The world's poor countries have made as much progress in health and education in a generation...

The world's poor countries have made as much progress in health and education in a generation as the rich world did in a century.

b. Analyze the policies a developing country could adopt in order to improve its world economic ranking.

Expert Solution

Reduce red tape to make cross-border trade cheaper and diversify LDC economies, taking full advantage of untapped potential for deepened regional integration that leads to improved economic growth and resilience.
Establish a regulatory and legal framework that encourages domestic and foreign investment to enable the utilization of private capital. Particularly key to this is grants and other aggressive investment programs in small and medium-sized enterprises.

For early-mover e-commerce advantage. According to one recent report, this has the potential to reduce distance-related trade costs by up to 65 per cent. Online technology can bring about international trade, even in poor countries with weak institutions, so LDCs with limited digital access and low use of credit cards should invest in this.

Build an enabling environment for better trade in services, including preferences for exports of LDC services, and tackle supply-side constraints within LDCs, and invest in infrastructure services. This is a new frontier for the LDCs, with a range of possibilities not only in traditional services like tourism but also in modern international services, like data processing. Cultural and artistic resources are an environment where many LDCs are richly endowed, and this can be harnessed more productively.

Rahul Sunny answered 1 week ago

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The world's poor countries have made as much progress in health and education in a generation...

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