Economic Problems of the LDC'S INCLUDE the following;
Poor agricultural practises
Reliance on agriculture
low per capita income
Poverty
High dependency Ratios
Poor infrastructure
Corruption
Foreign Aid misallocations
Overpopulation
The Case of Somalia Applies except in Somalia Insecurity hinders several economic activities from taking place hence underdevelopment.
Economic Problems of the LDC'S INCLUDE the following;
Poor agricultural practises
Reliance on agriculture
low per capita income
Poverty
High dependency Ratios
Poor infrastructure
Corruption
Foreign Aid misallocations
Overpopulation
The Case of Somalia Applies except in Somalia Insecurity hinders several economic activities from taking place hence underdevelopment.
This is a very broad issue. There is a huge literature on this. You can look at some of the recent work of the World Bank http://www.worldbank.org/en/country/somalia/overview
African Development Bank and UNCTAD have also very useful studies and analyses.
In Latin America there has been a long tradition of work in this area that is often neglected because most work has been published in Spanish. This paperr available in researchgate written by Henry Veltmenyer and myself can give a broad understanding of the field: Working Paper Development and Social Change in Latin America
Besides LDC has human capital deficit problem.
Low quality of social and market infrastructure too very actual.
I agree with all our dear Dr´s said, and complete saying that Corruption is a very big problem in underdeveloped countries. Either in developing ones.
To control corruption is an important issue, since the scarce resources are drained from their most important application to politician robbery. Millions of poor suffering because of tens of corrupt politicians. Unbelievable and unacceptable.
Poor Governance and transparency multiplied by centralization under the garb of democracy, nepotism and cronyism do not allow prioritization
and allocation
Hello Abdiaziz:
It´s important consider: famines, health and exploitation
The major problem in Somalia is lack of peace that would have bring about development. A country ravaged in war for almost four decades can never develop. The simple truth is that let the people shun all forms of religious intolerance and pursue peace.
The main and urgent one is the problem of institutions. They do not have modern institutions, including stable government. It can only be fixed by the Somalis themselves.
Somalia has a lot of problems:
"Half of the population (6.2 million people) needs humanitarian assistance. With the onset of the dry season, they face a situation of severe food insecurity, according to the World Food Program (WFP). Among them, there are some 275,000 children suffering from severe malnutrition". Source: El Pais, Spanish Newspaper, july 23, 2017.
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