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Domestic Factors and Economic Development, Infrastructure, Legal System,…
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Infrastructure
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Transport; roads, railways, airports
Public utilities; electricity, gas, water supply, sewers
public services; police, education, health, waste management
Communication services; postal system, telecommunication, radio & tv
Legal System
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If cannot guarantee his ownership of property, there is no incentive to improve that property
If there are no enforceable property rights, investment and growth will reduced and economic growth may be limited
Financial system, credit, and micro-finance
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Official financial markets: small and tend to be dominated by foreign commercial banks which often have an outward looking emphasis to their operations and restrict their lending to foreign business and the already established large manufacturing local business
Unofficial market: not legally controlled and are thus illegal
Main operation: lend money at very high interest rates to those who are desperate and poor enough to have to borrow it
Savings is necessary to make funds available for investment and investment is necessary for economic growth
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Education
Improve levels of health
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People able to communicate more, become aware of hazards
Able to read abt AIDS, poor sanitary habits
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Health
Progress in doctors & nurses training, building of hospitals and clinics, provision of public health services; improved access to safe water & sanitation, widespread availability of immunisations
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The empowerment of women
Externalities
Improved well-being of families; health of children (health care, hygiene, diet)
Improved education of children in family; women pass on education to children, perceive education as important
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Women earn more money
Increase in levels of income of women = greater increase in health levels of families similar to men
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Income distribution
High income inequality
Low levels of saving, poor save a very small proportion of their income
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