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Factors affecting economic growth in Developing Countries

  Levels of infrastructure – e.g. transport and communication

  Levels of corruption, e.g what percentage of tax rates are actually collected and spent on public services.

  Educational standards and labour productivity: Basic levels of literacy and education can determine productivity of workforce.

  Levels of inward investment: For example, China has invested in many African countries to help export raw materials, that its economy needs.

  Labour mobility: Is labour able to move from relatively unproductive agriculture to more productive manufacturing.

  Flow of foreign aid and investment: Targeted aid, can help improve infrastructure and living standards.

Level of savings and investment: Higher savings can fund more investment, helping economic growth.

 

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