Question

4. Explain factors hindering economic development

Answer 1

Answer:

please add to brain list

Explanation:

The paper finds that public borrowing, trade deficit, military expenditures, population, political instability, corruption, the high dependency on natural resources and the low level of technological innovation, all hinder GDP in the long run.

Answer 2

Barriers to Economic Growth and Development

Poor infrastructure.

Human capital inadequacies.

Primary product dependency.

Declining terms of trade.

Savings gap; inadequate capital accumulation.

Foreign currency gap and capital flight.

Corruption, poor governance, impact of civil war.

Population issues.