Question

Suppose you are an official in charge of economic development in a developing county. Choose three obstacles to economic development that you would address and explain in detail why you would tackle them first.

Answer 1

Answer: As an official in charge of economic development in Developing country, there are certain obstacles that one has to face.Three obstacles that I will address are:

First I want to say there is no universal definition exist for economic development yet everyone agrees that it is a process will lead to social, economic development of people means it will overall increase in living standards be it educational, environmental, health,economic and many more.

So for economic development to be a reality I will tackle:

1.Human capital inadequacies: This is in self a very large domain , for productive human capital, education level , healthcare facilities should be affordable and qualitative.As a more aware and healthy workforce will be more efficient for economy.

2 .Focus on good governance: Its most important part of policy as it will contain implementation part of various policies designed for development.

So containing Corruption and proper implementation of policy without redtapism and gaps will only provide results.

For this more focus on technology i.e.online tendering, recruiting etc should be acquired.

3.More focus on Research and development: In todays changing environment more knowledge about new emerging technologies like AI,IOT, blockchain technology can reduce the human efforts and reduce the level of coreuption as well.Hence more investment can be made in such technologies to bear effective fruits of a developmental policy.

Hope it helps!

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