Macroeconomics + Economy 2009 Update 18th Edition by Campbell McConnell, Sean Masaki Flynn,Stanley Brue

Exercise 28

What are the characteristics of a developing nation List the two basic avenues of economic growth available to such a nation. State and explain the obstacles that DVCs face in breaking the poverty barrier. Use the "vicious circle of poverty" concept to outline steps a DVC might take to initiate economic development.