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THE FASTEST GROWING LEAST DEVELOPED COUNTRIES

Wioletta Nowak
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Wioletta Nowak: University of Wroclaw

Network Intelligence Studies, 2017, issue 10, 149-156

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.

Keywords: Economic development; Economic growth; LDCs (search for similar items in EconPapers)
JEL-codes: O11 O47 O57 (search for similar items in EconPapers)
Date: 2017
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