Political and Social Barriers
Barriers to Economic Growth and/or Economic Development
Syllabus requirement
Barriers including weak institutions, poor legal systems, ineffective taxation, lack of property rights, gender inequality, corruption, and unequal political power.
Summary
This topic explains how political and social barriers can prevent countries from achieving economic growth and development. It focuses on weak institutional frameworks (legal system, taxation, banking, property rights), gender inequality, lack of good governance and corruption, and unequal political power and status. The text shows how these barriers reduce investment, productivity, fiscal capacity, and access to finance, and how they undermine human development. It also highlights international measures and reports that track legal quality, financial inclusion, and corruption.