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4. Economics of Developing Nations


4.1 Economic Development 

  • Economic growth and economic development 

  • Common characteristics of economically less developed countries 

  • Diversity among economically less developed nations

  • International development goals

4.2 Measuring Development

  • Single indicators

  • Composite indicators

4.3 The Role of Domestic Factors

  • Domestic factors

4.4 The Role of International trade 

  • Trade problems facing many economically less developed countries 

  • Trade strategies for economic growth and economic development 

4.5 Role of Foreign Direct Investment

  • The meaning of FDI and MNCs

  • Advantages and disadvantages of FDI for economically less developed countries

4.6 The Role of Foreign Aid and Developmental 


  • Classifications and types of aid

  • Evaluation of foreign aid

  • The roles of the International Monetary Fund (IMF)and the World Bank

4.7 The Role of International Debt

  • Foreign debt and its consequences

4.8 The Balance between Markets and Intervention 

  • Strengths and weaknesses of market-oriented policies

  • Strengths and weaknesses of interventionist policies

  • Market with government intervention

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