Examlex
Why do we observe the Leontief paradox?
Bilateral Aid
A form of financial assistance provided by one country directly to another to support development and welfare projects.
Multilateral Aid
Financial assistance provided by multiple countries or international institutions to support economic development in developing countries.
Convergence Theory
The hypothesis that poorer economies will tend to grow at faster rates than wealthier economies, leading to a convergence of income levels over time.
Developing Countries
Nations with lower levels of industrialization, lower standards of living, and lower Human Development Index ratings compared to developed countries.
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