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Explain the state intervention approaches for promoting development.
State intervention can result within:
• Large bureaucracies staffed through friends and relatives of the ruling elite
• State rules and regulations which burden business along with paperwork and slow down decision-making. For example, registering a modern business can take a year; importing components requirements a government certificate and promotes a bribe for licence corruption.
• Price rules-regulation distorts prices resulting within a misallocation of resources
• State funding of unsuitable capital projects
• Crowding out private investment like the bulk of accessible domestic savings is assigned by the state
• No profit motive implies no risk taking resulting into minimal product development and innovation.
Explain about theories and models linked to development. • There is no one agreed theory of development. All models, as Rostow, provide an insight in one or two dimensions of t
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I am asking for a refund on this item #. I submitted the answers I thought were all right on this quiz and my score came back 18 right out of 30. Not happy that I am spending money
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