What is international economic development?

International economic development is the study of a process by which developing countries can achieve sustainable development. This process includes politicians to improve human resources, productivity and infrastructure of the country and create a environment of political stability. Economic development involves improved education, hygiene, health care, housing, water, waste water and transport in a stable government environment that supports foreign investments. Economic development can be supported by suitable international trade policies and agreements that reduce obstacles to exports from developing countries. International economic development does not necessarily have to be the same as economic growth, which in itself does not have to lead to sustainable development, but may have harmful consequences for the environment and for parts of the population. In the development of the developing country and at the same time recognizes that different countries may require different policies. Not all developing countries are at the same stage of development and differ significantly in terms of their land, natural resources, populations, GEObraphic position, infrastructure and political systems. Within the general framework of international economic development, each developing country must formulate its own specific policies to achieve sustainable development.

developing countries generally have to develop its legal and financial institutional framework. An efficient banking system must be created to ensure that savings are invested appropriately and that businesses are able to raise funds for new projects. Without an effective banking system, capital moves outside the country and the unofficial financial market will grow and charge a repressive ratio for commercial or personal loans. A strong legal system must be created to enforce contracts and protect ownership rights and business assets. The government must be able to raise taxes and manage the laws in the atmosphere without corruption.

Infrastructure must be developed to improve the standard of living and help aboutbchod. There must be adequate services such as electricity and water; public services such as education, health and police; satisfactory postal and telecommunications services; And good transport infrastructure including roads, railways, marine ports and airports. Infrastructure is a necessary basis for improving the quality of human capital through increased health, education and training.

International economic development requires an international trade environment in which developing countries can participate in trade without facing unnecessary obstacles. International agreements and discussions in organizations such as world business (WTO) have made some progress in reducing the export of exports of developing countries, but since 2011 it has been working to reduce subsidies in industries to industries such as agriculture. The debate continues to the extent to which developing countries may need to protect their developing industrial frombranches using customs obstacles to foreign imports.