Institutional Change
Economic Growth and/or Economic Development Strategies
AO2
Syllabus requirement
Strategies to improve development by improving access to banking, including microfinance and mobile banking, empowering women, reducing corruption, and ensuring property and land rights.
Assessment objectives
AO2 Application and Analysis
Summary
This topic explains how trade strategies affect economic growth and development, with emphasis on the potential gains from international trade and the problems it can create for economically least developed countries (ELDCs). It highlights that export revenue can boost aggregate demand and employment, but warns that over-specialization on a narrow range of products can limit sustainable growth and make ELDCs vulnerable.
