Why is an understanding of development is crucial for policy formulation in developing nation?


3 Answers

Anonymous Profile
Anonymous answered
Because the aim of the policy is to support the development.
Anonymous Profile
Anonymous answered

Its important because in developing economies there are a lot of factors to consider when undertaking new policies. For example certain taxation strategies can actually make the country worse off. Accepting certain foreign aid can make certain sections in the economy 'lazy'. Understanding of  developing economies helps you understand how and what policies best fits your country .

Lawrence Mleya Profile
Lawrence Mleya answered

It has been said that ending extreme poverty and achieving genuine development are

possible but not inevitable and that this gives the study of economic development its moral and

intellectual urgency. What is meant by this? Comment and evaluate

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