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What is the argument of advocates of World Bank in promotion of development?
Advocates of the World Bank argue:
• Loans and aid alone don’t guarantee development or the reduction of poverty. Unless less developed countries act to introduce good governance that the Washington Consensus measures of finding prices right, making sure macroeconomic stability and opening up trade, and include all stakeholders within a country after that the underlying problems of the country keep unresolved. Any extra loans would be damaging and ineffective. The World Bank has no option but to demand painful short-term reform onto less developed countries for long term prosperity.
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Why not cancel all third world debt? Two arguments are advanced in opposition to debt cancellation. • Developed countries finance the World Bank which can use its funds to
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What is dependency theory? Dependency Theory: Dependency theory uses economic and political theory to describe how the procedure of international trade and domestic deve
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