Why some developing countries achieve higher economic growth than others: a case study
This paper examines the elements that determine why some developing countries have managed to achieve higher rates of economic growth in the post-Second World War period while others have stagnated in comparison. The paper tests several theoretical frameworks and models developed in order to see if these can explain the differences, and if not, why not. In order to examine the main research questions of the paper, the study employs a comparative case study design that combines quantitative data and statistics with qualitative interviews. The particular case study examines the economies of Kenya and Malaysia to determine why one has remained among the least developed economies (Kenya) while the other (Malaysia) has been able to take advantage of the convergence in the world economic order. The study is significant for several reasons, the chief among them being the fact that globalization has made it even more imperative for developing nations to get their economies into fighting shape so that they can cope with increased competition. As well, it is hoped the study can contribute to the theoretical discussion on how effective models are that present ômade in the Westö economic concepts within economies that have not yet developed these conceptsùmainly agrarian societies, for example. The study examined four factors that were pointed out by both the literature and the respondentsùpolitical system, debt management, savings rates, and trading policies. The study's conclusion was that, for the most part, these factors played a key role in either allowing or not allowing a developing country's economy to develop satisfactorily.
1.1 Background/Statement of the Problem
According to proponents of globalization, it is inevitable that economies that apply themselves to the process will eventually emerge as the leaders in any future economic order. ...