4.2.6.5 4.2.6.5 Barriers to growth and development NOTES

What does corruption in the context of economic growth refer to?

• Community development initiatives

• Private sector investment strategies

• Government spending on public welfare

• The misuse of public office for personal gain

How does corruption impact economic growth?

• It promotes fair trade and competition

• It distorts the allocation of resources

• It enhances public trust in institutions

• It simplifies investment procedures

Which strategy is effective in mitigating corruption?

• Decreasing public sector wages

• Limiting access to public services

• Reducing transparency in transactions

• Strengthening institutional frameworks

What are institutional factors in economic development?

• Physical infrastructure like roads and bridges

• Legal, regulatory, and governance frameworks

• Geographical characteristics of a country

• Cultural norms and practices

What does poor infrastructure hinder in economic growth?

• Cultural exchange

• Trade and transportation

• Historical research

• Political stability

What is a mitigation strategy for poor infrastructure?

• Reducing educational funding

• Investing in infrastructure development projects

• Increasing import tariffs

• Decreasing public investments

What does inadequate human capital refer to?

• Lack of natural resources

• Insufficient economic policies

• Political instability

• Knowledge, skills, and health of the workforce

How does inadequate human capital impact economic growth?

• It enhances technological innovation

• It stabilizes national economies

• It limits workforce productivity

• It increases global trade

What does lack of property rights lead to?

• Improved public infrastructure

• Enhanced social welfare programs

• Undermined investment incentives

• Increased incentives for innovation

Which is a mitigation strategy for weak property rights?

• Limiting judicial independence

• Ignoring international trade laws

• Strengthening legal frameworks to protect property rights

• Reducing legal aid availability