Friday, May 16, 2014

Epilogue to the article about economic development of Islamic countries (17)

The article says:
“There are many other circumstances however that are within the responsibility of a developing country government that also lead to development failure.
These range from well-meaning mismanagement, to inappropriate objectives, to ruinous corruption.
In the first category, many countries have attempted paths of self-reliant development with mixed success.
The accepted method now is to try to attract industries that use "world best practice" production techniques to generate export industries.
The area of inappropriate objectives is one where religion may have an influence.
Economists have identified a range of social factors that assist development.

These include the rule of law, education, health and low rates of fertility.”

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