Question

There is much controvery surrounding economic growth in third world nations. (The term third world comes from the notion that the country is not developed like Western nations and not part of the communist bloc of nations.) Pick one third world country to research. How have the government policies either helped or hindered development. If development is lacking, what needs to change to make development occur? Use economic terminology and theory to support your argument. the country is Somalia

Answer 1

The Somalian Government has seen hindered growth largely due to poor governance and rising terrorism, communist fights, droughts, flooding,famines and refugees.

The biggest hindrance to growth hasbeen Government policies itself which have remained puppets to terrorist groups like Al Qaeeda. The legacy of government has passes from military regime which has not evolved and never let democracy set in. Media sector is unorganised with only radio as mode of communication.Clearly defined set of protocols and rules and legislation has never been passed which determines fate of this Country .

Economy can only stabilise if it gets bailout package from IMF or it gets strategic support from developed countries like US and UK. Moreover, full fledged media sector needs to be co developed which passes information to masses and communicates all happening. Also zero tolerance to terrorism should benees of hour. This can be achieved by getting full cooperation from countries like Us and Russia which have similar ethos. Great deal of investment on technology, defense, media and education and healthcare is need of hour and opening of FDI through relaxed norms can shape fate of country.