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### Understanding Economic Growth and Development Strategies in Less Developed Countries ###

This analysis explores the determinants of economic growth and examines the potential economic costs and benefits associated with multinational investments in less developed countries, specifically Gondomar. It contrasts inward-oriented and outward-oriented development strategies, highlighting their main features and evaluating their advantages and disadvantages. Furthermore, it addresses the significance of measuring economic development distinct from growth, the expected economic impacts of foreign aid versus trade in less developed countries, and assesses how globalization influences their economic development. ###

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### Understanding Economic Growth and Development Strategies in Less Developed Countries ###

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Presentation Transcript

  1. Question #1 What are the determinants of economic growth?

  2. Question #2 A multinational enterprise decides to make a large investment in Gondomar, a less developed country. Examine the possible economic costs and benefits of this decision for the economy of Gondomar.

  3. Question #3 Some countries, such as India, have tended to use inward orientated development strategies, while others, such as South Korea, have used outward orientated strategies. Describe the main features of each type of strategy, and discuss and evaluate their ad­vantages and disadvantages.

  4. Question #4 Explain how and why economists are attempting to find ways of measuring economic ‘development’ as distinct from ‘growth’.

  5. Question #5 What are the economic costs and benefits which a less developed country can expect when it receives aid from a more developed country? Explain whether aid or trade would be more effective.

  6. Question #6 Evaluate the impact of globalization on the economic development of developing countries.

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