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The Fastest Growing Least Developed Countries

Author

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  • Wioletta NOWAK

    (University of Wroclaw)

Abstract

The paper presents trends in economic growth and development in twelve least developed countries from 2006 to 2015. The study is based on the data retrieved from the World Bank Database. During the analysed 10 years, seven Asian (Myanmar, Lao PDR, Bhutan, Cambodia, Timor-Leste, Bangladesh, and Afghanistan) and five African (Ethiopia, Rwanda, Angola, Sudan, and Mozambique) LDCs had average annual GDP per capita growth rates higher than 4.0%. GDP has been largely generated through the services and industry sectors. A few LDCs sustained strong growth mainly because of foreign assistance and in other countries remittances were a significant source of development finance. Resource rich countries recorded high inflows of foreign direct investment. In a few fast growing LDCs the state has been heavily engaged in economy. The analysed LDCs substantially improved their development indicators.

Suggested Citation

  • Wioletta NOWAK, 2017. "The Fastest Growing Least Developed Countries," Network Intelligence Studies, Romanian Foundation for Business Intelligence, Editorial Department, issue 10, pages 149-156, December.
    • Handle: RePEc:cmj:networ:y:2017:i:10:p:149-156
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    References listed on IDEAS

    as
    1. World Bank, 2018. "Doing Business 2018," World Bank Publications - Books, The World Bank Group, number 28608, December.
    2. Benedito Cunguara & Joseph Hanlon, 2012. "Whose Wealth Is It Anyway? Mozambique's Outstanding Economic Growth with Worsening Rural Poverty," Development and Change, International Institute of Social Studies, vol. 43(3), pages 623-647, May.
    3. Kassahun Berhanu & Colin Poulton, 2014. "The Political Economy of Agricultural Extension Policy in Ethiopia: Economic Growth and Political Control," Development Policy Review, Overseas Development Institute, vol. 32(s2), pages 199-216, September.
    4. Altenburg, Tilman, 2010. "Industrial policy in Ethiopia," IDOS Discussion Papers 2/2010, German Institute of Development and Sustainability (IDOS).
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Economic development; Economic growth; LDCs;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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