Economic factors in development

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Trade, aid, debt and foreign direct investment (FDI), plus access to resources — the money and investment development runs on.

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It is the biggest source of income for most developing countries — fair trade lifts incomes, unfair trade can trap a country in low-value exports.

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Money or help given by richer countries or bodies; it can fund vaccines and schools, or create dependency and prop up bad governments.

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Many poorer countries spend more on repaying loans and interest than on health or education, so debt can drain development rather than fund it.

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Foreign direct investment — when a foreign company or investor builds or buys in another country, bringing capital, jobs and technology (but can extract profit).

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The same flow can help or trap: fair trade and manageable debt build a country; unfair trade, crushing debt and dependency-creating aid trap it.

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Whether long-term aid saves lives and funds development, or creates dependency, props up bad governments and undercuts local business.

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No — necessary but not sufficient: corrupt or weak governments can waste any amount of money, so politics and institutions matter too.

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Because it can be used well or stolen and wasted — governance decides whether resources become development or enrich a few.

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Whether a country has (and can use) resources like minerals, energy, capital and credit to fund its development.

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It can lock a country into exporting cheap raw materials while importing expensive goods, keeping it dependent and poor.