Roots of Development: What Matters Most for Development

The article titled “Roots of Development: What Matters Most for Development—Geography, Institutions or Policy” presents a discussion on the factors that influences the economic development and growth of an economy. An assumption is made that the good luck of a nation also propels its economic growth and development. According to the author of the paper, it is normally assumed that economic growth in different nations is driven by the implementation of the right policies.

As much as different factors are believed to contribute towards the growth of the economy, the authors report that most economists consider economic policies to be the major influencers. However, this progress can only be achieved when the nation involved develops the right policies and ensures they are adequately implemented and controlled to ensure they work. Thus, institutional effectiveness is vital in the implementation of economic policies. According to the articles, even though the formulated policy may promise the enhancement of the economy, the later cannot be accomplished unless the implementing body has the right resources and expertise to assure success. The political strength of a nation, legitimacy of the legal framework and systems of land ownership also influence the rates of economic growth. The uncertainties evident in a politically- unstable economy limit the pace and number of investments. The efficiency of the legal systems influences the trust of people and their investment decisions. Lastly, the author asserts that the security of land tenure that determines the poverty rates and the extent of agricultural productivity also have a significant effect on investment.

Despite the economic and institutional factors, the author also posits geography and the landscape of the country have significant influence on the growth of the economy. Climate change and access to the sea affects agricultural performance, occurrence of diseases, and the overall international integration of the economy. The identified factors determine the productivity of the people and the investment opportunities in the region. While emphasis has been laid on the role of economic and institutional factors in determining the growth of an economy, the author of the article acknowledges the significant role of geography in determining the economic growth of a region.

The article takes an integrated approach to the factors that trigger economic growth. The primary topic of discussion is the policies that facilitate progress and investment. However, some attention is paid to the geographical factors that can either improve or impede a country’s chances of success.

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