Title: Policies for Economic Development - Economics Help
Headings: Policies for Economic Development
Policies for Economic Development
Policies for Economic Development
Macroeconomic Stability
2. Less Restrictive Regulation and Tackle Corruption
3. Privatisation and De-regulation
4. Effective Tax Structure and Tax Collection
5. Investment in Public Services
6. Diversification away from agriculture
Role of IMF in Economic Development
World Bank and Economic Development
Other Issues in economic development
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Content: Less Restrictive Regulation and Tackle Corruption
Some developing countries are held back by over-restrictive regulation, corruption and high costs of doing business. To attract both domestic and inward investment, it is necessary to remove these costs and create a climate which is conducive to business. To tackle corruption may not be easy, but it is often one of the biggest constraints to economic development. Also, in the effort to reduce levels of regulation, it is important that useful regulations such as protection of the environment aren’t discarded in efforts to attract inward investment. Otherwise, economic growth may come at the expense of sustainable development. 3. Privatisation and De-regulation
An important aspect of China’s rapid economic development was the decision to move from a Communist economy to a mixed economy. Several state-owned industries were privatised. This gives firms a profit incentive to cut costs and aim for greater efficiency. De-regulation involves making state-owned monopolies face competition.