With unreliable flows of earning through exports, it is difficult to invest in new industries. As of this date, Scribd will manage your SlideShare account and any content you may have on SlideShare, and Scribd's General Terms of Use and Privacy Policy will apply. 1 5.3 Barriers to Economic growth and/or Development. Case study: Kerala State in India With the effects of globalization and climate change that we are facing right now, it has impacted on our culture in the form of economic development, social development and It's a great challenges to all of us Fijians. International Trade Barriers: Haiti’s current account balance is -611 million (2008), indicating that it is in a current account deficit. You can change your ad preferences anytime. Poverty People receive little education and health care. This page was last edited on 26 September 2019, at 14:28. Because this is so difficult to measure accurately, many researchers simply estimate that 20% of the world’s population falls below this line, UNDP reports that most live in 10 countries, with the proportions falling below the poverty line in brackets: Bangladesh (80%), Ethiopia (60%), Vietnam (55%), Philippines (54%), Brazil (49%), India (40%), Nigeria (40%), Pakistan (29%),Indonesia (24%) and China (10%), A characteristic of most LEDCs is the unequal distribution of income, What is interesting is the middle income LEDCs appear to have greater income inequality than very poor or high income countries, Income inequality is greatest in Latin American countries, Suggests that the lack of ACCESS to many goods and services expected by the rest of the respective society leads to social exclusion and damaging results for the individuals and families mired in relative poverty, Most poor people are found in rural areas: farmers with small holdings, landless peasants, artisans, fishermen, nomads and indigenous people - the poor are not idle, they work hard, Those with a traditional way of life are not necessarily poor - for thousands of years they adequately sustained themselves - it is only recently that they have become poor due to policies which have deprived them of the means of earning a living (land, fisheries, hunting ranges, forests), Poverty in city slums is highly correlated with poverty in the countryside and is linked through migration, Women are often the poorest of the poor, as men control most of the land, capital and technology, and receive a better education in most countries - this can have a major impact on population control, Investments in infrastructure, social services, and technology in rural areas can go a long way to helping those mired in the poverty cycle, Composite indicator, linking ten measures of human welfare - income (GDP/capita), inflation rate, life expectancy, demand for new jobs/urban population pressures, infant mortality/infant immunization, nutrition/daily calorie supply, access to clean water, energy use/telephones/1000 people, adult literacy/secondary school enrollment, and personal political freedom/civil rights, HSI numbers are worst in Mozambique (93), followed by Somalia, Afghanistan, Haiti, and Sudan.

If MEDC populations are adjusted to include their ecological footprint, the real populations and population densities are even higher: For the US using 6.7 times the world average of resources per person: 1,900 million people, For India using 0.25 times the world average of resources per person: 212 million people, Malthusian approach: the law of diminishing returns suggests that the world will run out of resources in the face of the rapid increase in population, Demographers find that the big increase in population is over - while the long term effects will lead to increased populations in the future, the growth rate has already started to stabilize and will reach replacement level by the year 2050, While resources have been fixed, the gains from specialization, economies of scale and learning by doing have more than outweighed diminishing returns in the last 100 years, There does not appear to be a clear correlation between birth rates and per capita income - death rates have fallen quite independently of incomes, It appears that a more equitable distribution of income, greater literacy for women, and more job opportunities for women results in a lower population growth rate, It is estimated that in MEDCs, 27% of the population lives in the rural sector with possibly as much as 5% involved in agriculture, In LEDCs the figure is 66% living in rural areas, with nearly 70% involved in agriculture, Many of the most severe development problems arise from a weak agricultural sector - growth through the agriculture sector has not led to increases in per capita income. This leads to lower revenue for firms and in return, causes higher unemployment because firms decrease business investment. Change ), You are commenting using your Google account. Institutional and Political Factors: Corruption is one of the key issues in Haiti. International trade barriers is one of the most significant growth barrier in Haiti. Barriers to Economic Growth and/or Development, http://www.nationsencyclopedia.com/economies/Americas/Haiti-INFRASTRUCTURE-POWER-AND-COMMUNICATIONS.html, International financial barriers – indebtedness, Consequences of a narrow range of exports (Overproduction, failure to get all producers to join, difficulty of storing commodities, high floor prices which encourage overproduction). Low income -> Low Savings -> Low Investment -> Low Incomes, 4. International financial barriers – indebtedness, Developing countries like Haiti mainly trade in primary exports. LEDC governments have been forced to make major structural reforms under instruction from the IMF in order to qualify for rescheduling: Market mechanisms: supply side measures increase output and investment, Devaluation of the currency: devaluation should lead to greater exports and fewer imports unless both domestic demand for imports and external demand for exports are inelastic, Deflation: tight monetary and fiscal policy reduce government deficits, inflation and eventually interest rates.

Barriers to Economic Growth and/or Development There are several factors that can restrain growth and development. Although the rich have private generators, many industries had barely enough electricity to keep going. Slower population growth: can be achieved through family planning by women: Social security: if there are pensions and support during illness, there is less need for a large family, Effective birth control: whether through chemical or mechanical means or through birth spacing through extended breast feeding, Higher female employment and greater schooling for both men and women leads to lower fertility rates, Meaningful work for women: women have an alternative way of achieving fulfillment in addition to having children, There are reduced opportunities for children to earn income in urban settings due to enforced schooling and fewer less skilled jobs, plus the opportunity costs of the parent's time rises, Higher incomes seem to encourage fewer children with more invested in each child, Mass sterilization: created much hatred and severe backlash, Savings rates rise: families save more and govts. This makes Haiti heavily reliant on foreign goods. As stated previously (blogs below), Haiti specializes in a small range of primary exports. Filed under Uncategorized, Barriers to Economic Growth and/or Development.

However, there are barriers combating the implementation of sustainable development in developing countries. Clipping is a handy way to collect important slides you want to go back to later. It is clear that the poverty cycle is one of the main barriers to economic growth.

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