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How does culture influence the development process? Culture influences what is of value into a society and affects how individuals, communities and organisations react to modi
what makes other individuals save more than others
How does social capital influence development? Problem: Low social capital leads to potential conflicts and high transaction costs which hinder growth. Several LDCs (Less Deve
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how the concept of elasticity used for policy formulation
What are the assumptions of dependency theory? The assumptions of dependency theory: Dependency theory extends Marx is theory of surplus value to international relationship
Expansionary fiscal policy happens when the government cuts spending. How?
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Growth in Private Capital Flows is explained below: There has been a extraordinary growth in private capital flows since the 1990s. For instance, the value of capital flow tran
What is import substitution? Import substitution: It is a government industrialisation policy for development by replacing imports along with domestic production. St
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