4.8 What other measures can be used to promote growth and development?

Thursday, May 23, 2013

What students need to learn:

Students should be able to:
Additional Guidance Notes
Ways of promoting growth and development
Consider factors such as:
  • aid
  • debt relief
  • development of human capital
  • inward looking/outward looking strategies
  • free market/government intervention approaches
  • industrialisation; development of tourism; agriculture
  • microfinance
  • fair trade schemes
  • role of international financial institutions and non-government organisations in promoting growth and development.

Students should investigate the benefits and disadvantages associated with each of the listed strategies. In addition, the strategy should be considered in relation to some theoretical framework, for example market orientated approaches; structural change theories; international dependence theories. With reference to a particular economy, students might consider which theory might be most appropriate.

Students could examine the use of microfinance and fair trade schemes as they affect particular countries. The functions of some of the key institutions should be considered and evaluated.

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