Components (Elements) of an economic development strategy
- Choice of broad objectives. That is economic growth, price stability, infrastructural development etc.
- Choice f technology. That is either capital intensive, labour intensive or intermediate technology
- Choice of trade orientation. That is either inward looking strategy, (import substitution industrialization strategy) or outward looking strategy (export promotion industrialization strategy)
- Choice of the leading sector that will achieve either balanced growth or unbalanced growth and development. That is either industrial development or agricultural development
- Choice of social – economic system. That is market, command or mixed economy.
- Choice of the source of investment finance. That is either domestic savings or external sources.
- Choice the implementation machinery. That is either private, public, joint ventures or community based projects.
CATEGORIES Economics
TAGS Dr. Bbosa Science
