Question
In: Economics
Based on the institutional approach to economic development and growth, which of the following would not...
Based on the institutional approach to economic development and growth, which of the following would not be stressed as important in determining a country's ability to raise its per capita GDP?
Monetary stability
B.
Foreign aid
C.
A well-developed, honest judicial system
D.
Curtailing corruption
Solutions
Expert Solution
Ans.
The correct option is A. According to the institutional approach of
economics for growth and development, the political institution and
environment is an important element which helps the country to
develop. When the government and its system are accurate and
disciplined then it will be easier for the country to grow. The
monetary stability explains the financial balance and stability of
the country, which is an essential part of GDP of a country but
shall not be included in determining the country's ability to raise
its GDP, as per the institutional approach. While, foreign aid,
honest and a well developed judicial system and curtailing
corruption are the conditions which shall make the system of the
government stronger, and help in determining the ability of the
country to raise its GDP.
Rahul Sunny answered 2 years agoRelated Solutions
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