Examlex
For the nations of West Africa,the transitions from colony to independent nation have been plagued by bloody civil wars,military coups,and political unrest.Why do you think this has been the case? Why has the political and economic instability continued on for so long after independence?
Poor Countries
Nations with low levels of economic productivity, low per capita income, and generally low standards of living.
Insufficient Capital Formation
A situation where the economy or an entity fails to invest adequately in capital goods, which can limit economic growth and productivity.
Economic Growth
An increase in the capacity of an economy to produce goods and services, compared from one period of time to another, typically measured by the gross domestic product (GDP).
Import-substitution Strategies
Economic policies and practices aimed at replacing foreign imports with domestic production.
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