 Foreign Aid & Development Assistance

An Evaluation of Humanitarian Aid

An Evaluation of Debt Relief

3. Official development assistance (ODA)

4. Non-governmental organizations (NGOs)

Multilateral Development Assistance

An Explanation of Organisations that Assist in Development

Organisation Explanation of what they do

Founded in 1944 as the International Bank for Reconstruction and

Founded in 1944 with the aim of establishing a stable global financial

4.10.5 Institutional Change

1. Access to credit and banking (finance)

Mobile banking has increased significantly in most developing countries

The Advantages and Disadvantages of Microfinance

2. Property and land rights

Increasing women's empowerment reverses these effects

Tackling corruption has the following advantages:

4.10.6 Evaluating Market Orientated Approaches Versus

Pros & Cons of Market Oriented Approaches

Pros and Cons of Market-Orientated Approaches

Pros & Cons of Government Intervention

Pros and Cons of Government Intervention

Infrastructure: energy, transport, health and Inefficiencies: The government focusses on

4.10.7 Progress Towards Sustainable Development Goals

Goal Progress Chart

The prevalence of undernourishment considers