Economic Development

An index that measures sustainable well-being combining life expectancy, well-being, and ecological footprint.

It limits access to markets, reduces productivity, and increases transaction costs for businesses.

It can increase market access and promote efficiency through competition.

It misallocates resources, undermines institutions, and discourages foreign and domestic investment.

It can lead to social unrest and limit access to health and education.

They improve human capital and productivity, supporting long-term growth.

It ignores income distribution, quality of life, and environmental sustainability.

It allows developing countries to specialize, gain from trade, and attract foreign investment.

Low income leads to low investment in health and education, which reduces productivity and keeps incomes low.

It provides small loans to the poor to support entrepreneurship and income generation.

Literacy rate or infant mortality rate.

Because prices are volatile and terms of trade often decline, leading to unstable export revenues.

Corruption or weak institutions.

A self-reinforcing cycle where low income leads to low savings, low investment, and therefore continued low income.

CO2 emissions per capita.

A strategy to replace foreign imports with domestic production to encourage self-sufficiency.

Inadequate infrastructure or poor governance.

A composite index of life expectancy, education, and per capita income.

Reduces reliance on primary exports and creates more resilient economies.

They provide aid, services, and advocacy in areas where governments may be ineffective.

By ensuring transparency, accountability, and effective use of resources.

The World Bank or International Monetary Fund (IMF).

Growth refers to increased output; development includes improvements in well-being.

To free up resources for development spending.