Economic Development

Economic growth is a dynamic and multi-faceted occurrence that is highly dependent on a specific number of factors that include but are not limited to:

  • National fiscal stability (debt vs surplus reserves)
  • Savings within the public and private sector
  • Consumer spending (caution if spending is generated by high consumer debt)
  • Export of goods and national value added
  • Import of goods (trade deficit or surplus)
  • Productivity of the labour force (labour laws, cost, education and culture)
  • Direct investment through foreign or local direct investment
  • Tax rates or cost of doing business
  • Interest rates
  • Energy prices and dependence on imported energy
  • Immigration
  • Stable government & adherence to the rule of law (corruption)
  • Ease of doing business
  • Standard of living (safety, education, infrastructure, health, environment)
  • Cost of living in order to maintain a good standard of living
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The need for responsible, open and accountable governance is a central challenge for societies seeking to provide broad opportunity and socioeconomic stability for their citizens. Common concerns among the globally powerful organizations seeking better governance listed below are even and equitable enforcement of the rule of law, respect for human rights, respect for diverse opinions and a democratic process, the need for a society where all people are free to participate fully in civic, political, economic, and cultural life, the need for freedom of the press, and an independent politically unattached judicial system.

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